Would you recommend a secured loan above a remortgage?
Thanks to an increase in the maximum LTV available (now up to 85%), more and more customers are now qualifying for a secured loan and they can often be recommended ahead of a remortgage.
 
Want to know Why?
  • It's often cheaper to take out a Secured Loan than to Re-mortgage because your customer won't need to redeem their current mortgage. So they keep any beneficial rate they are on and won't have to pay any Early Redemption Charges.
  • They can also borrow the money over a shorter term (typically a minimum of 5 years). There is no need to arrange the loan over the same term as the mortgage and thus they could save huge amounts in interest charges.
  • Mortgage arrears, CCJ's, defaults and poor profile can be accommodated on many plans - particularly useful if these have occured since the mortgage was arranged and any new mortgage would be at a higher rate of interest.

Using a Secured Loan to enable your customer to consolidate credit cards and other expensive loans could free-up enough monthly disposable income to enable them to invest in your other products! 

For more information click here or call Gemma Monk on (01244) 674411
 
 


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