Secured Loan
The key difference is that a secured loan is attached to your property and any payments missed will mean a potential loss of your home. Consider a number of factors before taking out a secured loan, the key factors are shown below.
Complete our enquiry form and our mortgage team will be glad to help.
Secured Loan Key factors:
Secured Loan: This is a home loan that is in addition to your mortgage and will be with a different company than your mortgage company.
Secured Loan Advantages: Secured loan rates will be slightly higher than mortgage rates but lower than a personal loan. A secured loan is quicker to organise than a top-up to your mortgage but outside of that it has no advantage on a top up to your mortgage loan.
Secured Loan Disadvantages: If you miss payments on a secured loan your home is at risk.
You may find a Mortgage Loan more preferable than a secured loan
To find out what a Mortgage Loan is, click the following link: What is a Mortgage Loan?
'Think carefully before securing other debts against your home'
'Your home may be repossessed if
you do not keep up repayments on your mortgage'
'Worldwide Financial Planning Ltd are authorised and regulated by the Financial Services Authority. Worldwide is entered on the FSA register www.fsa.gov.uk/register/ under reference 440668
Registered office; The Old Carriage Works, Moresk Road, Truro, Cornwall, TR1 1DG. Registered in England and Wales No. 3533548. Contact info@wwfp.net or 01872 222 422
© 2007 Worldwide Financial Planning - this site is intended for UK investors only
By clicking on any of the external links within this website you will leave the regulatory site of Worldwide Financial Planning Ltd. Worldwide Financial Planning Ltd are not responsible for the accuracy of the information contained within the linked sites.'