Barclays Secured Loans
Barclays Secured Loan
about Barclays secured loans
A Barclays secured loan can be used for just about any purpose as long as its covered by the lenders terms. Barclay’s larger loans are commonly used for larger purposes; such as the purchasing of a new car, funding home improvements, consolidating outstanding debt, and lowering outgoings by spreading borrowing over a longer term.
Secured loans have second priority behind your main (or first charge) mortgage. They use the borrower’s home as security, so essentially you will have two mortgages on your home.
A Barclays secured loan could suit you if:
Requirements for a Barclays secured loan
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You must be 18 or older.
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You must be a UK homeowner with the permanent right to reside in the UK.
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You must have a household income of at least £8,000 a year.
Considerations before taking out a Barclays secured loan
As a Barclay’s secured loan is secured against your home, failure to keep up with repayments could result in the repossession of your property. We recommend that you weigh up all of your options before committing to a Barclays secured loan, and contact a mortgage broker who can give expert advice on whether a secured loan is affordable and suitable for you on the basis of your personal circumstances.
If you would like to find out more about a Barclays secured loan, or would like any assistance or advice as to whether a secured loan is the right decision for you, why not call us today on 0117 313 8872 for a FREE initial consultation.
About Barclays
Barclays was founded in 1690 in London, but the name Barclays only became associated with the bank in 1736, when James Barclay, the son-in-law of one of the original founders, became a partner in the business. Today, Barclays has branches across the world and offers a wide range of mortgages in partnership with Woolwich.
To compare top Barclays secured loan deals with other secured loan rates and find the best deals for you, call us today on 0117 313 8872.