Hot Topics

What is a secured loan?
Secured loans enable homeowners to borrow capital against the value of their property. This means that you are effectively using your property to guarantee the loan. If you cannot keep up with the repayments, your home is at risk.
What if I want to pay my Loan off early ?
Before agreeing to your loan, read the terms and conditions of the agreement. Some loans allow you to pay your loan off early without any penalties, however, some don't.
How do I contact the Credit Reference Agencies?
You can request your credit report online, by phone or online. It costs £2 for a copy of your statutory credit report. Here are the details for the three main credit reference agencies.
What does it mean if my payment protection insurance includes cash back?
Some lenders offer a cash back scheme on payment protection insurance – by refunding all or part of the insurance premium after a certain time has elapsed.
Can I cancel my loan application if I decide not to go ahead for any reason?
If you decide you want to cancel your loan application once you have made it, you can do so within a certain period of time set by the loan company.

What if I want to move house during the term of my loan?

Moving house is only an issue if you have a secured loan - as you have borrowed against the value of your house.

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How your loan company deals with this varies greatly. Some allow you to transfer your loan to your new property, using your new home as security. However to do this there must be sufficient equity available in the new property, so you will have to be moving to a property of equal or higher value. This also depends on how much of your loan is left. If you are near the beginning of the loan term then the issue is more complex, whereas if you only have £5,000 left outstanding then there will be no trouble securing sufficient equity on your new property.

Alternatively you could request a settlement figure from the lender and pay the loan off in full. You could finance this by arranging a new loan secured to your new property.

In either case you will need to speak to your loan company over the phone or in person to see what options are available to you.


Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.