How to Find the Best Loan to Suit Your Needs?

Access to loans for over-50s can be a challenge if you don't have traditional income streams or have complicated finances due to pensions, investments and more. That why we work with Fluent Money, who have the largest panel of lenders that provide a range of loans..

Why Are Fluent Best Placed to Support Over-50s with Loans?

Founded in 2008, Fluent Money works with an extensive panel of lenders and will always recommend the best solution for your individual circumstances and find the best, most suitable deals.

Fluent have the expertise to support you hand in hand through the application process, to give you the best advice and best chance of securing the funding that you seek. They also have the best digital customer journey we have seen, keeping you up to date step by step of the process.

What Type of Loans Are there and What's the Difference Between Them?

Fluent Money have access to the largest panel of lenders that provide secured loans, home loans and bridging loans. Here we look at the differences between these types of loans.

Secured Loan

A secured loan is borrowing that is secured on an asset such as your home. Typically you have to be a property owner and have equity available in your home, so it’s sometimes also known as a home owner loan. Using your property as security for the loan enables you to borrow larger sums of money over a longer period – generally £15,000 or more – and at lower rates of interest. In some cases the collateral used could also be your car or valuables, such as jewellery. For more information, read our article: How Does a Secured Loan Work? here.

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The Best Home Loan

If you’re considering doing some work to your home you could find that you need to borrow funds to do so. But what’s the most cost-effective way to go about it? It all depends on what you’re hoping to achieve and how much you think the work will cost. Plus, another factor can be your credit history. There are two main different kinds of loan available for home improvements. These are unsecured loans and secured loans. For more information, read our article: What is the Most Cost-Effective Loan for Home Improvements? here.

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Bridging Loan

If you need to act fast to secure a property a bridging loan could come in handy, but it’s not the right solution for everyone. Taking out a bridging loan, which is typically held for only 12 to 24-months, can be a good way to secure short-term finance. “The idea is that it will provide funds to someone when a traditional mortgage is not available,” explains John Hardman, managing director of Fluent Bridging. “It takes the pressure off the client so they can take the time to get their residential mortgage in place.” For more information read our article: How a Bridging Loan Helped Me Get my Dream Home here.

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Need Help Finding the Loan to Suit Your Needs and Long-Term Financial Goals?

If you’re considering buying a second home or investing in a property as an income stream, it’s worth contacting a specialist mortgage broker even before you start the process to ensure you get the best advice. A good mortgage advisor can talk you through the options and costs and help you decide if becoming a landlord is really for you.