Brilliant Loans Explained
Also known as second charges, secured loans have numerous benefits over remortgages and unsecured finance. Furthermore, borrowers are now afforded the same protections from the regulator as they would receive in the mortgage market.
By using a secured loan you can allow a borrower to benefit from an existing low interest rate on a mortgage. Paying a marginally higher rate on a smaller advance can be cheaper than paying an average rate across the whole sum. This is just one example of the benefits that secured loans can bring for your clients.
Lenders have also brought secured loans in line with the first mortgage charge process following the recent regulatory changes so brokers and clients will be more familiar with the process and the product options should be more directly comparable. Furthermore, and a point that cannot be stressed enough, secured loan rates are much lower than you may expect, so our fees! Get in touch today and see how we can help you and your clients.