Positive Market Developments

The secured loans market in the UK is becoming larger with annual lending on a rapid rise as borrowers are attracted to secured loans. The growth in the market is due to the following positive developments:

  • improved regulation by the Financial Conduct Authority
  • product innovation from new entrants
  • increased competition pushing down interest rates
  • low interest rates

Despite the above market developments most lenders still use credit brokers to distribute their products. Why? Lenders don’t need to find and advise new customers. They can just pay the credit broker with commission and allow the credit broker to charge a high broker fee.

At StarLoans we believe that many borrowers are paying needlessly high broker costs with little benefit. StarLoans is one of a tiny number of Direct Lenders that can offer borrowers excellent advice, value and service yet save the borrower money. Your regulatory protections are just the same.

Our secured loans are best!

Of course this is a matter of opinion but please consider the following:

1. You can choose the payment method which best suits you: Direct Debit, Standing Order or Debit Card.

2. Loan repayments can be weekly, fortnightly or monthly and can be different amounts from each borrower’s bank account.

3. You can request a Settlement Quotation at any time. Our Early Settlement Fee is only £100

4. You can make overpayments (Partial Settlements) without penalty, meaning:

  • your loan will be repaid sooner if you maintain original payments
  • your payments can be reduced if you stick to the original term

5. You can request a “payment holiday”. We know your income can vary and that there can be unexpected financial demands.

6. You can change your payment method and payment date.

7. You can increase or decrease your normal payments subject to our agreement.

8. You can apply for further advances.

We believe that this flexibility makes our loans the best secured loans in the UK! Remember that you must be a homeowner with an existing mortgage and that a secured loan is secured against your home. These loans are referred to as Secured Loans, “second charge mortgages”, or ‘homeowner loans’.

Our representative APRC of 18.9%, which is offered to at least 51% of our customers, is great value for money! Go to interest rates for more information on interest rates and fees.