There may be times where you would like to release some of the equity tied up in your house, whether it be for home improvements, consolidation of other debt or any other purpose.

Traditionally, your options were to apply for a further advance with your existing lender or remortgage to a different lender whilst increasing your mortgage by the amount you want to release.

Both of these options are worthy of consideration but not always a viable option.

For example, further advances tend to be at a much higher rate than your mortgage rate and you may be limited to the amount you can borrow.

Similarly, a remortgage to a new lender may not be the best option if you are still tied in to a deal from your current lender as you may incur a hefty penalty to leave early.

In these instances, a secured loan may work out to be a better option. You can typically borrow against 90% of your property value, quickly and easily. And because the loan is secured against your home, rates tend to be very competitive.

Once your current mortgage deal has expired, we can amalgamate your mortgage and secured loan into a competitive remortgage which will often work out cheaper than the cost of a mortgage and separate secured loan.

We currently have access to 11 of the main secured loan providers and will always ensure that you get the cheapest for your circumstances.

And, don’t worry, you DO NOT have to have the extortionately expensive Payment Protection Insurance alongside your loan. Many lenders have been criticised for overly expensive insurance for which they charge a single premium which is then added to your loan and thus charged interest on it.

If you want payment protection insurance to cover a loan or mortgage, there are plenty of decent insurances available where you pay a monthly premium with no interest and significantly cheaper premiums.

For a free, no obligation quotation, please contact us or use the Quick Response form across.