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Understanding Joint Loans

A secured joint loan from Loanable is designed to provide financial solutions to two or more individuals by pooling their credit strength together. These loans are secured against a shared property and provide a unique opportunity to reach shared financial goals, even in cases where one party might struggle to get approval for a loan individually.

Here’s why our secured loans might be the perfect fit for you:

  • Mutual Financial Strength: Combining financial resources and credit histories, our joint loans can offer greater borrowing power, making it easier for you and your partner to secure the funds you need. Loans range from £10,000 to £1 million, ensuring you can finance large projects or purchases with a single, regular repayment.

  • Flexible Terms: We acknowledge the varied financial situations of our clients. Hence, we offer repayment periods from 3 to 30 years, allowing you and your loan partner to select a term that aligns with your joint financial capacity and plans.

  • Diverse Applications: Our secured joint loans can serve various purposes. Whether you are looking to buy a new home, invest in a business, or fund a substantial project, our loans offer the financial backing you need.

  • Inclusive Approach: Conventional lenders often look at individual credit histories, which can be a hurdle if one party has poor credit. At Loanable, we consider the collective financial profile, which can enhance loan approval chances and potentially lead to more favourable terms.

  • Shared Property Value Loans: Need a loan that reflects the full value of your shared property? Our secured joint loans can cover 100% of the property value (LTV), providing you with the maximum benefit of your joint asset.

At Loanable, we’re not just loan providers; we’re financial partners dedicated to supporting you throughout your financial journey. Our team of experienced professionals is ready to guide you and your loan partner(s) every step of the way. With our secured joint loans, we aim to help you achieve your shared financial ambitions.

The Benefits of Choosing Loanable Joint Loans

Our mission at Loanable is to walk alongside you in your financial journey, ensuring you have access to the resources you need to make your dreams a reality. Our secured joint loans are designed to offer numerous benefits, thereby enabling you to handle your financial responsibilities with ease, no matter what your situation is.

  • Shared Financial Responsibility: With our secured joint loans, you and your co-borrower can share the responsibility of repayment. This can ease individual financial burdens and potentially allow you to secure a larger loan amount.

  • Flexible Repayment Terms: We understand that everyone’s financial circumstances are unique. Therefore, we offer flexible repayment terms ranging from 3 to 30 years, empowering you to choose a repayment period that aligns with your financial capabilities and objectives.

  • Comprehensive Financial Assessment: We believe that your capacity to repay a loan isn’t just about credit scores. At Loanable, we consider your entire financial picture, including your combined income and outgoings, to make an informed lending decision.

  • No Initial Credit Checks: Applying for a loan can be intimidating, especially when you’re concerned about its potential impact on your credit score. That’s why we don’t conduct initial credit checks. Instead, we focus on assessing your overall financial health to inform our lending decisions.

Team up with a co-borrower and choose Loanable’s secured joint loans for a more collaborative and supportive approach to lending.

Secured Joint Loan Use Cases

Our secured joint loans can come in handy in a variety of scenarios. Here are a few common instances where a secured joint loan could be your best choice:

  • Consolidating Debts: If you and your co-borrower are both juggling various debts from multiple lenders, a secured joint loan can help consolidate all these debts into one manageable loan, simplifying your financial responsibilities. For more information, explore our debt consolidation loans.

  • Purchasing Property: Perhaps you and your partner are looking to buy your first home or want to invest in a piece of property together. A secured joint loan can offer the substantial funding needed to make this significant purchase.

  • Home Improvements: Whether you want to modernise your kitchen, add a sunroom, or renovate your basement into a guest room, a secured joint loan can provide the necessary funds. Using the value of your home, you can realise your plans for home transformation. Take a look at our home improvement loans for more insights.

  • Big Life Events: Whether you’re planning a wedding, looking forward to a grand vacation, or preparing for the arrival of a new family member, these milestone events can be expensive. A secured joint loan can help manage these costs over a longer term, making them more manageable.

  • Starting or Expanding a Business: If you and your co-borrower have entrepreneurial aspirations, a secured joint loan can offer the capital you need to get your business venture off the ground or expand existing operations.

  • Improving Cash Flow: Secured joint loans often come with competitive interest rates, which can lower your monthly repayments if you’re consolidating high-interest debts, leaving you with more disposable income each month.

At Loanable, we’re dedicated to providing financial solutions tailored to your unique circumstances. Depend on us to steer you towards a more manageable financial future.

Are You Eligible for a Loanable Secured Joint Loan?

At Loanable, our dedication lies in making sure our joint loans are achievable for everyone. Our main purpose is to support you in reclaiming your financial equilibrium, regardless of your current circumstances. Whether you’re embarking on a major project, handling an unexpected expense, or consolidating debts, our joint loans are designed with a focus on bolstering your financial strength and stability.

Here’s a broad overview of our eligibility criteria and stipulations:

  • Age Requirement: You must both be at least 21 years old to apply for a Loanable Joint loan.

  • Property as Security: A bad credit loan requires a property as collateral. This could be your residence or another property you own.

  • Proof of Ability to Repay: While we don’t exclusively base our decisions on your credit history, we do need evidence that you’ll be able to repay the loan. This could come in the form of income details, savings, or a budget plan reflecting your ability to manage the new loan repayment.

  • Residency: Our debt consolidation loans are available to UK residents. In terms of documentation, we usually require:

    • Proof of identity (e.g., a passport or driving license)
    • Proof of address (e.g., a utility bill or bank statement)
    • Proof of income or repayment plan
    • Details about the property being used as security

We’re proud of our inclusive approach to lending. Don’t let a lack of traditional qualifications or a poor credit history stop you from applying for a secured joint loan with us. We’ll look at your entire financial situation and work hard to find a solution that suits you. Apply today and let us help you streamline your financial management.

How to Apply for Your Joint Loan

We understand that dealing with money matters can be overwhelming, which is why we’ve made our joint loan application process straightforward and hassle-free. Here’s your step-by-step guide to applying for a joint secured loan with Loanable:

  • Step 1: Complete Our Online Form
    Start by filling in our simple online form. We’ll need a few basic details about you both, the loan amount you want, and the property you’re using as collateral.
  • Step 2: Talk with Our Advisors
    Once we get your online form, one of our friendly and skilled advisors will get in touch. They’ll chat about your joint and individual needs, and they’ll be happy to answer any questions. This conversation lets us tailor the loan to fit your unique needs.
  • Step 3: Get Your Personalised Loan Proposal
    After we talk with you, we’ll use our know-how to find the best lender for you and put together a loan proposal that fits your situation. We’ll send this proposal to you for you to look over and approve.
  • Step 4: Legal and Property Checks
    When you’ve approved the proposal, we’ll go ahead with the needed legal checks and property valuation. We aim to do these checks quickly to avoid slowing down your loan process.
  • Step 5: Loan Payout
    After we’ve successfully done all the checks, the lender will release the funds. How long this takes can vary, but we always aim to get the money to you as soon as we can.

Our team of expert advisors is on hand seven days a week to help you throughout the application process. Feel free to reach out to us anytime.Getting a joint loan with Loanable is this simple! Start your application today and take the first step towards reaching your financial goals.

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Joint Loans FAQs

At Loanable, we’re all about making your financial journey simple and transparent. So, we’ve gathered your most common questions about our joint loans, providing you with all the answers you need in one place.

A secured joint loan is a type of loan where two or more borrowers jointly apply for the loan and secure it against an asset, typically a property. Both borrowers are responsible for repaying the loan.

Remember, it’s crucial to ensure that you can meet the repayments of a secured loan, as your property will be at risk if you fail to repay the loan. Always consult with a financial advisor or trusted expert before making a decision.

Your Trust is Our Reward

At Loanable, your trust is paramount to us. We’re proud to be fully authorised and regulated by the Financial Conduct Authority (FCA). This means we adhere to the highest standards of conduct in the financial services industry, putting your interests at the heart of our business.

We’re also humbled and grateful for our clients’ positive feedback, earning us over 150 5-star reviews on Feefo.

Take the first step towards securing your property goals with a company that’s trusted by hundreds of homeowners across the UK. Get in touch with us today to explore your bridging loan options.

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Get in touch

We’ve made sure you have various ways to reach out to us. Whether you have questions, need more information, or are ready to apply for a loan, we’re here to help!

Phone: You can call us directly at 01925 988055. Our friendly team is available Monday-Sunday from 9am-7pm to assist you.

Email: Prefer typing out your queries or concerns? No problem! Reach us at [email protected], and we’ll get back to you as soon as possible.

Physical Address: If you’d rather speak to someone in person, you can visit our office at The Old Rectory, Rectory Lane, Winwick, Warrington, WA2 8LE.

Taking the Leap with Loanable:
Ready to bridge the gap in your finances with a bridging loan from us? Wonderful! Click the “Complete Our Form” button below, and let’s get started. Or if you have more questions, don’t hesitate to reach out to our team. We’re always here to ensure you have all the information you need to make the best decision. Your financial future awaits, let’s explore it together with Loanable!

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About Us.

We’re based in the North West of England with a dedicated, experienced team of  advisors helping homeowners, property developers and investors across the United Kingdom. We have access to over 400loans from the nation’s top lenders. We’ll match your individual circumstances to the right advisor who will source the best lender and ensure you get the correct deal.

We’re open 7 days a week Simply complete the form and one of our advisors will make contact and talk you through your options.

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