Central Trust

With more than 30 years' experience, Central Trust is one of the country's longest-running secured loan and mortgage providers. Part of the Norfolk Capital Group and regulated by the Financial Conduct Authority (FCA), Central Trust could help you to borrow £3,000 to £250,000 secured against your home with a repayment period of three to 25 years. Central Trust has been providing secured loans since 1988.

With more than 30 years' experience, Central Trust is one of the country's longest-running secured loan and mortgage providers. Part of the Norfolk Capital Group and regulated by the Financial Conduct Authority (FCA), Central Trust could help you to borrow £3,000 to £250,000 secured against your home with a repayment period of three to 25 years. Central Trust has been providing secured loans since 1988.

With Central Trust, you can borrow between £3,000 and £250,000, although the amount you can borrow will vary depending on your credit score, affordability and the loan repayment period. You can spread repayments over three to 25 years but again, interest rates will differ according to the loan term and the amount borrowed.

Monthly repayments are fixed, meaning that customers pay the same amount each month. This may help people to budget effectively, plan their finances and schedule repayments confidently. But if you do want to repay your loan early, you can, with no extra charge. A fee of £999 is paid to Central Trust for arranging your loan. As Central Trust is a direct lender and not a brokerage, it will not charge any additional broker fees or hidden costs. Central Trust will consider homeowners who have a poor or bad credit rating but it could affect the potential loan amount. Factors such as how long ago the bad credit was accrued and the type of bad credit are taken into account when considering an application.

Central Trust promises to use its vast experience in secured personal loans and mortgages to give customers a positive and straightforward experience. You can expect to be contacted by an advisor who will help go through your application. Customers will interact with named contacts, who will provide regular interactions throughout the whole process. As well as this personal service, customers of Central Trust can manage their borrowing, loan repayment or any repayment difficulties through a 24/7 online account.

A homeowner loan is a type of secured loan and can also be referred to as a second charge mortgage. It allows you to borrow money while using your home as security. It often means people can unlock a better interest rate than they could with an unsecured loan. A secured loan could increase your chances of borrowing money if you have a poor or bad credit history as lenders may have more confidence in you as a borrower.

Central Trust offers a maximum 75% loan to value rate. This means that you may be able to borrow up to 75% of your house value, minus your first mortgage, if applicable. So, for example, if your home is worth £100,000 and you have £50,000 remaining on your first mortgage, you could potentially borrow up to £25,000 from Central Trust.

To be eligible to apply for a Central Trust homeowner loan, you need to be a UK homeowner or mortgage holder. Only homeowners can be considered for loans - not tenants. For secured loans involving joint ownership, both parties must apply for the loan together - one party cannot act independently. As with any loan, customers should be sure they can meet any repayment terms and schedules before applying. It is important to remember that while using your home as security can help you borrow more money, your home can be repossessed if you do not repay the loan.

If you meet the above criteria, you can head to Central Trust's website to fill in the simple online application form. You will be asked to supply the following information:

• The amount of money you would like to borrow.
• The amount remaining on your mortgage if you still have one.
• An idea of the value of your property.
• Your personal contact details so you can receive a quote and so one of Central Trust's team members can contact you to discuss your application further.

Being a direct lender means that Central Trust can offer fairly quick lending decisions. Identity and credit checks have to be carried out by Central Trust but, if approved, the money can be in your bank account in as little as two to three weeks.