- Loans available from £3,000 to £200,000!
- Quick & easy application!
- Rates from 5.7 to 28.49% APR!
- Bad credit - we may still help!
- Multiple lending options!
- Friendly & efficient service!
Secured Loans - What Are They?
A secured loan, or home loan, is only available to UK homeowners that have a current mortgage on their property. It is also a requirement that they own some equity in their home, which will be used as security for the finance. The lender will put a second charge on your property (behind your mortgage), which means that your home may be at risk if you do not keep up the repayments. InterFinancial limited is a well-respected and long-standing secured loans broker, we have helped countless people arrange the loan that they need over the years. Also, because of our long standing relationship with all the major UK lenders, and brokers, there is nobody better placed to help you. Because we do not charge any up front fee,. it does not cost anything to see what we can do for you.
Up until recently, the secured loans industry had been all but wiped out as a result of the credit crunch and the PPI miss-selling scandal. However, it now seems to have turned the corner. With more lenders coming into the market place and loans being offered up to 100% of your property value, (including your mortgage). This makes this kind of loan very useful when it comes to consolidating expensive credit card debt. Which could help reduce your monthly outgoings quite considerably. They are also useful as a means of paying for any major home improvements.
Bad Credit Secured Loans
Because the lender has the added security of having a charge on your property, they can be a little more relaxed in their underwriting criteria. This means that no matter what your credit history, the lenders will still consider approving your loan. However, you should be aware that the worse your credit history, the higher the interest rate you will be charged, and you will also need to own more equity in your home.
What is Equity?
Equity is calculated by deducting the amount outstanding on your mortgage and or any secured loans, from the value of your property, see the image below;
Using the equity you own in your home as security for your loan not only provides you with a better chance of getting your loan accepted, it should also give you access to cheaper loans. The lenders do not need to consider as many defaults when calculating their interest rates as an unsecured lender, because of the added security that they hold. You should however, bear in mind that if you are unable to meet the repayments on a secured loan, because the lender has a charge on your home. He is within his rights to force the sale of your home to get his money back. That is why you should only consider this kind of loan when you are 100 per cent certain you can easily afford to repay it.
As a long standing broker, we are fully licensed with the OFT (Office of Fair Trading) licence number 0640077 and the Information Commissioner's Office Reg number: Z2730774.We pride ourselves in the levels of service that we offer to all our loan applicants, no matter what their personal circumstances. It is instilled into each and every one of our staff, that they are duty bound to find the cheapest loan for everybody that applies, whilst being courteous and polite.
Loans For Home Improvements
If you need a loan to carry out some home improvements, a secured loan is the right option for you. Whether you are having new double glazing fitted, installing a conservatory, or having a luxurious hot tub in your garden, this is where we can help. InterFinancial Limited has access to all the different loans offered to homeowners in the UK, from all the different providers, and we have no doubt that we can find the best one that suits your needs.
Loans For The Self Employed
Anybody that is self-employed and has previously applied for a loan, will understand that the lenders treat them differently to an employed person. The problem is made worse if you have not been self-employed for very long, and because of that, cannot provide the three years accounts. Secured self-employed loans are secured loans that are offered by specialist lenders. They understand that you are not necessarily a credit risk, simply because you are self-employed.
InterFinancial - The Name You Can Trust!
InterFinancial has managed to maintain its presence in the UK finance industry, when so many others have not. This is because of the quality service that we offer all our applicants. We will always do what we can to find you the loan that you need, and at the best rate, no matter what kind of loan you are looking for.
Rates from 5.7% APR, to 28.49% APR are available, our highest rate is for customers with adverse credit problems. A fee of up to 10% may be charged by some of our partners.