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 interest rate will I pay and is it negotiable?
Interest rates vary from lender to lender, and it all depends on how much you borrow, and over what period of time.
What is not covered by personal loan protection insurance?
There are a number of situations that are normally exempt from personal loan protection.
How much can I reduce my monthly payments by with a debt consolidation loan?
It really depends on how much you owe. In some circumstances you may be able to reduce your total monthly repayments by as much as 75% - simply by consolidating your debts into one single payment.
Over what length of time can I spread my repayments with a debt consolidation loan?
You will be able to spread your repayments over whatever term you need to in order to meet your repayments.

What Is A Loan To Value (LTV) Ratio?

The Loan to Value (LTV) ratio is the amount of the loan you need compared to the value of the property you are buying.

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The industry average for the LTV ratio is 75% so this means that if your property is valued at £100,000, you will be able to get a mortgage of £75,000.

You can easily get mortgages with a higher LTV ratio - and even above that ratio, however you will pay higher interest rates, and need an excellent credit history. If you are considered a bad risk to the lender then you will have to give a sizeable deposit, or face significantly higher interest rates from a specialist lender for borrowers with a bad credit history.

100% mortgages are quite common now to help out first time buyers who cannot raise a deposit, and for those who need to make home improvements as well, they can get up to a 120% LTV ratio.

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.