Third Charge Loans


If you want a Third Charge Loans please fill in this form

What is the criteria for Third Charge Loans?


  • You must be a homeowner, either solely or jointly with someone else, aged between 21 - 65
  • You should also be earning at least £10,000 per year with salary paid into your bank account
  • Some adverse credit and even small arrears are allowed
  • It is not always necessary to put a full charge on the property

Frequently Asked Questions


What does a Secured Loan cost?    

The rate of the loan will depend on your circumstances (loan size, LTV, income and credit score). A broker fee is also charged to cover valuation and legal expenses and it is usually 7-10% of the loan (lower for larger loans). This fee is usually added to the loan so not payable up front

Will I be required to put a charge on my property?    

In almost all cases yes (the exception is some smaller loans of less than £10,000)

Can I use a Secured Loan to consolidate other debts?    

Yes. This is one of the best uses of a Secured Loan. You can pay off credit card and other expensive debts and consolidate into one monthly payment at a lower rate

If I have bad credit, can I still get a Secured Loans?    

Yes, you can as long as you have sufficient equity in your property and sufficient income to make the repayments. Taking a Secured Loan and maintaining repayments can help improve your credit score.

Can I repay early?    

Yes. Most lenders allow you repay early by giving one month’s notice and paying one month’s payment as a penalty

Is a Secured Loan cheaper than a mortgage?    

This depends on your circumstances. A mortgage or re-mortgage may be the better option for you but a qualified mortgage adviser can advise you better on this.

Will the interest rate be fixed?    

Typically it will be variable, but you can get options to fix for 3 or 5 years.

If I default on the loan, might I lose my house?    

Yes, this is possible. We recommend you think very carefully before securing any debt on your property.

I have a Buy To Let property, can I still get a Secured Loan on that?    

Yes. There are several lenders who will so a second charge secured loan on a BTL property.

The Lender will also consider clients:

  • with restricted or zero equity
  • in the armed forces
  • who are self employed (6 months' personal and business bank statements or audited accounts required)
  • who have maintained a Debt management plan for 12+ months


The major restrictions that won't be accepted are clients:

  • been declared bankrupt or are in an IVA
  • who are Contract workers or paid by cash/cheque
  • who are retired/unemployed
  • who do not live at the address where the loan is to be secured

We know that the process of getting a Secured Loan can seem complicated but rest assured that our team of experts are ready to guide you through the process to make it as simple as possible.To make an enquiry about the rates that would be available to you, please ether call us on 01494 410 125 or complete the form opposite and we will contact you as soon as possible to discuss your requirements.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. 

What is needed to apply

Applying for a Third Charge Secured Loan is very easy. Below are listed the things you need in order to apply.

  • Eligibility CriteriaYou must be a home owner and be earning sufficient income to afford the loan. How much you can get and at what rate then depends on your credit score.
  • Documents RequiredInitially it is just an online application form but once we know the specific lender best suited to you, you will need to complete their application form and show proof of ID and income.
  • Additional CommentsThe process take 1-2 weeks but you will be guided through it by an expert from start to finish.

The market for Third Charge Secured Loans is not large but we do have specialist lenders here that can help. All it takes is one phone call and we can assess if you are eligible and then transfer you live to the lender for a decision while on the phone.

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01494 410 125

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