What is a secured loan?
This is a loan that's secured on your property, which, if you already have a mortgage is also known as a second charge. A secured loan means that if you ever fail to maintain your repayments, the lender can repossess your home to recover the money owed. At EasyAs123 we consider this very much the last resort. We would only do this once all other options have been exhausted.
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How much could I borrow?
You could borrow any amount between £1,000 and £100,000 in £500 increments.
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What fees will I have to pay?
For a loan application, loan set-up, valuation and legal expenses you won't pay any fees at all. If we have to make amendments to your loan, you may incur some specific charges.
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How long will it take to process my loan?
That depends of course on how much you wish to borrow and what period you wish to repay it over. We will tailor your loan with you to ensure your repayments suit your budget. We do not encourage people to borrow more than they can comfortably afford to repay.
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What if I need to borrow more money?
If at any time you would like to borrow more money from EasyAs123, contact our Further Advance team - they will try to help you in any way they can.
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What happens if I move house?
In almost all cases, moving home means you simply move the loan with you. All you need to do is contact our Customer Care team as soon as possible and they'll make all the arrangements for you. We'll also help you to make sure your new monthly outgoings aren't a problem for you. If you're moving to a lower value property we may advise you to settle some, or all, of your outstanding loan balance from the sale of your property.
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What happens if I repay my loan early?
You're welcome to settle your loan in full before the end of the loan term. We will, however, charge an early repayment fee. Your loan consultant will talk to you about this as the cost will vary according to the size and duration of your loan.
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What happens if I fall behind with my repayments?
If you have difficulty making repayments, or think that you may encounter some difficulty in the near future, get in touch and we'll do all we can to help. There are a number of ways we can assist, but only if you tell us. In the worse case, because these are secured loans, we could repossess your home, but this is certainly not something we'd ever want to do.
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