SECURED FINANCIAL LOANS IN CLACTON
Being a broker covering the Clacton area, Hoskin Home Loans has access to loan companies with significant funds, as a broker we provide second charge secured financial loans from £3,000 to more than £2.5 million with LTV’s as high as 95%. We take great pride in our experience and transparent responsive service, with key benefits including:
HUGE NETWORK OF FUNDERS
As a broker we’ve the means to access a large network of private and mainstream funders to allow us to obtain you the best deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 yrs.
RAPID AND RELIABLE SERVICE
We realise how important it truly is to receive responsive customer service. That’s why we deal with enquiries promptly and offer a One Day Decision, which is usually within 1 hour. We’ll also process and dispatch all documentation on the same day.
SKILLED TEAM
By working with Hoskin Homeloans, you can be certain you’re dealing with experts. All 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 intermediary in the financial world you’ll want to establish a relationship with a secured loan broker like Hoskin home Loans to ensure you comply with 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 homeowner that has been turned down for a personal financial loan? Have you investigated securing the loan against your property? Read on to discover the questions you should ask prior to choosing to take out a homeowner loan.
What is a homeowner loan?
A homeowner loan is only available to those who have already got a mortgage. This style of borrowing is sometimes known as a secured loan because the debt is secured against an asset, which can then be repossessed should repayments not be 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 house if payments are defaulted.
How much can I borrow?
The 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 more confident in granting loans to borrowers that 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 any homeowner loan, it’s repayment can be spread across a term of up to 30 years. This lengthy term could mean that borrowers may benefit from low monthly interest rates, although be mindful 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 this may incur an early settlement charge, which is added to the remaining balance at the time that a settlement figure is requested.
Our property is jointly owned, will 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. Together with credit score, affordability will also be assessed to determine the monthly outgoings against the joint income.
You understand your home is one of the most important investments you’ll ever make. You also realize that without constantly maintaining and enhancing your home, it is an investment which will never grow in value. However, what do 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 numerous home improvement loans currently 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 considerable amounts of cash with friendly repayment terms. Moreover, as a secured loan, this financing is cheap and fairly easy to get, provided you’ve got equity in your home. Here is a brief, step-by-step guide to acquiring a cheap home improvement loan.
The 1st step in obtaining a cheap secured loan is knowing how much you are entitled to borrow. You are able to 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 example, a property worth £100,000 with an outstanding mortgage balance of £70,000 has equity of £30,000.
If you don’t yet have a household budget, you need to create one in order to decide how much you can afford for monthly loan payments. Those 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 when you consider 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 very easy to build up 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 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 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 share with 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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