Secured Loans

Financial stability through collateral-backed borrowing solutions

What is a Secured Loan?

A secured loan is a type of borrowing in which the borrower provides collateral, typically in the form of a valuable asset such as a property or a vehicle, to secure the loan. The collateral acts as a guarantee to the lender that the loan will be repaid.

If the borrower fails to make payments as agreed, the lender has the legal right to take ownership of the collateral to recover the outstanding debt.

Mortgage Products

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Unlock Financial Flexibility with Secured Loans: Lower Rates, Higher Possibilities.

Secured loans are commonly used for various purposes, including consolidating debts, financing home improvements, or covering major expenses.

Borrowers need to carefully consider their ability to meet the loan terms and understand the potential risk to their collateral when taking out a secured loan.

Here’s how they work…

1

Collateral

To obtain a secured loan, the borrower must offer a valuable asset as collateral. Common types include a home (in the case of a "homeowner loan" or "second mortgage"), a car (in the case of a "logbook loan"), or other valuable assest.

2

Loan Amount

The amount you can borrow through a secured loan is typically determined by the value of the collateral. Lenders will assess the value of the collateral and offer a loan amount based on a percentage of that value.

3

Interest Rates

Secured loans often feature lower interest rates, thanks to reduced lender risk through collateral, benefiting borrowers and offering more security for the lenders.

4

Repayment Terms

Secured loans can have longer repayment terms, sometimes spanning several years, making them suitable for larger expenses like home renovations, debt consolidation, or significant purchases.

5

Risk to Collateral

It's essential to understand that if you fail to make your loan payments as agreed, you could lose ownership of the collateral. The lender may repossess and sell the asset to recover the debt.

For any questions, just reach out!

At GoMortgage we provide expert advice on a range of products – so whether you need a secured loan, a mortgage, equity release, bridging finance or an insurance policy – you’ll always speak to a specialist in each area.

Contact Details:

Tel: 01253 935050

Email:admin@gomortage.co.uk

Address: GoMortgage, Unit 15 Marsh Mill Village, Thornton, FY5 4JZ.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

“To provide exceptional mortgage and protection services to clients across the UK, helping them achieve their dreams of homeownership while ensuring their financial well-being. We are committed to delivering outstanding customer service, personalized guidance, and innovative solutions. Through our expertise, professionalism, and dedication, we aim to be the go-to choice for individuals and professionals seeking reliable, trustworthy, and stress-free mortgage experiences. At GoMortgage, our mission is to empower clients, simplify the mortgage process, and build lasting relationships based on transparency, integrity, and exceptional results.”

Chris Days Mortgages Ltd trading as GoMortgage. Registered Office: 105 Garstang Road Preston, PR1 1LD. Registered in England, number 12240745. GoMortgage is a trading name of Chris Days Mortgages Limited which is an appointed representative of Progress F S Limited which are authorised and regulated by the financial conduct authority. Registered office: 105 Garstang Road, Preston, PR1 1LD. Registered in England, number 04217039