Personal Loan

Whatever the purpose – home renovations, holidays, a new car, investments, medical emergencies, debt consolidation… – secured personal loan offers a quick and simple way to borrow money against the value of your home. Having collateral to back up your borrowing could make the interest  payments lower than they would be on an unsecured loan, and it means that sums available for borrowing are higher.

How much can I borrow?

Almost anyone can apply for a secured personal loan, as long as they are over 18 and a UK homeowner. The maximum Loan-to-Value ratio (the loan expressed as a percentage of the property value) is 125% depending on personal circumstances. These include:

• Income
• Property value
• Previous credit-worthiness
• Period of mortgage payments
• Employment history

The borrower will receive their loan as a lump sum, ranging from £10,000 to £250,000, in return for monthly payments that cover the capital borrowed and the additional interest charged.

How much will I pay and for how long?

Whatever the purpose of the loan, our interest rates are calculated by considering the personal circumstances of each individual.

Repayment terms range from 3 to 30 years. So they can be long enough to make your repayments affordable, but short enough to let you pay the money back as quickly as you can. This way, you’ll strike a balance between affordability and minimising interest payments.

Which loan is right for me?

Relax Finance are master brokers. This means we have access to a the whole market and could find the best deal for you. Applying for a Relax Finance Personal Loan is quick and hassle-free. Simply click  Online Loan Application to find out how much you could borrow.

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Calculate your repayments and apply for your secured loan online now at: www.relaxfinance.com