Secured loan

callistris

It's not normal I ask here for help, but today I am.


I'm looking for a secured loan, to secure on my property for 15 - 20,000 if this amount is possible?
The loan is for some home improvements I wish to make for a conservatory and internal restructuring of my property.

I also have about £5000 in unsecured debt, which I wish to clear as well if this is possible?

I own my home outright, no mortgage. I earn just under £25,000 a year. I'm single. Have no bad markers on my credit file, have been in trouble years ago with credit, but am careful now with credit.

I have looked around at secured loans, but all seem to ask about mortgage as if you can't get a secured loan if you don't have a mortgage, so can anyone point me in the direction where I should be looking please?

If it's of interest as to why I have no mortgage on my property, it's because 15 years ago I was left a fairly healthy sum of money (back then) from a relative who passed away and I used my money then to buy my house.

DCFC79

Im sure a similar question was asked on here recently, yes here you go

jason1231972

Sorry, don't know much about mortgages, secured loans and so on, but, can you just not raise a conventional mortgage on the property, via a bank or building society? The fact that you have never had a mortgage is no barrier (all things being equal re: income/expenditure/credit history, etc.) to borrowing money in this way.

I am in the process of raising a standard FTB mortgage on a house that I own, but currently has no mortgage (and I've never had one either), as I've inherited a house that needs major modernisation. This is no issue to my prospective lender, and I've not given it a second thought.

(Though, as said, I don't know that much, and there may be legal/policy particulars of which I'm unaware).