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What is a Personal Secured Loan?.
This is a loan to a single person or couple that is secured against their home. It is often called a "second charge". The lender will advance money which they secure against the home BEHIND the normal mortgage lender (who has what is know as a "first charge").
The loan does not have to be for the same term as the normal mortgage, so it can be structured to suit the individual requirements, and it can be for virtually any purpose, including paying off more expensive existing debts and loans (including credit cards), home improvement purposes, purchasing cars/boats, and funding for school fees or holidays, etc.
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Any Purpose Loan