A secured loan or ‘second charge’ is a personal loan that homeowners secure against the equity in their property.
Secured loans can be arranged against:
- Principal place of residence
- Buy-to-let properties
- Commercial properties
Fortress Capital sources its secured loans from a whole-of-market panel of lenders, which, combined, covers all types of products from prime clients through to clients with recent or historic credit problems.
Secured loans can be used in a variety of scenarios, for example:
- Avoid paying an Early Repayment Charge (ERC) on an existing mortgage.
- Client has a very low standard variable rate (SVR) or bank base rate (BBR) tracker mortgage that they do not want to move away from.
- Raise finance for any legal purpose, including debt consolidation, home improvement and business funding.
- Raise money quickly – loans are typically completed in 2–3 weeks through Fortress Capital.
Some unique selling points of a secured loan:
- Loans from £10,000–£250,000
- Up to 95% LTV on residential properties
- Up to 70% LTV on commercial and buy-to-let properties
- Up to 75% LTV for clients with credit problems (the more severe the problems the lower the LTV)
- Loan terms of 5–30 years
- Interest-only and repayment options available
No upfront costs to set up a secured loan – Fortress Capital will cover all costs, including valuation.
Max early redemption charge (ERC) is one month’s interest after one month’s notice.
For more information or to arrange a face to face meeting with one of our advisers, please complete the contact form on the right, or email firstname.lastname@example.org or call Ashley Reading on +44 7803 120408