A secured loan or second charge is finance borrowed in addition to a pre-existing mortgage. Secured loans are only available to homeowners and work in the same way as a mortgage, with the loan secured against the property. Although there are some similarities between a secured loan and a mortgage, the two products are completely separate. A secured loan is a different product to a further advance on an existing mortgage that you may have. We can refer you to one of our preferred specialists for secured loans.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured against it.
Secured loans are referred to a third party. Neither The Mortgage Advice Centre nor PRIMIS Mortgage Network are responsible for any advice received from the third party.
Contact us for more details.