Frequently asked questions
I have poor credit can I still apply ?
Yes, you can still apply if you have poor credit. We work with a range of lenders and partners that are able to assist customers with many different circumstances or that may have had issues with credit in the past. Apply today and see how we can help.
How much can I borrow ?
The amount you can borrow depends on a number of different circumstances including the amount of equity in your home and your credit history. Generally, lenders will cap lending at 100% of your property value (including your existing mortgage).
Can I repay my loan early?
Yes, you can repay your loan early. There may be an early repayment charge that you need to pay so you should contact your lender when you are ready to repay the loan to understand what needs to be paid at that time.
What can I use my loan for?
A homeowner loan can be used for almost any legitimate purpose. Due to the high amount you may be able to borrow with a homeowner loan, they are most typically used for covering the cost of larger expenses.
Common purposes for people taking out homeowner loans include:
Debt Consolidation
Home improvements
Vehicle purchases
Wedding costs & much more
What is a Fixed Rate?
A fixed rate means that the interest rate on your loan will not change for a set period of time, usually up to 5 years. Most rates will change to a variable rate after the fixed rate ends so it is important to understand what the future payments may be.
How long will it take to process a secured loan?
Secured loans will generally complete much quicker than a mortgage and in many cases, you can get your money within 10 days. This is dependant on a number of factors, of which your advisor will discuss with you as part of the process.
What is APRC?
APRC stands for annual percentage rate of charge. This shows you the annual cost of your loan or mortgage over its lifetime. It brings together all costs, including fees, and you should therefore use this figure when comparing multiple loans.
The APRC of a loan can be different to the interest rate, for example if you borrow £25,000 at 8% interest rate fixed for a term of 5 years, with a broker fee of £2,500 and a lender fee of £595, the APRC would be 9.41%.