Secured Loans

Secured Loans/Second Charge Mortgages

Secured loans are not a primary service offered by IMC, but we are able to put you in contact with brokers who can help you find the best, most affordable loan for your situation.

A secured loan allows you to borrow a larger sum of money with an asset such as your home, as security. Lenders feel more comfortable because when a borrower uses their assets as collateral, much of the financial responsibility and risk is alleviated from the lender. If the borrower defaults, the lender knows that the loan can be repaid through the sale of the asset it is secured against. A mortgage, by definition, is a type of secured loan, with your home acting as the collateral.


Why get a secured mortgage loan?

You are most likely to consider a secured loan if you were unable to take out a further advance from your current lender. Secured loans allow borrowers to use the equity they have in their home as collateral against another loan, giving you two mortgages on one home. This is often used as an alternative to remortgaging. By not remortgaging, you are able to keep a low rate mortgage and won’t have to pay any exit fees.

If you are looking to borrow a large sum of money without facing the drawbacks of remortgaging your home, a secured loan on top of your mortgage might be a good option for you. By borrowing against the equity you have in your home, you will gain access to a sum of money that your existing lender may not otherwise be willing to offer you.

There are a number of reasons which may cause you to opt for a second charge mortgage. These include:

  • Needing to borrow large sums of money (usually over £25,000)
  • To keep a low rate mortgage and avoid large exit fees by having to remortgage
  • Extending or refurbishing a property
  • Debt consolidation


Applying for a secured loan in the UK

With new regulations implemented, it has become much harder for people to be approved for a secured loan in the UK over the past year. However, if you don’t have a great credit history, secured loans will usually allow you to borrow more money than you would otherwise be able to with an unsecured loan. Plus, much like mortgages, secured loans can be repaid over a much longer period of time. Lenders are able to offer these superior rates because there is a guarantee against the loan, meaning that they won’t lose out.

If you wish to apply for a secured loan, you will need a credit history, a steady UK address (UK resident for at least 3 years) and a repayment plan that is realistic with your financial situation and requirements.

Your home or any other assets used as a guarantee for a secured loan may be repossessed if you do not keep up repayments.

Interested in finding out more information about secured loans? IMC offers a free consultation to explain all details and answer all your enquiries – contact us today.


Secured loans or second charge loans services are provided through our introductory agreement  with AJP Finance Ltd. and are regulated by the FCA.

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Gary Willsher was the man we dealt with, highly knowledgeable and professional. Helped us through every step of the way. Spoke to many mortgage advisors, however none compared Gary, we were so happy we had his guidance."

PhilR-328 , Apr 2021

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"Re-mortgage and ancillary advice
Another easy, painless mortgage renewal with all the help and good advice that I've come to expect from Andrew Jackson over the years that I've been his client. I really can't fault the service from Andrew or his Company IMC, they are all always professional and so very helpful. Having Andrew and his team advise and help me all these years has saved me time and money and I couldn't be more grateful - for someone as busy as I am their help is always invaluable"

GillianO-14 , Apr 2021

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"We would like recommend Andrew Francis of IMC Financial services, we have been working with Andrew for a number of years. He has helped arrange a number of financial products for my family over the years he is a very good financial advisor who is professional in his overall approach."

Liam Burke , Apr 2021

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"Strongly recommend IMC
I've had very helpful and incredibly friendly advice from Vilma at IMC. She has maintained contact with me over the course of a year now, researching a number of times as my circumstances have changed. She has taken the time to get to know me and what I need, and provided me with personalised and detailed information. She is also very kind and lovely to chat to! Would strongly recommend IMC from the service she has provided."

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