Secured Loans

A second charge secured loan is a type of loan that’s secured against a property, in addition to the primary mortgage. It’s sometimes also referred to as a homeowner loan, home loan or second-charge mortgage.

A second charge secured loan can be used for a variety of purposes, such as home improvements, debt consolidation, or to finance a large purchase.

The amount you can borrow with a second charge secured loan can vary depending on the lender and the value of the property being used as security.

A second charge secured loan can be secured against a range of assets, including residential and commercial properties, buy-to-let properties, and high-value assets such as luxury cars and fine art.

The eligibility criteria for a second charge secured loan can vary depending on the lender. However, at Ramsay & White, we consider factors such as the value of the property being used as security, your credit history, and your ability to repay the loan when assessing your eligibility for a second charge secured loan.

To apply for a second charge secured loan with Ramsay & White, simply get in touch with one of our expert advisors, who will guide you through the process and help you find the right second charge secured loan product for your needs.

The eligibility criteria for a second charge secured loan can vary depending on the lender. However, at Ramsay & White, we consider factors such as the value of the property being used as security, your credit history and your ability to repay the loan when assessing your eligibility for a second charge secured loan.

Which product you choose depends on your needs and circumstances.

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A secured loan is an excellent choice for raising money quickly even if you have bad credit. It also lets you avoid the expenses and complications of remortgaging your property.

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On the other hand, remortgaging is better when you’ve come to the end of your mortgage term and want to negotiate a lower interest rate. If you have good credit, you should be able to remortgage your property without issue.

Plenty of lenders are willing to offer secured homeowner loans for pensions and retired people aged 60, 70 or even 80 years old. Be aware that, as an older borrow, certain limitations may be applied to your loan term.

You can use any rental property you own as collateral for buy-to-let secured loans. That includes single-family houses, houses in multiple occupation (HMOs) and holiday let property. Buy-to-let secured loans let you quickly raise money without putting your own home at risk.