| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 9.69–13.1% | £10k–£250k | 36–360 mo | secured_homeowner_loan |
Best For
Homeowners with varying credit histories who need funds for debt consolidation or home improvements.
Homeowners needing substantial funds for renovations or debt consolidation, particularly those with varying credit histories.
Central Trust provides second charge mortgages and secured loans for UK homeowners, with amounts ranging from £10,000 to £250,000 and an APR between 9.69% and 13.1%.
Pros & Cons
Watch Out
Applicants should be aware that the secured nature of the loan means their property is at risk if repayments are missed.
Full Review
Central Trust stands as a direct lender, eliminating broker fees and expediting the approval process. Borrowers can access funds quickly, which is ideal for urgent financial needs. The minimum loan amount is £10,000, reaching up to £250,000, with terms ranging from 3 to 30 years.
Interest rates start at 9.69% APR and can reach up to 13.1%. This is relatively high compared to some other lenders, making it essential for borrowers to assess their financial situation thoroughly before committing. Secured loans inherently carry higher risks since they rely on property as collateral, which may deter potential applicants.
Customer reviews highlight a solid reputation, with a 4.5-star rating based on 121 Google reviews. However, those with lower credit scores might find themselves at the upper end of the APR range, potentially leading to higher repayments. while Central Trust can cater to various financial needs, it's crucial for borrowers to weigh the costs against their ability to repay, especially considering the risks associated with secured loans.
What Borrowers Say
Customers appreciate the quick approval and direct lending approach, though some express concerns about the interest rates and associated fees.
