Homeowner & Secured Loans
ญญLow Rate Homeowner & Secured Loans
So what does it all mean? Well, with secured loans you provide the lender with your property as security, whether it's mortgaged or owned outright, and a 'charge' is put against your house. This means that if you sell it the lender gets their money back first and you get the remaining sum.
No Credit Check Secured Personal Loans
Secured loans are available in a variety of amounts, for almost any purpose, and you agree a fixed term over which you'll repay the sum with interest. Some fixed rate loans are flexible and allow you to overpay or even take a payment holiday, but others discourage you from paying the sum off early and have a penalty in place. Interest is charged at an APR (Annual Percentage Rate), and the exact APR, total amount, and term offered, depend on the equity you hold in your property, as well as the lender's view of your ability to repay, and your personal circumstances. But rest assured, BWG can find the very best deal for you.
Low APR Rate Secured Loans Available
The main benefit of a secured loan if that it is usually much easier to obtain than an unsecured loan, which is particularly useful for the self-employed, those who have recently changed jobs, and those with a less than perfect credit rating. Of course if you're married, do bear in mind that your spouse will have to sign the documents too.
And once you apply for a secured loan your lender will typically use a credit scoring facility which matches your personal circumstances and statistics to a broad borrower category, or apply to a credit reference agency for details of your personal financial position and credit history. This is why it's so important to work with an expert team like BWG. Every time that a credit score is completed, or a credit agency checked, a note is made in your file, and if you have too many that haven't gone through to fruition it can seriously affect lenders' view of you because they assume that you've been declined. Get it right the first time and call BWG now.
Unsecured Loans Available In Some Cases
We also offer some unsecured loans, which is when lenders don't require any security. These can be a good solution if you have all of your records in place and an excellent credit rating, but you can't use the funds for business or speculative purposes. If this is of interest, please call our team to discuss your personal loan needs.
*Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it *
