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Why a secured loan:

Welcome to Happy Brokers
21 April 2021

  • Current mortgage company not willing to lend
  • Cannot remortgage due to penalties imposed from current product
  • They may not want to move from their high-street lender if they have had some adverse credit
  • They need a fast completion. On average a loan is turned around in 2-3 weeks
  • Income multiples on a re-mortgage do not fit - different calculations are used with some secured loan lenders
  • Mortgage product has ended and your customer is better to remain on the lenders SVR than remortgaging at this point.
  • Only 1 month's interest penalty and loan can be kept for any length of time.