Advantages of Secured Loans/Second Mortgages Click to Download Application Form. Secured loans or second mortgages are now an absolute essential as a ‘best advice’ tool. An alternative to re mortgaging, secured loans provide funds to those who would be penalised for redeeming a mortgage early or would have to accept a higher interest rate because of adverse credit or changes of circumstances generally. Setting up costs are minimal and the loan term can extend independently from the main mortgage. Cost Effective Compare it with the true cost of a re-mortgage.  It’s often cheaper to take out a Secured Loan than to Re-mortgage. No solicitors costs No HLF (Higher Lending Fee) No valuation fees No early redemption charges to existing mortgagee – mortgage remains in place Using a Secured Loan to consolidate credit cards and other expensive loans could reduce your customers’ outgoings significantly. Advantageous Cheques normally issued within 21 days Flexible terms between 5 – 25 years Mortgage arrears, CCJ’s, defaults and poor profile can be accommodated on majority of plans Favourable income multiples based on gross / net monthly income and Self-cert also available Existing mortgage not affected – useful if enjoying a beneficial rate or if credit history has altered since mortgage granted Healthy Introducer commissions payable Exit penalty is one month's interest and one month's notice regardless of loan size

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