How Secured Loans work

Secured loans - how they work

An secured homeowner loan is not based solely on your income. Collateralized homeowner loans work in a slightly different way than a traditional mortgage. What are our secured loans like? Therefore, we wanted to give you a step-by-step guidance on our credit processes. So why not use our convenient credit calculator?

It will give you an indication of your repayment schedule, based on the amount and length of your mortgage. In case your situation has not improved during this 14-day term and you still wish to continue your loans, just signed the contract and send it back to us.

As soon as we have received the contract we will start processing your credit.

Collateralized loans. Homeowner loans.

And who can get a secured mortgage? Often this is due to a non-existent or poor creditworthiness. Collateralized loans also work well for home-owners who are looking to lend significantly more than an unsecured mortgage or face-to-face mortgage can provide. What can I get? When you decide to go down this road, make sure you only lend what you know that you can repay every single months in a realistic way.

So if you are looking to lend a smaller amount of money (less than 15,000) then a face-to-face mortgage could be a more secure choice for you as you are not running the risks that the creditor will reclaim your home. You should be clear, however, that if you do not make payments on a regular basis, the creditor can still encumber your home.

On the website of the citizens' advisory service you will find comprehensive information on how fee notices work. Secured loans give you the possibility to lend even if you have a poor past record.

You can lend a much higher amount in aggregate, and the risks to the creditor are lower than with other forms of borrowing. An secured home loans can give you the chance to do this even if you have a weak financial record. When you have a weak borrowing record and need mortgages counseling, you can find our weak lenders here.

Have a look at our other poor loan mortgages alternatives.

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