Secured Loans

A Secured Loan is a loan which is secured on your property and sits behind your existing mortgage company’s first legal charge; commonly known as a second mortgage.

There are occasions and circumstances where it may not suit somebody to take a re-mortgage for a number of reasons. As an example of this; you may still be in a fixed rate period with your existing lender company and to re-mortgage you might find that you have to pay considerable early repayment penalties or on the other hand an applicant may find themselves in a situation where they are already enjoying a relatively low interest rate with their present lender and re-mortgaging may not be their best option.

In recent times the secured lending market has become increasingly popular, particularly as the majority of High Street lenders will not consider applicants who have had recent mortgage arrears or adverse status such as county court judgments or defaults registered against them. Providing there is a reasonable level of equity in the property there are lenders in the marketplace who will consider a second mortgage in these circumstances.

Lending criteria with re-mortgage companies has become extremely strict for the self-employed whereas in the second mortgage lending market lenders take a different view.

Another reason why a secured loan / second mortgage may be a better option is that clients might not necessarily want to raise a large sum of money and therefore the costs associated with a re-mortgage could prove a re-mortgage not to be their best interest in that particular case.

Second mortgages are regulated by the Financial Conduct Authority. Our FCA Registration is shown at the page footer.

 

If you feel a secured loan may be a better option for you or you would like to discuss your options and to make a comparison to help us assist you with your options your best options please feel free to contact us. If you have already decided that a secured loan is your favoured choice please fill in the form below, giving us any additional information that you feel we might need to put forward to potential lender companies and we will back to normally within 48 hours with a decision and if it is a positive decision we will provide to you the quotation, rates of interest, monthly payments etc.

In most cases money can be used for any purpose such as School fees, holiday homes, debt consolidation, cars & home improvements.

Please complete the following form to start your application for a secured loan

Loan Details



Amount Required: £ Term Required (yrs): Purpose of loan:
First Applicant
Title: Surname: Forenames:
Status: Maiden Name: Date of Birth:
Home Tel:      Mobile Tel:      Work Tel      Email
Second Applicant
Title: Surname: Forenames:
Status: Maiden Name: Date of Birth:



Address Details

Current Address: Previous Address:
Is current address the security address? YesNo Security Address:


Employment Details

First Applicant
Occupation: Employment Status:
Company Name: Time at present Company (years/months):
If self employed, can you supply an Accountant's reference showing 3 years net profits?
YesNo
If No, can you supply bank statements supporting income?
YesNo
Second Applicant
Occupation: Employment Status:
Company Name: Time at present Company (years/months):
If self employed, can you supply an Accountant's reference showing 3 years net profits?
YesNo
If No, can you supply bank statements supporting income?
YesNo
Income
1st Applicant Gross income: £ Other Income: £
2nd Applicant Gross income: £ Other Income Description:
CCJs? YesNo Defaults? YesNo
Details


About the property

Type of Property: BungalowTerraceSemi-DetachedDetachedFlatMaisonetteOther
Number of rooms: Bedrooms      Reception     Bathrooms
Construction: Brick/TileConcreteWood/Timber FreeholdLeasehold    Leasehold years remaining:
Any Significant improvements to property since purchase? YesNo
Improvement Details:


About the Mortgage

1st Mortgage
Approx Outstanding: £ Total Monthly Payment: £
Total Arrears: £ Approx Redemption Figure: £
Lender:
2nd Charge
Approx Outstanding: £ Total Monthly Payment: £
Total Arrears: £ Approx Redemption Figure: £
Lender:
Year Property Built: Purchase Date:
Purchase Price: £ Current Value: £
Shared Ownership? YesNo Ex-Council? YesNo
If ex-Council, was it purchased direct from the Council? YesNo Council Direct Purchase Discount Given: £

Declaration

Credit Check Authority & Data Protection Read
I have read the data protection statement below & agree & authorise the use of credit search information in connection with this application:
YesNo

Please enter the anti-spam code below & click submit

captcha

Data Protection Statement

Information held about you by the credit reference agencies may already be linked to records relating to one or more of your financial partners. For the purposes of this application you may be treated as financially linked and your application will be assessed with reference to any associated records. If you are a joint applicant – or if you have told us of some other financial association with another person – you must be sure that you are entitled to:(a) Disclose information about your joint application and anyone referred to by you; and(b) Authorise us (broker or lender) to search, link or record information at Credit Reference Agencies about you and anyone referred to by you. An association between joint applicants and between you and anyone you tell us is your financial partner will be created at Credit Reference Agencies. This will link yiour financial records, each one of which will be taken into account in all future applications by either one or both of you. This will continue until one of you sucessfully files a disassociation at Credit Reference Agencies.Credit Scoring or other automated decision-making systems will be used when assessing your application. It is important that you give us accurate information. If you are unhappy with the decision you may, within 21 days of receiving notification, write to us to reconsider the application or take a new decision on a non-automated basis.

We will check your details with fraud prevention agencies and if you give false or misleading information and we suspect fraud, we will record this.

How our lenders use the agency information:

• prevent fraud and money laundering, for example by checking details on applications for credit and credit-related or other facilities, proposals and claims for all types of insurance and job applications and employee records;
• recover debts that you owe and trace your whereabouts;
• manage credit accounts and other facilities;
• verify your identity;
• make decisions on credit, insurance and other facilities, about you, your financial associate(s), members of your household or your business; and
• carry out statistical analysis to help with decisions about credit and account management.

The information held by these agencies may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection Act 1998.

Martland Mortgages.com Ltd. Registered Number:06683754 •
Data Protection Number: Z1552150 • Consumer Credit Licence Number: 640240 • FCA Number: 586147
Westminster Chambers, 106 Lord Street, Southport, Merseyside. PR8 1PF. 01704 808286

Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Copyright 2012 Martland Mortgages.com Ltd • SEO & Online Marketing by clickSCR