We found WTBSN after landing in a really tricky situation. We were out of term on our current mortgage and our existing broker had exhausted all options to re-mortgage due to the complex nature of our holiday let property (Grade II listed, timber frame construction and above commercial). Working under considerable time pressure due to the financial penalties being imposed by the existing lender, Brian was relentless in his search for a solution that would allow us to refinance a property that was on face value mortgageable. Thankfully, he didn’t give up and nine months later, we completed on the re-finance. We feel so fortunate to have found WTBSN and would like to thank Brian and the team sincerely for going the extra mile. We couldn’t have done it without you!
Secured Loans
£10k to £1 million
Getting a secured loan doesn’t have to be difficult. We’re here to help you raise funds, whether for renovations, an extension, or even debt consolidation.
- Low rates available
- Instant decision
- Quick and easy application
- Getting a quote won't impact your credit score*
- Secure SSL Encryption
- Low rates available
- Instant decision
- Quick and easy application
- Getting a quote won't impact your credit score*
When The Bank Says No is working closely with leading providers...
Our Process really is that simple...
Fill out our online application & one of our Secured Loans Expert will contact you to discuss it further.
Chat with an advisor & together we will find the best quote for you!
Take your time to make a decision, choose your deal & let one of our experts handle all the paperwork for you.
We can help you work towards your dream home, today
Finding The Best Secured Loan Deal For You
If you want to make big changes to your home or financial situation, raising finance can be tricky. As a property owner and mortgage holder, a Secured Loans can be a good way to accelerate your refurbishment plans, fund an extension, or consolidate your debt.
Our team of professional mortgage brokers is trusted all over the UK by clients who didn’t want to put their dreams on hold. With us, you can find the additional financial flexibility you need – no matter your circumstances, no matter the odds!
What Our customers say about us
Our Customers rank us 4.6 out of 5
We feel so fortunate to have found WTBSN
Rachel Reeves
Simply the best
I will never use another mortgage broker in all my time In property, these guys are the best at communication, customer service and keeping you informed. They are a level above every other broker I’ve come across and they actually get things done.
Emma, Samantha & Ashley have been fantastic in assisting me with 2 mortgages now and they’re superb at what they do. I wouldn’t hesitate to reccommend them to anybody out there who needs a mortgage sorting.
John Burton
I have been dealing with ben
I have been dealing with Ben @ When The Bank Says No. He has been great!! Professional, kept us up to date the whole way and made the entire process so simple. I would most definitely use him again and have already passed his details on to a family member. Thank you for all your help.
Elise
Thank you for your amazing support
Thank you for your amazing support and service during a really difficult time in my life. 5* is just not enough to demonstrate the level of support received. These guys go above and beyond. A personal service, with kindness and compassion. I highly recommend. If you’re struggling with your mortgage, then have a chat to this team. I cannot thank them enough for everything they have done.
Nabila Fowles-Gutierrez
Frequently Asked Questions
Am I eligible for a Secured Loan?
A secured loan is typically taken out against property – that’s why it’s known as a secured loan. As a result, you need to be a homeowner to qualify for one with an existing mortgage in place.
The reason for this is that the home will stand as security for the amount borrowed should you struggle to keep up with payments. Depending on the lender in question, you may also need to meet certain criteria when it comes to your credit score and affordability, but this varies.
Even if you have a low credit score, an adverse financial history, or non-standard sources of income, there will be specialist lenders out there who will consider you. Talk to us today and we’ll help you find them!
Can I take out a Secured Loan with defaults, county court judgements, IVA/DMP, bankruptcy, or late payments in my credit history?
Yes, with the right approach, it’s definitely possible to take out a loan in these circumstances. Adverse credit won’t be a dealbreaker for all lenders, and there is a number out there who don’t use a credit scoring system.
Whether you have a low credit score, have previously been in an IVA/DMP, have been made bankrupt and are now discharged, or have a number of defaults, CCJs, and missed payments, we can help. Contact us today to start raising your funds!
What can I use a Secured Loan for?
secured loan can typically be used for any legal purpose, making it a popular option for those who want to escape the restrictions set by many mortgage providers and be more financially flexible in the future. Many people choose to take out a secured loan to consolidate debt, conduct home improvements, or to make large payments like higher education fees.
Is a secured loan good for debt consolidation?
A secured loan can be a suitable method of consolidating debt, and this is why many people choose to take one out. Often, doing so means paying less interest overall compared to having lots of smaller loans or credit card bills.
However, it’s important to think carefully before moving forwards, as consolidating unsecured loans into a single secured loan will put your property at risk. For help working out whether or not a secured loan is a good option for you, get in touch with a member of our friendly team.
How much could I borrow under a Secured Loan?
Can I take out a Secured Loan if affordability might be an issue?
Lenders offering secured loans tend to be more flexible when it comes to affordability than mortgage lenders. The income multiples they use may be higher, meaning you can potentially borrow extra finance. It’s also more likely that multiple streams of income will be considered in the affordability calculations (benefits, pensions, bonuses/commission/overtime, zero-hour contracts, contractor income), maximising the amount you can borrow.
Can I raise a secured loan if I only have a small amount of equity?
Typically, secured loans are taken out against the equity you have in your home. As this is a loan taken out alongside an existing one, you can’t usually borrow against the full market value.
If you’re looking to take out a secured loan but don’t know where to start and don’t know how much you can expect to borrow When the Bank Says No can help. Our team of specialist mortgage brokers have years of experience helping our clients raise the funds they need. Talk to us today to find out how we can help!
Why get a Secured Loan when I could just remortgage instead?
Can I apply for a Secured Loan if I'm retired or on a benefits-only income?
Yes! There are many more options out there than the typical high street banks. Specialist lenders will often be more flexible with their terms, even allowing you to borrow additional funds using solely benefit income. There are also options out there for older borrowers; many specialist lenders won’t restrict a maximum age at the end of the loan term and will allow pension income to be used in affordability calculations. They just want to be assured that you’ll be able to meet the mortgage repayments.
I'm tied into my current mortgage deal and they have refused additional borrowing. Can I take out a Secured Loan
Yes, secured loans are a popular way for those who are tied into mortgage deals to access additional funds. You will usually need to get the consent of your current lender (but not always!). The reason for this is that the secured loan is a secured loan on your title deed.
At the end of your tie-in period, you can then look to remortgage with a better deal, and repay this if it works out more cost-effective to do so. If you’re still not sure, feel free to call us for a chat. We’ll explain everything you need to know.
What type of property can I use a Secured Loan mortgage for?
A secured loan can be taken out on any property you own, but it doesn’t have to be your main home. Of course, it’s common for secured loans of this nature to be taken out on a main residence, but you can also raise these funds for a Buy to Let property, a second home, or even a semi-commercial property.
If you’re not sure whether the property you want to raise funds for is eligible, don’t hesitate to give us a call. We’ll explain all the ins and outs of secured loans so you can proceed with confidence.
Useful Links
How We Help
Contact Us
- 01615 038 603
- hello@whenthebanksaysno.co.uk
-
Oak House,
Sutton Quays Business Park,
Beechwood,
Sutton Weaver,
Runcorn,
WA7 3EH
Other Links
Legal Information
When The Bank Says No is a trading name of Alder Rose Mortgages Limited whome are directly authorised and regulated by the Financial Conduct Authority under FCA No. 923776.
Registered office address: Oak House, Sutton Quays Business Park, Beechwood, Sutton Weaver, Runcorn WA7 3EH. This site is intended for UK customers only. Company Registrations no, England and Wales 11443964.
The Financial Conduct Authority does not regulate some forms of buy to let mortgages.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.
We are a broker not a lender.
*Please note: Submitting your details through this form will not affect your credit score, however a hard check on your credit history may be done before you finalise taking out a loan.
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