Loans

Secured Loans from Caboodle

At Caboodle your finance needs are our priority

  • No obligation enquiry
  • Experienced advisers to guide you through the process step-by-step
  • Straight forward telephone and postal service
  • No upfront fees. Any fees payable are only due on completion and can be added to your loan

Secured loans are becoming increasingly popular amongst homeowners wishing to raise capital as an alternative to unsecured lending or a remortgage.

Some of the most common reasons for choosing a secured loan are…

  • High street banks and other lenders have restricted who they will lend to and how much they will lend on an unsecured basis meaning that some people either cannot access the finance they want or are not able to raise the amount they require.
  • Secured Loan lenders will consider customers who have an adverse credit history, are self employed, have been declined finance already or who are in receipt of benefit income.
  • Borrowers who are on good mortgage rates or have significant early repayment charges for switching do not wish to lose the arrangement they have with their existing mortgage lender.
  • Personal circumstances have changed since the original mortgage was taken out and therefore borrowers either cannot move to a new mortgage product or do not wish to sacrifice the deal they have to raise the additional funds they need.
  • The main loan purpose being for consolidation of existing credit, which is not always acceptable to mortgage lenders.
  • Mortgage lenders have restricted their risk appetite and are therefore lending at lower levels than in previous years which is also restricting the options for a number of people who are looking to raise capital.
  • Wanting the new finance over a different length of time to the remaining term of their existing mortgage.

At Caboodle we also have access to a wide range of remortgage plans which your adviser will be able to discuss with you if you feel this option may also be of interest.

Following some changes in regulation, Secured Loans are now commonly referred to as “second charge loans” or “second charge mortgages”. This terminology may be used when we speak to you about your requirements and in documents you receive as part of the process.

The secured loans process is simple, either complete the short online enquiry form and a Caboodle adviser will contact you, or call us at no obligation on 0800 151 2407 or 0121 308 9114.


Representative 9.2% APRC. Loans subject to status.

Representative example: Assumed borrowing of £20,000 over 120 months, with a borrowing rate of 7.1% per annum. There would be 120 monthly instalments of £250.95. Total amount payable is £30,114 comprised of; loan capital (£20,000); interest (£8,624); broker fee (£995); lender fee (£495). This would result in an overall cost for comparison of 9.2% APRC.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CONSOLIDATING DEBTS MAY INCREASE THE TERM AND TOTAL AMOUNT PAYABLE.

Your initial consultation is free and you are under no obligation to proceed with a mortgage we recommend. There will be a fee for mortgage advice. The exact fee will depend on your circumstances and may be reduced depending on the loan amount and any commission we receive from the lender. It is estimated that the fee will be £595, but it may range from £495 to 1% of the amount you borrow. The fee is only payable on completion and can normally be added to the mortgage. This will be discussed and agreed with you before you make an application. Please ask for a personalised illustration.

Secured loan rates from 3.95% APRC, although we have plans available up to 29.9% APRC which allow us to assist customers with the most severe credit problems. The overall cost for comparison is 9.2% APRC. For secured loans a broker fee up to 10% of the loan amount borrowed may be payable on successful completion. A lender fee may also apply. The actual APRC available will depend on your circumstances. All loans are subject to status. Please ask for a personalised illustration.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Caboodle Financial Services Ltd, registered in England at SQ2 House, 240b Lichfield Road, Four Oaks, Sutton Coldfield, West Midlands B74 2UD (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of Pink Home Loans, Pink Home loans is a trading style of Advance Mortgage Funding Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 305008) for mortgage and non-investment insurance advice.
The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2014 Caboodle Financial Services Ltd