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2008-03-24 07:28:24
The Secured Loan App Process from Start to Finish
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 Are you thinking about taking out a secured loan on your home?
Are you unsure about the steps that are involved in securing a second mortgage on your home?
Here is your guide to the process, from start to finish:
1. Application. You must first fill out your details and then your application will be sent out to a lending secured loan firm in the UK. This process will take no more than five minutes of your time.
2. Initial Contact. The secured loan firm will look at your application and contact you to let you know if you have received a conditional approval or not. You are not obligated to take out a loan at this stage. Normally the firm will contact you the same day that you apply. If you apply late at night, then they will contact you the following day.
3. The mailout. After contacting you over the phone and verifying your details, the firm will send you a package through the mail that you must fill out and send back. Normally it takes a couple of days to arrive in the mail. This is the stage that normally slows the process down, as applicants don't send their packages back in a timely fashion. If you are on top of things, this part of the process can be completed within a week.
4. The acceptance. If everything is in order, the firm will accept your application and the process of dispersing the funds will begin. Normally the acceptance part of the process takes a few days upon the firm receiving your completed package (see step 3).
5. Lawyers / Signing of documents. The firm must be added on to your mortgage, so there will be a lot of lawyers and signing involved at this point. Normally this involves you making an appointment with the firm to visit their offices and sign all of the applicable forms. Again, the length of this process is up to you - if you are flexible, you can usually make an appointment for the next business day or two.
6. Dispersal of funds. Upon all of the documents being signed, the funds will be dispersed into your bank account. This process is relatively quick, and you will normally receive your funds with 48 hours of signing all of the documents.
This is the secured loans process from start to finish. If you are on top of things you can complete this process within 2-3 weeks. If you delay (especially in steps 3 and 5), then the process can take months. It's all up to you.
Apply for a Lending Place secured loan today!
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Get Your Free Loan Offer Today - Click Here
There is NO FEE and you are under NO OBLIGATION!
We'll Compare over 250 loan plans and search over 90% of the loan market.
Applicants with bad credit history, Mortgage Arrears, Missed payments or CCJs are welcome.
A lot of big banks are competing for your business - Apply Today
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