SECURED LOANS IN ROMFORD
Being a broker covering the Romford area, Hoskin Home Loans has access to loan providers with significant funds, as a broker we offer second charge secured financial loans from £3,000 to more than £2.5 million with LTV’s as much as 95%. We pride ourselves on our experience and transparent responsive service, with key benefits including:
EXTENSIVE NETWORK OF FUNDERS
Being a broker we have access to a vast network of private and mainstream funders to enable us to obtain you the finest deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 years.
SPEEDY AND COMPETENT SERVICE
We know how important it truly is to have responsive customer support. That’s why we deal with enquiries promptly and offer a Same Day Decision, which is usually within 1 hour. We will also process and dispatch all documentation on the same day.
EXPERIENCED TEAM
By working with Hoskin Homeloans, you can be certain you’re working with experts. All of our underwriters have extensive experience within the finance industry and direct relationships with our funders.
FCA REGULATION OF SECURED LOANS
Secured financial loans are here to stay and are now regulated by the Financial Conduct Authority (FCA), if you’re a mortgage advisor or an middleman in the financial world you need to build a relationship with a secured loan broker like Hoskin home Loans to ensure you conform to the rules and regulation set out in the FCA’s consultation paper CP14/20, “where a borrower wants to raise additional funds, they must be made aware that in addition to a further advance or remortgage, a second charge may be more appropriate.” Become a forward thinking broker and join forces today with an FCA compliant company.
HOMEOWNER LOAN
Are you a property owner that has been declined for a personal loan? Have you considered securing the loan against your property? Read on to uncover the questions you should ask prior to choosing to take out a homeowner loan.
So what is a homeowner loan?
A homeowner loan will only be available to those who have already got a mortgage. This kind of borrowing is sometimes referred to as a secured loan because the debt is secured against an asset, which can then be repossessed should repayments stop being made. This decreases the risk to the lender, which could result in preferential interest rates, but presents a risk for the borrower who could lose their property if payments are defaulted.
What amount can I borrow?
The total amount of the loan granted can differ from lender to lender, but homeowner loans are generally up to the value of £200,000. Lenders feel much more confident in granting loans to borrowers who are ready to secure the credit against an asset.
How quick must I repay my homeowner loan?
Because of the characteristically large amount of credit associated with a homeowner loan, it’s repayment may be spread across a term of up to 30 years. This lengthy term could mean that borrowers can benefit from low monthly interest rates, although be aware that more interest would be paid overall.
Can a homeowner loan be repaid early?
Yes, there is the opportunity to repay a homeowner loan early, but doing so may incur an early settlement charge, and that’s added to the remaining balance at the time that a settlement figure is requested.
Our home is jointly owned, does this mean that the homeowner loan needs to be in both names?
A homeowner loan is secured to the property rather than to the individual, meaning that if the property is jointly owned, the credit rating of both owners has to be looked at. In combination with credit score, affordability will also be assessed to determine the monthly outgoings against the joint income.
You understand your property is one of the most important investments you will ever make. Also you know that without constantly maintaining and improving your home, it is an investment which will never grow in value. However, what do you do if you don’t have the money to make the improvements you are hoping to make? We recommend applying for one of the many home improvement loans currently available in the UK. A secured home loan is one of the better financial tools available to homeowners. These loans permit the individual to leverage the value already in his or her home to borrow large amounts of funds with friendly repayment terms. Moreover, as a secured loan, this financing is inexpensive and reasonably easy to get, provided you have equity in your home. Here is a brief, step-by-step guide to getting a cheap home improvement loan.
The first step in acquiring a cheap secured loan is understanding how much you are eligible to borrow. You can figure that out by calculating the equity in your home. Equity is the difference between how much your house is worth on the retail market and just how much you currently owe to your mortgage. Just subtract your mortgage balance from the retail value of your home; the resulting number will be your equity. For instance, a home worth £100,000 which has an outstanding mortgage balance of £70,000 has equity of £30,000.
If you don’t yet have a family budget, you need to create one in order to decide how much you really can afford for monthly loan payments. Those who already have a budget should adjust it to make sure unnecessary spending is curtailed. Without a proper and reasonable budget in place, it is too easy to become overextended with a secured home loan. That’s not a good idea if you think about the fact that defaulting on a home loan could result in the repossession and sale of your home.
Tailored debt consolidation, for extra control.
A credit card here, a holiday loan there, an outfit on a store card, a new TV with monthly payments, it’s way too easy to accumulate expensive debts. If they have different payment dates one might get missed, but debt consolidation enables you to pay them all off with one low rate loan that only needs a single payment every month.
Stop missed payments, rebuild your credit rating.
Debt consolidation makes it easy to take control of spiralling credit payments, so that you can reduce your monthly bills and rebuild your credit rating by proving to lenders that you can manage your finances. Our expert customer managers will share with you how to work out any early repayment charges, talk you through your options and direct you through every step of the application process so you’ll soon be back on track.
To Contact Us at Hoskin Home Loans please telephone us on 01621 876030 or alternatively e-mail us on the contact from below.
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