Optimum Credit Secured Loans Reviews – Compare Lenders 2024

optimum credit reviews

Discover whether Optimum Credit Secured Loans rates are a fit for you. 100’s of secured finance products & high acceptance rates!

  • Special “broker-only lenders” not featured on the comparison sites with great terms
  • Intelligent lending technology & no upfront fees
  • Great for clearing other loans/credit cards/existing car credit
  • New second mortgage lender panel for 2024
  • High loan-to-value (LTV) with some lenders
  • Homeowners could borrow from £10k – £900k
  • Keep your existing mortgage with no worries
  • Quick & Easy Secured Homeowner Loans – Pre-approval Without Credit Checks
  • Sympathetic To Past Credit Issues: We Have Lenders That Accept Virtually All Types Of Credit.Prime, Light, & Heavy Adverse All Considered.
optimum loans

Pre-Decision In Principle Application Form:

  • Secured Loans
    Get your 1 minute no obligation quote
  • Please enter a number from 10000 to 25000000.
    Please enter a value between £10,000 and £25,000,000
  • Please enter a number from 50000 to 25000000.
    Please enter a value between £50,000 and £25,000,000
optimum credit secured loans

Optimum Credit Reviews

Since the Optimum Credit Home Loans launch in October 2013, they’ve released over £700 Million in secured home finance. With offices based in Cardiff, optimum credit secured loans have skilled advisors knowledgeable of the subprime mortgage market.

On offer are fixed-rate, variable rates and tracker rates. However, their in-house team can only advise on the best internal product they can offer you.

The Offers Available from Optimum Credit

  • You can take out a loan for any purpose from £10,000 up to £900,000.
  • Repayment terms from 3 to 25 years, with the end of the loan term being required to be paid in full by your 75th birthday.
  • With optimum credit secured loans, all 2nd charge loans are based on borrowing up to a maximum LTV (loan to value) of 95%.
  • The minimum home valuation for security on your loan is £75,000.

Credit Profiles Optimum Credit Accept

  • Discharged DMPs (Debt Management Plans)
  • Satisfied IVAs (Individual Voluntary Agreements)
  • One recent adverse credit on your credit reports

Other lenders accept far more challenging credit profiles, so if you don’t meet the criteria above, contact us as we work with a few select partners offering bad credit secured loans with unlimited CCJs, bankruptcies and recent defaults on secured loans.

Affordability Criteria for Optimum Loans

While conducting our optimum credit reviews, we discovered that Optimum Credit has no minimum income requirements. Affordability is based on a full breakdown of income and expenses. For assessment purposes, ONS (Office of National Statistics) data is also used.

Optimum Credit Secured Loans Eligibility Criteria

To be eligible for a bad credit secured loan from Optimum Credit, you must have continuously been in full-time employment for the past three years. Self-employed applications are welcome and will require proof of income. Optimum is flexible with proof of income and can accept recent bank statements and form SA302.

optimum credit cardiff

What Your Loan Can Be Used For

You can use the funds released for almost any purpose. The reason for “almost” is that part of Optimum’s Lending Criteria excludes the use of loans to pay for any matrimonial expenses, such as buying out your ex-partner following a divorce, for the transfer of equity or any business purposes.

Other than that, optimum loans acceptable uses are for debt consolidation, home improvement, big-ticket life events like a wedding or a new car, or even a holiday.

Additional Perks of Borrowing from Optimum Loans

  • Unlimited overpayments

Pay beyond your minimum monthly payment by any amount without penalty. You can decrease your outstanding balance at any time by making additional payments.

When you do, you remain in control of how that money is applied to your balance. You can either pay it towards your overall loan to decrease the time it’ll take you to repay it, or you can use the overpayments to reduce your future monthly payments.

  • Knowledgeable staff and a friendly team of UK customer care agents

You’ll be taken care of throughout the application process, and the team is there for ongoing customer support throughout the loan term. If you ever experience difficulties repaying, they’re only a phone call away and are adaptable to the needs of their customers.

  • Various Borrowing Options

Optimum Loan Variable rates and fixed rates are available on longer-term loans. Optimum offers discounted rates for shorter-term loans on 1, 2, 3, 4 and 5-year fixed-rate terms.

The interest rate you can borrow at is always based on the level of risk you’re assessed as being. Not what a credit report says your risk level is but what the underwriters perceive from your application, the reason for borrowing, current salary income and expenses.

  • Manual Decision-Making Process by Experienced Adverse Credit Underwriters

All optimum loan applications are dealt with individually. They’re reviewed, assessed and either approved or denied based on human decision-making, using technology for data mining only. The approval or rejection is always based on a team of experienced financial experts; even if you are declined, you’ll be given a clear explanation.

For the highest chance of approval, apply either through an adverse credit mortgage broker or a financial advisor who can compare all the specialist lenders who can help you.

While Optimum Credit does have advisors on hand, they can only advise on their line of products, the same as all banks and building societies do.

We hope you have found our Optimum Credit reviews helpful. For the best advice and custom quotations based on your circumstances, contact us today to find out how much cash we can help you unlock from your home right when you need it most.

Are you able to borrow for personal loans for 25 000 ideal for larger amounts of cash?

The key issues with a personal loan 25000 are the risk of losing your home, the effect of default notices, the discounted property valuation and the borrower not being on the electoral register.

Are you searching for a mortgage rate on second home without an early repayment charge?

The key characteristics of rates second mortgage are servicing existing revolving credit, the impact of defaults and disappointing property valuation.

Are you considering an application for a fixed interest rate secured loan with flexible eligibility criteria?

The key features of a fixed interest rate secured loan are set up costs, the effect of secured loan arrears, the delays in the property valuation and insufficient personal income.

Are you searching for a no phone call loan without an early repayment charge?

The key characteristics of secured loans no phone calls are the limited loan amounts, the effect of mortgage arrears, the home valuers forced sale price and the borrower not being visible on the UK electoral register.

Are you able to borrow bad credit loans for homeowners for people with good credit history?

The key characteristics of a secure homeowner loan are the servicing of existing revolving credit, the effect of secured loan arrears, the delays in the lender’s valuation and the evidence of gambling on bank statements.

Related To Optimum Loans Reviews

Do I have to use a bad credit home loan broker to arrange an Optimum Credit secured loan?

A good, bad credit home loan broker won’t just consider Optimum Credit for your loan application. Dozens of broker-only nice lenders offer homeowner loans to people with poor credit scores.