SECURED LOANS IN BENFLEET
Being a broker Hoskin Home Loans cover the Benfleet area and has access to lenders with considerable funds, being a broker we provide second charge secured loans from £3,000 to greater 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:
WIDE NETWORK OF FUNDERS
Being a broker we have got the means to access a vast network of private and mainstream funders make it possible for us to seek out you the finest deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 years.
RAPID AND COMPETENT SERVICE
We realise how important it truly is to receive responsive customer care. That’s why we respond to enquiries promptly and provide a One Day Decision, which is usually within 1 hour. We’ll also process and dispatch all documentation on the same day.
EXPERIENCED TEAM
By working with Hoskin Homeloans, you can be certain you’re dealing with experts. Each of our underwriters have extensive expertise in the finance industry and direct connections with our funders.
FCA REGULATION OF SECURED LOANS
Secured loans are here to stay and are now regulated by the Financial Conduct Authority (FCA), if you’re a mortgage advisor or an intermediary in the financial world you need to develop a relationship with a secured loan broker like Hoskin home Loans to ensure that 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.” Be regarded as a forward thinking broker and collaborate today with an FCA compliant company.
HOMEOWNER LOAN
Are you currently a homeowner who has been turned down for a personal financial loan? Have you thought about securing the loan against your property? Continue reading to discover the things to ask prior to choosing to take out a homeowner loan.
So what is a homeowner loan?
A homeowner loan will only be offered to those who already have got a mortgage. This style of borrowing is typically referred to as a secured loan as the debt is secured against an asset, which may then be repossessed should repayments not be 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.
How much money can I borrow?
The total amount of the loan granted can differ from lender to lender, but homeowner loans are generally up to the amount of £200,000. Lenders feel much more confident in granting loans to borrowers who are prepared to secure the credit against an asset.
How quickly must I repay my homeowner loan?
Due to the characteristically significant amount of credit associated with a homeowner loan, it’s repayment can 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 an opportunity to repay a homeowner loan early, but doing this may incur an early settlement charge, that is added onto the remaining balance at the time that a settlement figure is requested.
Our home is jointly owned, does this mean that the homeowner loan also 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 looked at. Together with credit score, affordability will also be assessed to measure the monthly outgoings against the joint income.
You understand your house is one of the more important investments you will ever make. Additionally you realize that without constantly maintaining and enhancing your home, it is an investment which will never grow in value. However, what should you do if you do not have the funds to make the improvements you are hoping to make? We recommend making an application for one of the numerous home improvement loans now available in the UK. A secured home loan is one of the best financial tools accessible to homeowners. These loans allow the individual to leverage the value already in his or her home to borrow considerable 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 acquiring a cheap home improvement loan.
The first step in acquiring a cheap secured loan is knowing 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 on 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 which has an outstanding mortgage balance of £70,000 has equity of £30,000.
If you do not yet have a family budget, you should create one in order to determine how much you really can afford for monthly loan payments. People who already have a budget need to adjust it to make certain 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 property.
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 all too easy to accumulate expensive debts. If they’ve different payment dates one could get missed, but debt consolidation lets you 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 charge 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 show 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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