SECURED LOANS IN SOUTHEND
Being a broker covering the Southend area, Hoskin Home Loans can access loan providers with sizeable funds, as a broker we offer second charge secured loans from £3,000 to greater than £2.5 million with LTV’s as much as 95%. We take great pride in our experience and transparent responsive service, with key benefits including:
HUGE COMMUNITY OF FUNDERS
As a broker we’ve access to a large network of private and mainstream funders to enable us to search out you the finest deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 years.
RAPID AND EFFICIENT SERVICE
We understand how important it is to receive responsive customer service. That’s why we reply to enquiries promptly and provide a One 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 confident you’re working together with experts. Each of our underwriters have extensive experience in the finance industry and direct connections 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 middle man in the financial world you’ll want to establish a relationship with a secured loan broker like Hoskin home Loans to ensure that you abide by 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.” Be regarded as a forward thinking broker and join forces today with an FCA compliant company.
HOMEOWNER LOAN
Are you a home owner that has been declined for a personal financial loan? Have you thought about securing the financial loan against your property? Continue reading to discover the questions you should ask prior to choosing to take out a homeowner loan.
What is a homeowner loan?
A homeowner loan will only be available to those who already have a mortgage. This style of borrowing is sometimes referred to as a secured loan as the debt is secured against an asset, which could then be repossessed should repayments stop being made. This reduces the risk to the lender, which could result in preferential interest rates, but presents a risk to the borrower who could lose their home 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 usually up to the value of £200,000. Lenders feel much more confident in granting loans to borrowers that are prepared to secure the credit against an asset.
How quickly do I need to repay my homeowner loan?
Because of the characteristically significant amount of credit connected with a homeowner loan, it’s repayment can be spread across a term of up to 30 years. This lengthy term can often 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 an opportunity to repay a homeowner loan early, but doing this may incur an early settlement charge, that is added to the remaining balance at the time that a settlement figure is requested.
Our house is jointly owned, does this mean that the homeowner loan needs to be in both names?
A homeowner loan is secured to the property instead of to the individual, meaning that if the property is jointly owned, the credit rating of both owners has to be taken into consideration. In combination with credit score, affordability will also be assessed to determine the monthly outgoings against the joint income.
You know your home is one of the more important investments you’ll ever make. You also realize that without constantly maintaining and improving your home, it is an investment which will never grow in value. However, what should you do if you don’t have the funds to make the improvements you are hoping to make? We recommend making an application for one of the many home improvement loans now available in the UK. A secured home loan is one of the better financial tools accessible to homeowners. These loans allow the individual to leverage the value already in his or her home to borrow large amounts of money with friendly repayment terms. Moreover, as a secured loan, this financing is inexpensive and reasonably easy to get, provided you have got equity in your home. Here is a brief, step-by-step guide to obtaining a cheap home improvement loan.
The 1st step in acquiring a cheap secured loan is understanding how much you are entitled 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 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 property worth £100,000 having an outstanding mortgage balance of £70,000 has equity of £30,000.
If you do not yet have a household budget, you should create one in order to decide how much you can afford for monthly loan payments. Those who already have a budget should adjust it to make certain unnecessary expenses are 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 when you consider the fact that defaulting on a home loan could result in the repossession and sale of your property.
Tailored debt consolidation, for more control.
A credit card here, a holiday loan there, an outfit on a store card, a new TV with monthly payments, it’s very easy to accumulate expensive debts. If they’ve different payment dates one might get missed, but debt consolidation enables you to pay them all off with one low rate loan that just 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 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 show you how to work out any early repayment charges, talk you through your options and guide 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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