Secured Loans

Secured loans enable homeowners to borrow capital against the value of their property.
Anyone wishing to raise additional capital who has sufficient equity in their property could consider a re-mortgage, however this may not be possible if penalties apply to the mortgage and so taking out a secured loan could prove a viable alternative as the available equity in the property can be used to guarantee the loan.As with any loan secured on a property consideration should be given to what would happen if the repayments were not met.  However secured loans do have a number of distinct benefits over other types of borrowing.  One of these is that they usually offer attractive interest rates when compared to unsecured loans.
 Secured loans also come with all sorts of flexible repayment terms, these include: ‘payment holidays' whereby you can halt repayments for an agreed period of time in order to divert capital elsewhere (say to help with the costs of a wedding or newborn child) and favourable redemption charges – which is an important consideration if you may want to pay the loan back early.
Secured loans are typically spread over a much greater timeframe (up to 25-30 years) than unsecured loans, and you can borrow larger amounts.  

Bridging Loans

Bridging Loans are short term loans. The Bridging loan is designed to solve a temporary cash shortfall that may arise when buying a property or business.
A typical example of when you may need one would be if you want to buy a second property before you've sold your first. A Bridging Loan is normally secured by getting a mortgage on the new property, and taking out a second mortgage on the property being sold. In this case the loan will depend on a positive valuation of the relevant properties.
Lenders will usually allow Bridging Loans of up to 65% of the value of the properties - less any existing mortgage.
As they are more risky for the lender than the usual house buyer's loan, bridging loans are more expensive and should only be used where you are fairly certain to repay them within about 6 months, however it is often prudent to take advantage of a bridging loan because it is short term and does "bridge" the gap between selling and buying a home.

Our specialist advisers have the very latest information on bridging loan rates and can source exceptional deals on your behalf.

 THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.