Caboodle Finance Loans

Loans

Secured Loans

At Caboodle your finance needs are our priority

  • No obligation enquiry
  • Caboodle have access to specialist packagers who can search from a comprehensive panel of lenders across the market.
  • Experienced advisers to guide you through the process step-by-step
  • No upfront fees.

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
    mainstream mortgage lenders.
  • Some 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.

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.

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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 our mortgage advice which will range from £495 to £1,495. The level of fee will be determined by the amount of work we expect to undertake in arranging your mortgage and we will discuss and agree this with you before you make an application. 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 and Wales at Mere Green House, 46-48 Mere Green Road, Sutton Coldfield, West Midlands B75 5BT (number 08044670).
Caboodle Financial Services Ltd is an appointed representative of PRIMIS Mortgage Network (PRIMIS), a trading name of Advance Mortgage Funding Ltd which is authorised and regulated by the Financial Conduct Authority. PRIMIS is only responsible for the service and quality of advice provided to you in relation to mortgages, protection insurance and general insurance products. Any other product or service offered by Caboodle Financial Services Ltd may not be the responsibility of PRIMIS and may also not be subject to regulation by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some forms of Buy to Let.

© 2023 Caboodle Financial Services Ltd