Loan Article

Looking for the best remortgage deal? - Mortgage article from Secured Loans Park

Get some independent advice to help you shop around and find the best deal for you.

Remortgaging our home is one the greatest expenses we will ever encounter in our lifetime, but far too many people don’t know how to find the best deals available to them, preferring to stay with their own bank rather than shop around and find what else is available in the whole of market.

Steve Pollard of Secured Loans Park comments, “Many of our customers come to Secured Loans Park because they want independent advice and access to the whole of market. This means that we look at the products and rates from all lenders in the marketplace and not just a couple of selected products from a client’s own bank or existing lender. It is a misconception that the high street banks have the most competitive rates and that their fee charges are low.

At Secured Loans Park we take the hassle out of going to various lenders and trying to find the best deal. We do this by understanding what our client’s current situation is and what they wish to achieve. We then identify what solutions are available to them and explain these options in detail. This means that our customers have a clear understanding of how these products compare to their current offers.”

Steve concludes, “We recognise that everyone has different needs and circumstances and you may find that some lenders will not be able to lend to you. For instance you may not have proof of income or have a  poor credit rating, Secured Loans Park has the experience to place you with the right lender straight away."

When it comes to getting the most for your money and shopping around for the best remortgage deal we can help you.

If you have any questions about finding the best remortgage deal, please do not hesitate to contact our mortgage advisers on freephone 0800 0778956 or by email at

What is a secured loan ? - loan article from Secured Loans Park

If you are looking for a loan at the cheapest rates then secured loans are the best option. A secured loan is a loan that is secured on your property and can be either on your main residence or in some circumstances a buy-to-let property. By providing the lender with some sort of security means that you, the borrower, will be offered a far lower interest rate with a secured loan than with an unsecured loan. This is because there is less risk for the lender. Since secured loans are secured on property, most lenders will consider your secured loan even if you have a bad credit history, although you may pay a higher rate if you do have a bad credit history. This is also subject to equity being available in your property.

Loans can be secured against your property only when you have an existing mortgage. If you do not have a mortgage at the moment and the property is your main residence, legislation does not allow for a secured loan to the be the 1st charge on your property.  Loans secured against property that is already mortgaged are known as second charges, whereas loans secured against a property owned outright with no existing mortgage in place are known as first charges.

A secured loan often has a lower interest rate and more favourable repayment terms than an unsecured loan. Furthermore, with secured loans it is more likely that you can borrow a larger sum of money and pay it back over a longer period of time. For instance unsecured loans may be restricted to a maximum £25,000, whereas secured loans can be considered up to £250,000 with some lenders.
A secured loan can be used for any purpose such as; paying off debts, making home improvements, buying a new car, luxury holiday or anything you choose! A secured loan broker such as SecuredLoansPark, will help you find the best secured loan deals whatever your circumstances and can provide a free no obligation loan quote.

Can you get a secured loan with bad credit ? - loan article from Secured Loans Park

Experts estimates that around that one in four people in the UK have some sort of adverse credit history whether these are defaults, arrears, CCJs and/or bankruptcy/IVA. Those with a bad credit history generally have difficulty obtaining finance through some lenders as they cannot satisfy the lenders credit scoring criteria. 

Though it is difficult to get a personal loan with an adverse credit record there are lenders who will still consider your case and offer loans at appropriate terms and rates of interest. These are often called bad credit loans. These bad credit loans are often secured on your property and are charged at a higher rate of interest that some other loans. However they can also be seen by many as an opportunity to improve your credit score, particularly if the funds raised are used to clear any arrears or defaulted loans.

With a bad credit secured loan, although your credit score is still an important factor, just as important is your ability to prove that you afford to repay the loan. If a lender is satisfied that you can afford and repay the loan having checkec your income and outgoings, the lender must then decided whether you have sufficient equity in your home. points. They do this by calculating the available equity in your home againts their Loan to Value (LTV) criteria. Effectively this means that the lender sets what they feel to be a maximum % of the value of your property they will lend at, say 75% LTV. They then calculate how much you could borrow (i.e. the maximum loan available to you) by multiplying the value of your home by the LTV and then deducting the balance you owe on your 1st mortgage. i.e Value £100,000 x 75% LTV = £75,000 less £50,000 outstanding mortgage, gives a max secured loan of £25,000. A secured loan broker such as Secured Loans Park can help you find a bad credit secured loan and provide you with a free no obligation loan quote.

More4 Loans are a UK secured loans broker with offices at The Elms, Doncaster Road, Rotherham South Yorkshire S65 1DY and also at 21-23 Skinner Street, Gillingham, Kent ME7 1HD. Licenced credit broker with the Office of Fair Trading (587104) and the Information Commissioners Office for Data Protection (Z1539600). A brokers fee of 10% may be charged. Read our privacy policy