We Compare 100's of loans from leading lenders
When you apply for a secured loan, the lender will secure the loan against your property in the same way your mortgage provider does, as this reduces their risk. In return, you may benefit from better rates and terms compared to an unsecured loan, including larger loan amounts and longer repayment periods.
Whilst each lender has their own application process, they generally tend to be quite similar, below we answer some of the most common questions when applying for a secured loan.
We make the application process for a secured loan as easy and hassle-free as possible. There are two main ways you can get started:
Once you have completed the initial short form, you will then Complete a quick fact-finding section that only takes a couple of minutes to complete but allows us to provide tailored quotes.
On average, you can expect the secured loan application process to be completed in about two weeks. This typically a lot faster than it would take to remortgage, which can take anywhere up to 6 weeks+
Of course, some applications are more complex than others, so there are instances where it can take a little longer. On the other hand, we have processed and completed some applications in a matter of days, so it all comes down to the individual’s circumstances.
Lenders will usually request documents related to your identity and income, so you can expect to be asked for things like:
If you have any questions about the documents or type of information you’ll need to supply with your application, you can speak with a member of the Willows team at any time.
This is a standard part of the process, which helps the lender to understand how much equity you have in your property. The three types of valuations use are:
If you need more clarity, get in touch and we can give you more details about how the valuation process works, how long it takes and answer any other questions you may have.
Most people will not need to pay for a solicitor when applying for a secured loan. Whilst there are legal elements related to the use of property as security for the loan, lenders tend to use their own legal teams to manage this.
In very few instances, you may be asked to seek independent legal advice by the lender, for examples case where an applicant is over the age of 70.
Once you have completed the fact-find parts process, we can then verify your eligibility for a secured loan.
This will only take an hour, after which a member of the Willows team can search our panel of lenders to find the most suitable option for you.
There are occasions where we may need more information to ensure we match you with the best possible deal. Our advisors will let you know right away if this is a requirement.
We aim to get back to you within an hour of receiving your completed fact-find form and proof of income. A member of our team may then come back to you with a decision in principle, which will give you an indication of the terms being offered by the lender based on the information provided.
Once you’ve got your Decision in Principle, we’ll move on to submitting your full application to the lender. This will include providing thinks like proof of income, a property valuation, and any other bits to support the application
It’s often the case that the lender may have one or two extra questions, so keep any eye out for any messages from our team, as this will help prevent any unnecessary delays.
Once the application has been underwritten, the lender will issue a binding offer. Once you complete and sign this offer, funds are typically released within 24 hours. Increasingly, lenders are using e-signature technology, which has significantly sped up the process. We have seen the entire journey—from initial online application to funds being deposited into a client’s account—completed in as little as two days.
Getting a quote won’t affect your credit score
Lorem Ipsum es simplemente el texto de relleno de las imprentas y archivos de texto.Lorem Ipsum es simplemente el texto de relleno de las imprentas y archivos de texto.Lorem Ipsum es simplemente el texto de relleno de las imprentas y archivos de texto.
With Willows Finance, the application process is simple and straightforward and we’re always here to offer support and guidance.
To get started with your application, or to see if this is the right option for you, speak with a member of our team today by calling 01656 766 158.
If you have a question – we’d be happy to talk to you – simply call us…
(Mon-Fri 9am-8pm, Sat 10am-1pm)
At Willows Finance we ensure your personal information is kept secure and confidential.
PRIVACY OF YOUR INFORMATION
At Willows Finance Ltd, we appreciate that your privacy is extremely important to you. With this in mind, we have put in place a number of measures to ensure that any personal details we obtain from you as a result of visiting this website is processed and maintained in accordance with accepted principles of good information handling and also in accordance with the Data Protection Act 1988.
This statement provides you with details of the type of information we may hold about you, how we obtain and use information and how we protect your privacy.
Willows Finance Limited
Brocastle, Bridgend, CF35 5AS
Authorised and regulated by the Financial Conduct Authority
Firm Reference Number: 670052
Company Number: 6678545 (Registered in England and Wales)
This document outlines the services we provide. If you need clarification, please contact us at 01656 766158.
We offer first and second charge regulated mortgage contracts for business or personal use.
Other finance options may include:
Regulatory Status:
We offer an advised mortgage broking service and provide enough information for you to make an informed decision.
We are not independent financial advisers. Free debt advice is available from the Money Advice Service.
You can view our privacy policy at: https://willowsfinance.co.uk/privacy-cookie-policy/.
Lenders may also have their own privacy policies which will be provided to you.
We charge a broker fee upon loan completion. The average fee is approximately 5%, depending on your situation.
Fee details:
No refund is offered after completion. You may pay upfront or add the fee to your mortgage. Fees and commission will be detailed in your ESIS and Mortgage Agreement.
You will receive a Mortgage Agreement and an ESIS document detailing:
You may cancel your application anytime before completion without any charge. Mortgages cannot be cancelled after completion.
Missing payments can lead to charges, repossession, and negative impacts on your credit rating.
Consolidating debt may result in higher long-term interest. Securing debt against your home increases risk.
Your home may be repossessed if you do not keep up repayments on a mortgage or other loan secured on it.
If you wish to complain, contact us at:
Willows Finance Limited
Brocastle, Bridgend, CF35 5AS
Tel: 01656 766158
You may be able to refer your complaint to the Financial Ombudsman Service.
We are covered by the FSCS. You may be eligible for compensation of up to £85,000 per person per firm for mortgage advice and arranging.
More info: www.fscs.org.uk
After processing your application, you’ll receive a Mortgage Agreement and have a 7-day reflection period.
Contact us during this period with any questions. To proceed, sign and return the agreement.
Let us know what you're looking for today