Secured Loans or Second Charge Loans
A secured loan (or second mortgage) is a way of borrowing using a property (often a home) as security. Around 20 lenders offer secured loans in the UK & are often referred to as “specialist lenders”. They are able to offer flexible underwriting terms & can usually help those who have been turned down elsewhere.
Your home is at risk if you fail to make repayments on a loan secured on it.