Hot Topics

What is a Career change Loan?: If you are planning a change of career then it is likely you will experience either a big drop in or a total loss of regular earnings – and this is why people choose to take out career change loans.
How quickly can I get the money?: How quickly you get your loan depends on who you buy it from.
How do I make repayments and can I choose my monthly repayment date?: Your repayments will normally be taken from your bank by direct debit on a monthly basis. This means that you must have enough cleared funds in your account on the due date, or the payment will fail and you will have missed a payment.
I have not been with my current employer very long, can I still apply for a loan?: To apply for an unsecured loan you will normally need to provide 3 consecutive pay slips to prove that you have a regular income.
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 the maximum value of the secured loans I can have in relation to the value of my property (LTV ratio)?

The industry average for the LTV ratio (Loan to Value Ratio) is 75%. This means that if your property is valued at £100,000 – you will be able to borrow £75,000 against it. It may be possible to get more than that – for example 85% or 90% - however you will need an excellent credit history and must in general be considered a ‘no risk’ customer by the loan provider.

If you want to take out a secured loan against your home, you will have to have an appraisal to work out the value of the property. On this figure the lender will decide the maximum amount you can borrow against the property.

Especially in the current environment where house prices are rising and rising, homeowners are getting the chance to borrow large sums against their house as the value of their property soars. The risk here is that you will end up in negative equity. This happens when house prices fall, and lenders find that they have borrowed more than the value of their house. As a result, each month you would be paying interest on a loan greater than the real value of your property. This only becomes a real problem when moving house, as you will owe thousands of pounds more than your home is worth.

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.

Car Loans

Holiday Loans

Home Improvement Loan

Career Change Loan

Debt Consolidation Loan

Bridging Loans

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