Our secured loan calculator is easy to use and helps you get a quick response when enquiring on the expected amount for your secured loan monthly repayments.
A secured loan is an alternative option to a full remortgage when the client:
Our online secured loans calculator makes it quick and easy to provide an overview of the available options, however, it can be tricky to know exactly which details to enter to obtain an exact result.
All lenders outline their own unique lending criteria and quote interest rates based on various factors. In most cases, credit ratings are used as a basis for interest rates and additional charges.
In accordance with your credit score, use the following guideline rates when entering information into our secured loan calculator:
Please note that these are indicative rates only and should not be interpreted as an accurate secured loan quotation. Call 0116 464 5544 anytime for an obligation-free consultation and a more detailed discussion of the options available.
Along with fixed or variable rates of interest, additional secured loan fees almost always apply. An initial administration, application or arrangement fee may be payable at the time the homeowner loan is agreed which is typically from £250 to £1,000. Additional costs to consider include valuation fees and early repayment fees.
Comparing the market in full using an independent broker is the best way to avoid as many of these additional secured loan fees as possible. Fees vary significantly from one lender to the next, underlining the importance of comparing the market in its entirety.
A fixed rate secured loan will be charged at a rate of interest that remains unchanged during an agreed term, whereas variable interest rates can increase or decrease at any time. Variable interest rates usually fluctuate in response to shifting Bank of England Base Rates, or simply at the discretion of the lender.
In both instances, it is important to consider how much you will pay over the life of the homeowner loan, not just which offer appears most competitive at first.