SECURED FINANCIAL LOANS IN COLCHESTER
Being a broker covering the Colchester area, Hoskin Home Loans can access loan providers with substantial funds, being a broker we provide second charge secured 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:
VAST NETWORK OF FUNDERS
Being a broker we’ve access to a large network of private and mainstream funders to enable us to seek out you the best deal. With highly competitive rates, 95% LTV’s and repayment options from 5 to 30 yrs.
SPEEDY AND EFFICIENT SERVICE
We realise how important it truly is to receive responsive customer support. That’s why we respond to enquiries promptly and provide a Same 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 confident you’re dealing with experts. All of our underwriters have extensive expertise in the finance industry and strong relationships 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 middle man 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 collaborate today with an FCA compliant company.
HOMEOWNER LOAN
Are you a property owner who has been declined for a personal loan? Have you investigated securing the loan against your property? Continue reading to uncover the questions you should ask prior to choosing to obtain a homeowner loan.
What is a homeowner loan?
A homeowner loan is only available to those who already have a mortgage. This type of borrowing is sometimes known as a secured loan because the debt is secured against an asset, which could then be repossessed should repayments not be made. This decreases the risk to the lender, which may result in preferential interest rates, but presents a risk for the borrower who could lose their home if payments are defaulted.
What amount can I borrow?
The total amount of the loan granted can vary from lender to lender, but homeowner loans are typically up to the value of £200,000. Lenders feel more confident in granting loans to borrowers who are willing to secure the credit against an asset.
How soon do I need to repay my homeowner loan?
Because of the characteristically large amount of credit connected with a homeowner loan, it’s repayment may 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 will 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, which is added onto the remaining balance at the time that a settlement figure is requested.
Our house 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 will have to be taken into account. In addition to credit score, affordability will also be assessed to determine the monthly outgoings against the joint income.
You know your property is one of the most important investments you’re going to ever make. Additionally you realize that without constantly maintaining and enhancing your home, it is an investment that will never grow in value. However, what should you do if you don’t have the money to make the improvements you are hoping to make? We suggest making an application for one of the many home improvement loans now available in the UK. A secured home loan is one of the best financial tools available 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 cheap and fairly easy to get, provided you have 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 eligible 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 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 determine how much you really can afford for monthly loan payments. People who already have a budget need to adjust it to make sure 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 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 more 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 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 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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