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Secured Loan vs Second Mortgage

Superspur
Superspur Posts: 1 Newbie
in Loans
Hi, I would really appreciate some advice.

I took out a secured loan a few years ago and have recently checked my credit file and it appears on my report as a mortgage.

Is there a difference between the two products?

Many thanks for any help

Comments

  • iancrt
    iancrt Posts: 133 Forumite
    no.
    A 'Mortgage loan' is simply a loan secured against a single and specific property.
    CHALLENGES MAR'14:
    CHALLENGES 2014: £1-a-day#43 £84/£365; £3350k BY MAY     £2700/£3350; £1500 BY JULY £0/£1000
    EMERGENCY FUND £0/£2500; 2014 MFW #61 £0/£2500; CC £290/£2270
    2014 SUMMARY (POAYD 2014 #120 £3074/£12485 24.6%
         101 MONTHS... MORT: [STRIKE]£63,000[/STRIKE]     £66850 | LOANS: [STRIKE]£26,000[/STRIKE] £0 | CARDS: [STRIKE]£33,000[/STRIKE] £1980

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