No Equity Required
No equity required refers to personal secured loans for homeowners.
What is Equity?
Equity is the difference between the value of your property and the amount of credit you have secured against it. So, for example
if you have a mortgage of £50,000 and your home is worth £100,000, you have £50,000 equity or 50% equity. Most home owners do not own
their home outright but most homeowners have a mortgage that is less than the value of their home so most home owners will have equity.
Don't Have Equity?
If however, you have recently purchased your property or you already have a mortgage and a secured loan that equals the property
value, you may not have equity. This is not a problem because no equity is required by some lenders. For example, some secured loans lenders lend up to 125% equity meaning that if
you have a property worth £100,000 and a mortgage of £100,000 or a mortgage of £80,000 and a secured loan of £20,000 and you have no
equity, some lenders could approve a further £25,000 borrowing on a secured personal loan.
Apply Online Now
We can give you access to secured personal loans companies who have panels of lenders that cover a range range of secured
personal loans lenders that are available in the UK. Among these lenders will be secured personal loans lenders who offer over 100%
equity loans to people with no equity.
UK secured loans lenders can approve secured loans with no equity required for almost any purpose but different lenders or companies will offer different rates
and repayment costs. To find the best one for you, apply online here for free quotes. You can compare low rate quotes and select the best,
cheap, fast secured personal loan for you. There is no obligation to proceed with any quote.
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