Guides
Is it better to get a secured loan or remortgage?
Deciding between a secured loan or a remortgage depends on your personal financial situation and affordability. Both options involve borrowing that is secured against your property, making it crucial to ensure you can manage the monthly repayments. Failing to do so could put your home at risk of repossession.
Can I sell my house with a secured loan against it?
Yes, you can sell your house even if there is a secured loan against it. However, keep in mind that since the loan is secured by your property, it generally needs to be settled before you relocate. This can be accomplished using your own funds or from the proceeds of the sale of your house. In exceptional circumstances, it may be possible to transfer the loan to your new property.
How to get a homeowner loan
To get a homeowner loan, you’ll need to match the lender’s criteria, which can vary from one company to another. Most lenders will consider your income, affordability, credit history, property value, and equity in your property (i.e., how much you own outright).
Are home improvement loans hard to get?
The difficulty of obtaining a home improvement loan varies based on whether it is secured or unsecured, your personal circumstances, and the criteria set by the lender. If you own a home, securing a loan using your property as collateral can make it easier to obtain approval, as it offers lower risk and more security for the lender.
