Why consider a secured loan rather than a remortgage ?
In some circumstances it may be preferential and better for you to chose a secured loan rather than remortgage your property.
Some types of loan are not regulated by the Financial Conduct Authority
Typically you would chose a secured loan if:
- You are in a tie-in period and do not want to pay a large penalty for remortgaging
- You are about to come to the end of your mortgage deal and you need to consolidate other borrowings
- You cannot prove your income with either payslips or accounts
- Your existing lender has turned you down for a further advance
- You need funds very quickly and can't wait to remortgage
- You want to avoid losing an excellent current deal with your existing mortgage lender
