With secured loans, lenders take a second charge over a main residence or buy-to-let property. The lender would then provide a new loan with the existing mortgage staying where it is. Secured loans are a good option for for clients wishing to access finance with low credit scores Low credit scores can make it hard for clients to get a low-rate personal loan.
The amount of money available to borrow on secured loans is dependant on various factors. Withstanding factors include the potential borrowers income, existing debts, asset values, equity available & credit scores. However, Invest Develop is able to obtain secured loans for clients even with adverse credit.