Shawbrook secured loan rates fall

Shawbrook secured loan rates have reduced for many personal applicants in what is a very competitive market place. For instance, the Shawbrook Bank Plus plan has seen a 2% reduction in the interest rate for clients who have a high credit score and a Loan to Valuation (LTV) of between 61% to 75%. As a result, a client who may previously have been charged an interest rate of APR 10.9% may now only pay APR 8.9%. Minimum loan £5,000 up to maximum £75,000. Repayment term 3 to 25 years. Furthermore, the maximum advance on the Shawbrook Bank Three plan has been increased from £15,000 to £25,000 with a minimum advance of £3,000. This plan is not suitable for people with bad credit. Maximum LTV 85%. Repayment term 3 to 25 years. Headline interest rate APR 17.9%. The Shawbrook Bank One plan is suitable for people with bad credit. Minimum loan £5,000 up to a maximum of £50,000. Maximum LTV 75%. Repayment term of 3 to 25 years. Headline interest rate APR 11.9%. The Shawbrook Bank Two plan is suitable for people with bad credit. Minimum loan £5,000 up to a maximum of £50,000. Maximum LTV 70%. Repayment term of 3 to 25 years. Headline interest rate APR 12.9%. The Shawbrook Bank Platinum plan is not suitable for people with bad credit. Minimum loan £20,000 up to a maximum of £200,000. Maximum LTV 70%. Repayment term of 3 to 25 years. Headline interest rate APR 6.9%. Presently, this maximum advance of £200,000 is the highest in the market place. As you can see these Shawbrook secured loan rates are particularly competitive in the current market. Residential mortgage lenders are reluctant to increase their exposure and are not looking as favorably on requests for further advances as they were before the credit crunch. Furthermore, customers who have interest only mortgages are coming under closely scrutiny with their lender. Personal secured loans make an excellent alternative to arranging a further advance with your mortgage lender as you will not need to disturb your existing mortgage package. The secured loans market continues to expand here in the UK with the amount advanced between January and October 2012 already significantly exceeding the figure for the whole of 2011. Currently, if you approach your mortgage lender for a further advance or one of the high street banks for a secured loan it can take up to a couple of weeks to get a decision. You will be pleased to hear that Choice Loans have an extensive panel of secured lenders who can often provide a decision within 48 hours. The application process is simple being done online here but initially you can telephone Choice Loans on 0845 1260350 to discuss your requirements.