Secured Loan

A secured loan is a term used whereby a loan is taken and secured against a small percent of the mortgage. This means that anyone looking to get a secured loan must already have a mortgage with significant payments and can’t have an existing secured. Secured loans are set based on client’s criteria regarding the property value, mortgage outstanding and the amount the client wishes to borrow. This calculation is called LTV.

LTV = (amount + mortgage outstanding + loan required) / property value

Secured Loan Rate

The APR regarding secured loans can seam daunting due to the way that the APR calculations are completed. APR has long been an incorrect way to compare products as the term for secured loans are normally quite high and a number of fees must be included to pay the Broker and the Lender who provides the loan can make the APR appear high. Also different lenders calculate the Secured Loan APR Rate differently therefore making any APR comparison between different lenders impossible. The only way to compare a secured loan product is by Loan, Term and monthly Payment.

One thing to note regarding your secured loan is that you can pay this back at any time with only 2 month interest. This means you can borrow £100,000 and in six month you will only have paid £2,000 in interest payment!

Secured Loan Offers

Class Finance is currently doing an amazing secured loan offer. Get £300 to £1,500 in your hand when you complete your loan application in our amazing Money Back super Give Away. As a special promotional offer Class Finance is offering a large lump sum payment on completion of a secured loan. After the Christmas period many people turn to secured loans as a viable finance solution. Class Finance is helping those people by offering a lump sum on completion of their secured loan.

www.classfinance.co.uk