It’s a matter of personal choice - and individual circumstances. The simplest way to assess this is to go to Step 1 of the Secta Flexiplan calculator and enter the value of your home and outstanding mortgage. You’ll then receive an estimate of the maximum loan available to you on the Flexiplan. If this is sufficient for your requirements, the only question to ask is whether you want all the funds upfront (choose Secta Advance) or whether you’d like to benefit from the flexible lending option (Secta Flexiplan).
If the calculator is not offering you sufficient funds, enter the same figures again on the Secta Advance Plan calculator which is likely to offer more. This is due to differences in lending criteria for the lenders for each finance plan.
Overall, if the Flexiplan offers you sufficient funds, its flexibility ensures you only ever pay for the funds you need at any time, maximising its cost efficiency.
Please complete an Enquiry Form. We will then contact you to discuss the next steps.
For some people, a remortgage can offer a sensible solution, but for many it can be expensive. Our finance plans can sit alongside your existing mortgage to provide a simple, affordable option to pay school fees.
What’s more, Secta Flexiplan offers a key advantage over a remortgage as it gives you peace of mind that there is a facility in place to cover the school fees; yet you can drawdown from it only when you need to, and you only pay interest on the amount you actually need.
As we are authorised by the FCA to give professional and impartial advice, we will consider the best option for you (including a remortgage) before making a recommendation. If a re-mortgage is the most suitable option we can search the whole of market to find the best product for you.
To be eligible for a loan you must:
You may apply if you are:
We aim to give you an indicative quote immediately on enquiry. A decision in principle can be obtained within 48 hours of completing the full application.
However, completing the application takes a few weeks due to the administration of the loan and communication with the first charge mortgage lender. We will complete this work on your behalf but please allow enough time for this before the termly payment is due.
One of our advisors will be in touch, usually the same working day, to explain more about the finance plans and the application process.
Unfortunately, we are only able to offer finance plans to homeowners who have equity in their property.
Yes, providing you have equity in a property you own, we can provide you with a product.
We will need:
The APR - or Annual Percentage Rate is a figure which helps you understand the cost of borrowing.
The APR you're quoted may vary from the advertised rate as your personalised quote is based on your current individual circumstances and the amount you choose to borrow.
The equity in your home is the amount of your home that you actually own. For most people, it is the value of their home less any outstanding mortgage.
A secured loan is a type of loan in which the borrower pledges an asset (often their home) as security for the repayment of a loan. This type of loan are much less risky for lenders, so lenders are generally more willing to make larger loans at much lower interest rates and over longer terms than they would with unsecured loans. A mortgage is the most common form of secured loan.
We cannot accept payment holidays or payment plans and you must contact your lender directly. Your loan is secured against your property and you risk repossession if payments are not maintained.
Your credit score will not be affected by an initial enquiry or by requesting an indicative quote.