100% Equity Secured Loans - How They Work, and How You Can Apply

What exactly is a 100% equity secured loan?

Let's say that you own a home or flat in the United Kingdom, and you are employed and over the age of 19.

This flat was recently appraised at 225k pounds, and you currently have a 125k mortgage outstanding on the property. You don't have any additional secured loans against the property.

Secured loan lenders will lend you up to 100% of the total equity in your property.

To figure out your total equity, simply take the appraised value of your home (225k) and subtract the total outstanding mortgage on the property (125k). This will leave you with the total equity that you currently have in the property (100k). If you have any outstanding secured loans against the property, be sure to include these with your outstanding mortgage.

So in this situation, you would be eligible to borrow up to 125k against the equity in your home. By no means do you need to borrow the entire amount - as a matter of fact, most secured loan lenders will only lend you 100k pounds maximum. In some rare circumstances they will lend more.

If you are looking to consolidate some debts or pay for home renovations, then a secured loan is likely the perfect choice for you. The benefits of a secured loan include:

1. Much lower interest rates compared to an unsecured loan. Secured loan interest rates usually come in at about 8-9% APR - unsecured loan interest rates can exceed 20% per annum.

2. Flexible repayment schedule. With a secured loan, just like a mortgage, you can take up to 25 years to repay the loan. With an unsecured loan, you would be lucky to find a company that would allow you to take more than five years to pay back the loan.

3. Increased borrowing power. Let's say that you are planning a massive renovation that will include all new bathrooms and a new kitchen. You figure that you will need to borrow upwards of 40k pounds to finance these home improvements. Try finding an unsecured lender who would be willing to lend you over 40k pounds. You won't. If you need to borrow a large amount of money, then a secured loan is usually your best bet.

Applying for a 100% equity secured loan is quick and easy. Simply click on the link below, and you will be taken to our easy to use application page. Filling out the application will take no more than five minutes (there are no additional pages, just the one that you see there). An agent will contact you at your specified time. There is no obligation to take out the loan, should you be approved. What do you have to lose? Apply today!



Apply for a secured loan today!