SECURED FINANCIAL LOANS IN CHELMSFORD
Being a broker covering Chelmsford, Hoskin Home Loans has access to lenders with considerable funds, as a broker we offer second charge secured financial loans from £3,000 to in excess of £2.5 million with LTV’s as high as 95%. We pride ourselves on our experience and transparent responsive service, with key benefits including:
LARGE NETWORK OF FUNDERS
Being a broker we have got access to a huge network of private and mainstream funders to allow us to locate you the very best deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 years.
SPEEDY AND EFFICIENT SERVICE
We realise how important it truly is to receive responsive customer service. 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 experience of 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 are a mortgage advisor or an middleman in the financial world you need to develop a relationship with a secured loan broker like Hoskin home Loans to ensure you adhere 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 a forward thinking broker and team up today with an FCA compliant company.
HOMEOWNER LOAN
Are you currently a homeowner that has been declined for a personal financial loan? Have you thought about securing the financial loan against your property? Continue reading to uncover the things to ask before choosing to take out a homeowner loan.
So what is a homeowner loan?
A homeowner loan is only offered to those who have already got 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 not be made. This cuts down the risk to the lender, which may 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 typically up to the amount of £200,000. Lenders feel more confident in granting loans to borrowers that are prepared to secure the credit against an asset.
How quick do I need to repay my homeowner loan?
Because of the characteristically significant amount of credit associated with any homeowner loan, it’s repayment can be spread across a term of up to 30 years. This lengthy term can often mean that borrowers may benefit from low monthly interest rates, although keep in mind 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 also needs to be in both names?
A homeowner loan is secured to the property rather than to the individual, which means that if the property is jointly owned, the credit rating of both owners needs to be taken into consideration. In combination with credit score, affordability will also be assessed to measure the monthly outgoings against the joint income.
You understand 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 do not have the funds 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 best financial tools accessible to homeowners. These loans permit 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 cheap and reasonably easy to get, provided you have got equity in your home. Here is a brief, step-by-step guide to getting a cheap home improvement loan.
The first step in obtaining 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 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 house 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 need to create one in order to decide 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 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 charge of spiralling credit payments, so that you can reduce your monthly bills and rebuild your credit rating by proving to lenders that one 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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