Daily Star Loans offers a large and varied panel of lenders which cover the whole market from non-conforming loans through to prime loans. Depending on your circumstances you may be able to borrow up to 100% of the value of your home.

Actual loan and rate available will depend on your individual circumstances.
Typical 12.4% APR variable

Secured loans can be arranged for:

  • Your Principal place of residence
  • Commercial Property
  • Buy to let Property

What is a Secured Loan?

A secured loan is a type of financial debt in which the borrower pledges an asset, in this case their home, as collateral for the loan. This then becomes a secured debt owed to the lender (creditor) who gives the loan.

In the event the borrower does not meet their obligation to repay the debt, i.e. does not make the required repayments under the terms of the loan agreement, the lender can take possession of the asset used as collateral and may sell it in order to settle the debt by regaining the amount originally lent to the borrower.

How does it work?

The borrower initially receives an amount of money from the lender, which they pay back over an agreed period of time, usually in regular instalments, to the lender. This service is generally provided at a cost, referred to as interest on the debt.

Why a Secured Loan?

There are a number of reasons why a secured loan may be more appropriate than a remortgage, these may include:

  • Many clients have early repayment charges or might have incurred adverse credit since taking out their mortgage, this means capital raising by way of a remortgage may be more expensive than a secured loan.
  • You may only want to borrow funds over a shorter term than your main mortgage
  • Your main mortgage may benefit from a competitive interest rate which could be difficult to achieve with a remortgage; a secured loan would allow the mortgage, and its competitive rate, to remain in place.

There could also be a substantial up front cost saving in the setting up of a secured loan, for example:-

  • Valuation Fee – Daily Star Loans will pay for this on ALL secured loan applications
  • Higher Lending Charges – are NOT payable on secured loan applications
  • Solicitors Fees – are not payable in most cases
  • Speed – secured loans take an average of just 2-3 weeks to complete, meaning you can have your money sooner.