New for June 2024 Jubilee have a new lender for UK homeowners. You can now get a secured loan bad credit direct lender with the following terms:
- 7.21% capped rate, which never goes above 7.21% but goes down as base rates go down
- Loan to value of up to 90%
- Available to homeowners with a mortgage only
- No early repayment charges
- No lender, broker or advisor fees
- A free automated home valuation
- No valuation penalties for flats and other leasehold properties
- A decision in principle with a soft credit search that no one else can see
- Up to one payment holiday per year
- Flexible approach to previous credit difficulties
- Can be used to repay an existing secured loan or other charge
- Ideal for debt consolidation
- No upper age limit
- Easy online application
- Fast completions often in less than 10 working days
Please complete the form below for a fast decision in principle:
"*" indicates required fields
With this direct lender page, Jubilee does not offer brokering services. The person’s details are simply passed on to the direct lender so that you can deal with them directly.
You will be required to fill out a comprehensive loan application online with the lender. If their findings are favourable based on the soft credit search, they will do an automated home valuation without the need for a person to come to your home.
If you are self-employed, the lender will check your earnings with HMRC to ensure you have paid all the tax on the earnings you claim to have achieved.
Lying about your earnings will not work with this direct lender. Part of the application will involve you consenting to the lender that they can contact the HMRC for income verification.
For debt consolidation, you are expected to clear all your unsecured debts when the funds are released so you can easily afford the new secured loan. The lender could do a future soft search to ensure this process has been completed, and part of the loan agreement states they have a right to perform future soft searches on your files.
The homeowner debt consolidation loan rates are likely much lower than rates offered by credit cards, car finance, store cards, unsecured personal loans, overdrafts and catalogue credit, so getting the loan will likely have an immediate positive impact on your monthly outgoings.
In addition to that benefit, you will have one monthly payment just after your wages, keeping your finances simple.
Why is there such demand for a Secured Loan Bad Credit Direct Lender?
People are looking for a direct lender for their secured loan because they do not like brokers. Brokers often charge fees, ask a lot of questions, and nag people for lots of paperwork they may or may not be able to easily access.
Who is the best Secured Loan Direct Lender in 2024?
The best secured loan direct lender for 2024 is a private lender based in Hong Kong called Lift Loans.
If you don’t like brokers, Secured Loans For Bad Credit Direct Lenders Only may be your best option?
No, not necessarily. If you are no good at filling in online forms and completing a good, complete application, you may be much better off with the help of a homeowner loans broker.
Is there a Secured Loans Direct Lender with a fixed interest rate?
Yes, there are currently not only fixed-interest rate loans available but also capped-rate loans, where the interest rate can only go down but never go up. They are linked to the Bank of England base rate, the 3-month LIBOR rate, or the relevant part of the UK government bond yield curve. The rate structure is usually made clear to you at the start.
What is the drawback with Bad Credit Secured Loans Direct Lender as there are no fees?
The drawback is you could make a mess of your own application, and a broker may help you get your application approved the first time. Sometimes using a broker is very wise.
Do Secured Loans Direct Lenders Only have higher rates than broker-only homeowner lenders?
No, not necessarily. The loan product you choose will depend on your credit history and loan-to-value ratio. Some lenders are fussy about property types, too, but some are happy with non-standard construction properties.
Are Secured Loans Bad Credit Direct Lender still available in the UK in 2024?
Yes, in fact, the number of lenders offering loans directly to individuals who don’t want to use a broker is increasing significantly. Lenders also have more confidence in automated home valuations, which saves a lot of time and money in the application process.
Are Direct Lender Secured Loans applications easy to mess up without the help of a secured loans broker?
Yes, they can; this is why some people might be much better off using a secured loan broker, who can help them organise and present their applications. Brokers who are very well-connected with lenders can sometimes help the lender make a positive decision. If the underwriting teams know the broker well, they may be willing to “wave through” the application, as they trust the broker’s honesty and professionalism.
It’s likely that the broker has already spent a lot of time speaking to the homeowner, and they will have excellent insight into whether they are likely to default or not.
How do I find Secured Loans For Bad Credit Direct Lenders in 2024?
Jubilee has all the direct lenders for secured loans, including some not on the comparison sites and ones that do not feature in the standard broker lending panel.
Can I avoid a hefty broker fee with Secured Loans Direct Lenders with an online application?
Maybe, but you can also make a mess of the application, as you might not understand the lender’s policies on acceptable proofs of income and how overtime and other additional income are credited. You may end up with less money if you don’t get the help of a broker or other advisor.
Are Secured Loans Direct the best option for heavy adverse homeowner loans?
No, for some people with a heavy adverse credit history, using a broker who knows the loan underwriters well could be a much better idea and cheaper overall, even after the broker’s fees.
Is a First Direct Secured Loan ideal for a lower-value flat or house?
Yes, a first direct secured loan could be an excellent option for you if you have a low-value home or studio flat.
Do Direct Secured Loan Lenders actually exist?
Yes, there are currently 8 excellent lenders with good terms, and potentially more are coming to market with new products. Some will not feature on the leading comparison websites as they do not want to pay fees to third parties.
Can a secured loan broker get me a better deal than Secured Loans UK Direct Lenders?
Yes, even after their fees are added on, a good broker may be able to get you a formal offer faster and ensure you don’t put the wrong thing on the application so you don’t burn your opportunity with that lender.
Why are there so many people looking for Secured Loans For Bad Credit Instant Decision Direct Lender? Are brokers very expensive?
People do not like brokers because they ask a lot of questions. But they don’t ask many questions because they are difficult people, they ask a lot of questions because they need to place you with a lender that fits your circumstances.
A good broker will place you with a lender that he is highly confident will lend you the money.
People don’t like brokers because they charge fees, which are often added to the loan. But the reality is someone has to do all the work that the broker does. People who think they are smart and are looking for a lender think they can get the lender to do all this work for free.
But there is no such thing as getting something for nothing, and at least the broker you pay the fee to is on your side and wants to get you a good deal.
Are Secured Loans For Bad Credit Direct Lender easier to get than loans via homeowner loan brokers?
Probably not, no. If you mess up your application to a direct 2nd charge lender, you are disadvantaged. A good second mortgage broker will know the lenders he deals with well. He might even have some influence over the underwriting department, where his applications get waved through as the underwriting team trusts him to only place people who can pay.
