Occasionally it is not cost effective to completely re-mortgage your home, due to high redemption penalties, a competitive current mortgage rate, or you need an extremely quick injection of cash and cannot wait the length of time required to arrange a full re-mortgage.
At Sheafmoor we can arrange secured loans for almost any purpose, the most common reasons are:
You need to release the equity from your home but your current mortgage has very high redemption penalties which would defeat the object of arranging a re-mortgage to save money, secured loans can be arranged on top of your current mortgage and then incorporated back into your mortgage when your redemption penalties end.
You need to raise money quickly, a secured loan can be arranged in as little as a week and a half, whereas re-mortgages can take up to three months.
Even if you only have a little equity in your home you may still be able to borrow up to 100% of the value of your home.
Contact us to find out more.
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