We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Secured Loan help request!

Sarah15_2
Sarah15_2 Posts: 4 Newbie
in Loans
Hiya,

Does anyone know how long you need to have had your mortgage before you can get a secured loan? :-/

Cheers in advance to anyone who can help x

Comments

  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    I think the amount by which the value of your house exceeds the amount of the outstanding mortgage is the key factor rather than how long you have had the mortgage.

    Basically the term secured mortgage is a bit misleading. It makes the building society more secure and you less secure. Not a lot of people know that.
    Your house is at risk with a secure loan.
    ...............................I have put my clock back....... Kcolc ym
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture