Finding secured loans can be difficult, especially if your credit score is less than ideal. If you own valuable assets like a house or vehicle, a secured loan might be an option if you can’t get a personal loan. However, when taking out secured loans, it is essential to analyze the risks: if you are struggling to maintain mortgage payments, the lender will claim your asset.
In this article, we will highlight some of the best secured loan companies in UK that will help you choose the one that is right for you and meets your needs.
- West One Guaranteed Loans
- Paragon Bank Plc
- Shawbrook Bank
- Optimum Credit Ltée
- Mast Haven Bank Ltd
- United Trust Bank
- Step One Finance Limited
- Secure Loan Package
WEST ONE GUARANTEED LOANS:
West One Loans can provide financing options to the industrial, private and residential markets, including regulated secured loans for owner-occupied properties. This allows their clients to use their current assets to embrace new markets and open up new territories while remaining secure in their finances. Since West One Loans is an established lender with a large number of real estate finance skills, they can easily reverse loans to meet the demands of a short time frame which is essential to real estate growth where every hour counts.
The products offered by West One Loans also provide high-value, secure commercial loans that businesses can use to acquire new properties, new investments or essentially to free up working capital. By providing versatile products that can be customized to meet the needs of each particular project, West One Loans can meet the needs of each client.
PARAGON BANQUE PLC:
Any good bridge lender should define their primary market and focus on the consumers who matter most to them. Paragon Bank works hard to provide the type of financing that homeowners, businesses, and developers find invaluable in assembling loans that meet their needs. For many borrowers, a secured loan is a quick and inexpensive way to achieve short-term growth, and this method of financing is widely used to buy homes at auction.
Paragon banks can meet the demands of their customers by moving away from the conventional “checkbox” model and choosing a more innovative and versatile solution. This helps them establish payment terms and conditions that are suitable for each particular borrower, offering loans that are specifically tailored to meet a variety of needs.
Shawbrook Bank is a long-standing source of banking solutions for commercial and retail customers, offering everything from secured loans to corporate finance. Their business finance loans can be extended to a wide variety of areas of specialization, including taxi, marine, transportation, agriculture, pharmacy, and medical finance. These specialty industries also lack a designated lender who can provide financial solutions that fully meet their needs and the lending choices that Shawbrook Bank offers to go a long way in supporting businesses in these industries.
In addition to cash flow financing and specialty loans, Shawbrook Bank now offers a wide variety of mortgage options on the first two charges. They are available for industrial and home use with varying prices to meet the needs of each customer. These services benefit from the proven history and high degree of trust that Shawbrook Bank has developed over the past 70 years in business.
OPTIMAL CREDIT LTD:
Provider of second mortgage loans to homeowners in the UK. The company’s portfolio of discretionary, fixed and subsidized second load mortgages offers flexible, no-fee overpayment solutions that encourage clients to either shorten their second load term or shorten monthly repayments. , depending on their individual and personal situation.
Their goal is to provide clients with a second mortgage fee that suits their particular and specific circumstances. Optimum Finance could give you a second mortgage fee worth £ 5,000 to £ 1,000,000. They provide affordable fixed, discounted and flexible pricing services. The exact rate they give will depend on your case and your financial situation.
MASTHAVEN BANK LTD:
Setting up a variety of financial products involves in-depth knowledge of the market as well as the needs of the consumer. Loans in the secured finance industry could be used for several different applications, and the lender must meet the needs of the client; otherwise, it would not be effective. Masthaven Bank has proven itself to be a leading lender in the market and offers a wide variety of financing options that can be used to meet many diverse needs, from innovative construction financing to first and second tier residential loans. .
Masthaven also offers regulated secured loans, allowing them to finance homeowners for break-in and renovation reasons. Where Masthaven sits well above the crowd is its willingness to put clients first, and the bridging financing they offer typically encourages borrowers to “pool” their interests, deferring payment before payment. end of loan term. This encourages borrowers to grow rapidly and decisively, freeing themselves from the constraints of their cash flow, to harness resources as they become available.
UNITED TRUST BANK:
As a provider of financial products to businesses and individuals, United Trust Bank is one of the few secured lenders that can truly meet the needs of any client. As United Bank offers a wide variety of product styles suitable for multiple multiple approaches, they can set loan terms to suit each client and particular project. This versatility is crucial when working in the secured loan finance market, as it allows businesses and investors to take advantage of favorable financial conditions to grow faster and more sustainably.
United Trust Bank offers a variety of loans, which are controlled by the Financial Conduct Authority, to enable it to use owner-occupied property as collateral when building a loan package. This is a very useful choice for many borrowers as it allows them to free up money for other uses which makes United Trust Bank the first call stop for several different clients. The highly personalized design of United Bank’s loan products also enables them to provide tailored financing to specialists, including accountants, engineers, doctors and lawyers. These types of financing are best suited to provide financial flexibility and versatility to top performing clients.
STEP A FINANCE LTD:
Step One was founded in 2010 and aims to manage an industry-leading consumer credit market focused on conventional lending principles. Based in a small London office, they are now located in Woking, Surrey, where their team of trained professionals provide tailor-made loan solutions. They are licensed and supervised by the Financial Conduct Authority and are also members of the Finance & Leasing Association.
They can meet the needs of the client by customizing each plan accordingly. The highly customizable design of their services and products is helpful to plan according to your needs without any hassle.
TOGETHER GUARANTEED LOANS:
Every borrower should understand that the lender they are borrowing is trustworthy and secure, and that they have the skills to meet the unique criteria of their project. Together, the lender can meet all of these needs and more thanks to its wide range of products and its deep expertise in the real estate finance industry. The secured financing available from Together can be used for several different purposes, including auctions and property acquisitions.
In addition, ensemble provides all of its bridging products in the form of second rate loans, helping borrowers expand their current investments much more into fairly lucrative businesses. Together, still encouraging borrowers to borrow bridging loans to raise operating capital, the ability to securitize reserves a second time allows companies to restructure their bonds and start trading. Together, secured loans offer a wide variety of options, including more conventional loans and mortgages, with all types of financing offering customizable terms to meet the needs of various consumers.
- HOW LONG IS A GUARANTEED LOAN?
Many unsecured loans are supported for no more than five years. However, for a secured loan, you can spread the debt repayments over 5 to 30 years!
- WHAT DOES THE TERM LOAN ON VALUE MEAN?
Loan to Value is the term used by mortgage lenders to assess the value of the loan against the overall value of the land.
- WHAT IS A GUARANTEED LOAN USED FOR?
You can use a secured loan to do anything. Debt restructuring, vacations, new vehicles or home renovations are also legitimate pretexts for taking out a homeowner loan.
Variable rate refers to the interest rate linked to other prices that vary considerably over time, such as the base rate of the Bank of England. Other than fixed rates, flexible rates are usually much cheaper in the short term, but they don’t promise to stay low.