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Finance Management

By secta finance | 1 year ago

Using the Secta Advance Plan calculator

Although our two calculators are similar, there are a couple of differences. Here is an example of how to use the Secta Advance Plan calculator.

Secta Advance Plan

Value of home: £450,000

Mortgage : £250,000

Step 1: Enter the value of your home and your outstanding mortgage into Step 1 of the Advance Plan calculator and it will estimate the maximum amount you could borrow with this type of plan.

In this case the maximum is £200,000.

Step 2: So, in this example, even though you have the potential to borrow up to £200,000, you might want to know how much it might cost to borrow say, £75,000, with the repayments to be made over  15 years.

On Step 2 of the calculator, enter the amount you want to borrow under “Facility amount” (in this case £75,000) and how many years you want to repay it over under “Repayment period” (in this case 15 years).

You will see that the monthly repayments will be about £574 per month for 15 years. As with the Secta Flexiplan, the longer the repayment period the lower the monthly repayments. Don’t forget that whatever you decide, you can always repay the loan early (without penalty) if you choose.

Remove the stress of paying school fees with a Secta finance facility.

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    SECTA FINANCE IS A MORTGAGE BROKER WORKING WITH A PANEL OF LENDERS. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED AGAINST IT.
    Secta Finance Limited is authorised and regulated by the Financial Conduct Authority. Our Financial Services number is 820181.
    You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register.


    Secta Finance Limited is a company registered in England and Wales under 11462102.
    Registered Office: 1 Colleton Crescent, Exeter, United Kingdom, EX2 4DG

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