Secured Loans & Homeowner Loans

123 Secured Loans is a secured loan broker offering secured loans and homeowner loans to people from all walk of life. No matter what your credit history is like 123 secured loans are able to find a secured or homeowner loan to suit your needs.

Secured Loans

When looking for a secured loan, the best place to start your search is on the internet, as you can often find some of the best secured homeowner loan products yourself without having to pay anyone to look for them for you. Although if you have a poor credit history, or if you have a low income, you may be better off looking for a secured loans broker who will be able to arrange a homeowner loan, or a secured loan product for you. Most secured loan brokers are very experienced in arranging loans for people with poor credit, or for people with no proof of income, so if that is the case you are proberbly better seeking some advice from someone who knows what they are doing.

Homeowner Secured Loans

123 Secured Loans have access to hundreds of secured homeowner loan plans with many different lenders across the UK. 123 secured loans are able to arrange you a secured loan without you having to leave your home. As long as the underwriters are happy with what you say, and your credit rating is fine, the homeowner loans lender will usually then apply for a valuation on your property to determin how much they are able to lend you.

The process Of A Secured Loan

When applying for a secured loan or a homeowner loan, the first thing you need to do is work out the correct amount that you need. Once you know how much you need to borrow you need to work out what loan to value (LTV) you are borrowing at. This can be worked out by (your total borrowings) divided by (your property value) and worked out as a percentage. If you can keep this LTV figure under 85% then you are in with a good chance of receiving a competative interest rate on your secured loan.

Once you know how much to borrow and the loan to value, you then need to find the best homeowner loan based on your individual circumstances. A secured loan brokerage like 123 secured loans would do that part for you. You would then be asked a number of questions, and be asked to sign the loan agreement, and the legal charge along with the direct debit mandate.

The next step is the valuation and the solicitors. The solicitors is normally paid by either the lender or the broker, this should never really be left for the client to pay upfront. If you are successful te broker or the lender can usually pay the money in to you bank account within a matter of days for you to use how you will.

Although in this instance it seems that the secured loan can go though to complete in a matter of days, on most occassions it can take up to 2 - 4 weeks until you receive the money though from a secured loan application.

For more information on secured loans contact 123 secured loans for a quick secured loan quote today.