We are proud of our reputation in financial services – 100%* of our customers would recommend us to their friends, family and work colleagues. This is because we know a thing or two about arranging fast secured loans, even if you have a bad credit history. We also understand what our customers want – the cheapest loans available according to their circumstances, fantastic service and no nasty surprises in the future.
We have a massive range of personal loan products available that can allow you to borrow on terms that suit you. These include interest-only loans, capital repayment loans and fixed-rate loans. Loan terms are between 3 and 25 years.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
If you are looking to borrow a large sum of money, we recommend that you start by looking at the possibility of a further advance from your existing lender or a complete remortgage.
This method would usually be cheaper, unless your circumstances dictate otherwise. Examples could be one of the following: -
Your mortgage has a substantial penalty if settled early
If you have a fixed rate or discounted rate mortgage, check the amount the lender will charge you for paying the mortgage early.
Your mortgage is currently interest-only
Many first mortgage lenders either have rigorous criteria in place or no longer offer interest-only mortgages. By remortgaging, you only option could be a mortgage on a capital repayment basis.
You need the money quickly
Generally, a secured loan is usually available much quicker than a remortgage or further advance purely due to the process involved. With a secured loan the money can be available in less than 14 days from the initial application.
Your existing mortgage has an unbeatable interest rate
If you are lucky enough to have taken out your mortgage before 2009 when lenders were offering ridiculously cheap mortgages, you may have an interest rate that is just to good to lose. If you approach your existing lender for more money, you may have to change the interest rate on all your borrowing.
You find it difficult to prove your income if you are self-employed
Secured loan lenders tend to be more relaxed regarding income proof and are more flexible when it comes to income multiples and affordability.
You have had problems with credit payments
Most secured loan lenders will ignore credit problems that occurred over a year ago, as their lending criteria tend to be more flexible. Many mortgage lenders would look at both your credit score and credit file, and you may not pass if you've had credit problems in the past.
Ultimately, we cannot advise you whether a secured loan is better or worse than a remortgage or further advance. The advice will depend on your own unique personal circumstances. You should always consider the pros and cons of each of these types of lending before committing yourself, and we recommend you obtain independent, professional advice. If you need advice regarding a secured loan, we are here to help.
* from all respondents to our customer feedback surveys in 2019.
Representative 6.3% APRC VariableThis means at least 51% of our customers receive this rate or lower. Rates from 3.9% APRC Variable. We also have Secured Loan plans with interest rates up to 34.9% APRC Variable allowing us to help customers even with the most severe credit problems. A broker fee of up to 7% may be charged, up to a maximum fee of £2,975. On loan applications we receive a commission fee from the lender on completion, and we estimate this will be 2% of the loan advanced. This commission is separate from our broker fee and is an additional fee we receive. We recommend all customers obtain independent legal advice before signing any documentation. We are a broker, not a lender. Loans are secured on your homeIf you are thinking of consolidating existing borrowing, you should be aware that if you are extending the term of the debt, you may be increasing the total amount you repay. For help, go to www.moneyadviceservice.org.uk
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
We recommend all customers receive Independent Legal Advice before signing any documents.
All calls are recorded for training and compliance purposes. Imagine Loans is a trading style of Specialist Financial Services Limited. Registered in England and Wales, No. 05309450. Registered office is 119 The Hub, 300 Kensal Road, London, W10 5BE. Specialist Financial Services Limited is authorised and regulated by the Financial Conduct Authority, FRN 676853. Imagine Loans and the Imagine Loans logo are registered trademarks. The use of these trademarks is strictly restricted to our approved suppliers only. Any infringement of this will be vigorously pursued. Reproduction of this website in whole or in part without permission is prohibited. We are a broker, not a lender.
Specialist Financial Services Limited ©