West One Secured Loans

West One Loans is a provider of lending services, which is registered and authorised with the Financial Conduct Authority. It provides specialist loans such as second charge mortgages, bridging loans and development finance, all through brokers and other intermediaries.

Yes. Borrowers are able to take out secured loans, known as second charge mortgages, through West One via a broker that is authorised to work with West One Loans. These loans are secured against the value of your property and you therefore risk losing your home if you don’t keep up with your repayment schedule.

West One Loans secured loans can be used for any purpose, with a few limitations. Borrowers often take out secured loans in order to pay for large purchases or to fund expensive projects, such as a wedding or a garden re-landscape. You are also able to use a secured loan to consolidate your existing debt, although this comes with the caveat that you may end up repaying more in total if the term of the debts are extended.

The amount of money West One Loans will be willing to lend you will depend on to what extent you meet the lending criteria. If you require a large sum of money over a long period of time, a secured loan provider may be able to meet your needs, but you will need to pass credit checks and affordability tests and you may also need to have your home valued.

Second charge mortgage lenders will often have a maximum loan-to-value stated on their site, which is the limit for the percentage of the value of your home that your existing mortgage and your second charge mortgage can total.

Yes. Our comparison tables for secured loans direct our users to a popular secured loan broker called Fluent. Using brokers to help arrange and apply for secured loans is often useful, as in many cases lenders will not deal with borrowers directly, although this is not always the case.

It is possible that a secured loan provider could recoup the value of your loan by forcing the sale of your home if you are unable to pay it off yourself. You can also be charged late payment fees for missing payments, which will damage your credit record.

If you find yourself in financial difficulties after taking out a secured loan, you’ll need to contact your lender before you miss a payment in order to avoid the repercussions. Your lender may be able to help you to meet your obligations by changing your repayment schedule to better meet your limitations.

You may be able to secure a loan offer from West One Loans as it does lend against rental property in some circumstances, although you will need to meet other criteria.