You could receive your loan in as little as 3 days!
Representative Example: A secured loan of £31,000 payable over 7 years on a fixed rate of 9.83% for the first 5 years, followed by a variable rate, currently 9.69%, would require 60 monthly payments of £553.17 followed by 24 monthly payments of £552.39. The total amount repayable would be £46,447.56. This includes interest, an arrangement fee of £1,999 and a processing fee of £499. The overall cost for comparison is 13.1% APRC representative.
A residential mortgage is a loan secured against the home you live in. It can be used to replace your existing mortgage, release equity from your home or, if your property is mortgage-free, borrow against its value.
Residential mortgages generally fall into two categories:
First charge mortgages:
A first charge mortgage becomes the main mortgage secured against your property. At Central Trust, our first charge mortgages are available for remortgages and capital raising against unencumbered properties. We do not currently offer first charge mortgages for purchasing a property.
Second charge mortgages:
A second charge mortgage, also known as a secured loan, allows you to borrow additional funds while keeping your existing mortgage in place. This can be a suitable option if you have a competitive mortgage rate or would incur early repayment charges by remortgaging.
Depending on your needs, we may be able to help with either a first charge mortgage or a second charge mortgage, subject to eligibility.
We do not currently offer mortgages for purchasing a property, although we plan to introduce purchase mortgages in the future.
Residential mortgages can be used for a variety of purposes, including:
Whether you're looking to remortgage, raise capital or borrow against your home's equity, Central Trust offers flexible residential lending designed around your individual circumstances. Every application is manually underwritten by our experienced team, allowing us to look beyond automated credit scoring and understand the full picture.
The right option depends on your circumstances, your existing mortgage and what you're looking to achieve.
A residential mortgage is typically used when you're buying a home or remortgaging your current property. It may also be suitable if you're looking to borrow more by remortgaging, particularly if you're coming to the end of your current mortgage deal.
A secured loan (also known as a second charge mortgage) is an additional loan secured against your property while you keep your existing mortgage in place. It can be a suitable option if you want to raise capital without changing your current mortgage, especially if you're on a competitive interest rate or would incur early repayment charges by remortgaging.
A residential mortgage may be suitable if you:
A secured loan may be suitable if you:
You should also consider why a residential mortgage might not be right for you:
A remortgage replaces your existing mortgage with a new one, either with your current lender or a different lender. This can be used to secure a new rate, release equity from your property, or both.
A second mortgage, also known as a secured loan or second charge mortgage, allows you to borrow additional funds against your property's equity while keeping your existing mortgage in place. This can be beneficial if you're on a competitive mortgage rate or would incur early repayment charges by remortgaging.
The most suitable option depends on your circumstances, including your current mortgage terms, how much you want to borrow, and your financial goals. Our team can help you explore both options and find the right solution for your needs.
Yes, subject to eligibility. We will run a credit search followed by a manual review to assess your credit history, affordability and full circumstances.
You could access funds within days by calling our team directly or enquiring online.
We are one of the UK's longest established specialist lenders, so you can relax knowing you're dealing with an experienced team.
We are committed to responsible lending, clear communications and good customer outcomes throughout the borrowing journey.
Your Loan,
Tailored for You.
Consolidating debt? Paying for a large expense like home improvement or a wedding? We have you covered.
Unlike many other lenders, there is no strict automation to our lending decisions. Your application is assessed by our team, not by a computer.
Stephen Stone
2 years ago
Incredible company. Empathetic and supportive staff that know how to offer customers a package that suits them. I was fed up with automated systems from the standard banks. This company talk to you and help you find something to suit your circumstances. I cant thank them enough for how they helped me
Greg Erasmus
3 years ago
When I contacted Central Trust I had a very strict deadline to make a payment. Jenny was extremely helpful and informative and got the process started straight away. The whole way through I was kept informed at every stage of my application and any hiccups was swiftly dealt with. I can't thank Jenny, Tara and Stephanie enough for their help and professional service. Highly recommend.
Edward Mawby
3 years ago
I originally left a review that said I was not satisfied with the service provided, however after being in touch with Tara I felt she tried her best to get the answer we wanted. Unfortunately it didn't work out, but she left us feeling optimistic that we can go back in a couple of months time to try again. Thank you for doing your best to help!
Anglela Ferrante
3 years ago
What an absolute delight of a company. Following setback created by the mini budget, I was left in a predicament, central trust came to the rescue and provided an excellent swiftly process. I would highly recommend using them. I dealt with Jenny who couldn’t of been more proactive and helpful.
Gwenda Squire
6 years ago
Really friendly, professional service. Completed within a matter of days. Would highly recommend
David Cutler
6 years ago
Mostly good, gave me the wrong return address for a form that needed a signature witness which meant the form was lost and I had to go through the hassle of finding a witness again. Asked me to send a settlement figure which they had already received from me and had acknowledged receipt. But on the whole much more efficient, faster and more communicative than the bank who I applied to borrow the money from.
Stuart Donald
6 years ago
Professional and pressure free from start to finish.
Tracy Mawson
6 years ago
Fantastic service from start to finish very efficient.
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A mortgage is a loan secured against your property. It allows you to borrow money, usually to buy a home or raise funds against the equity you've built up. The loan is repaid over an agreed term through monthly repayments, and your home may be repossessed if you do not keep up these repayments.
Our mortgage products can help you:
No — a homeowner loan is different from a mortgage. It's taken out in addition to your mortgage, and your mortgage always takes priority. If your home were ever repossessed to repay a debt, the mortgage lender would be paid first, followed by the homeowner loan lender, with any remaining funds going to you.
No. A secured loan is not a mortgage. It's a separate loan taken out in addition to your existing mortgage, secured against the same property. Your mortgage always takes priority: if your home were repossessed, the mortgage lender is repaid first, then the secured loan lender, with any remaining funds returned to you.
The right option depends on your circumstances. A first charge mortgage replaces any existing mortgage on your property or can be taken out against an unencumbered property. A secured loan (also known as a second charge mortgage) allows you to borrow against your home's equity without replacing your current mortgage. If you're looking to remortgage or raise capital, we'll assess your circumstances to help determine which option best suits your needs.
Taking out a second mortgage is not the same as remortgaging. A remortgage replaces your existing mortgage with a new one, either with your current lender or a different lender. This can be used to secure a new rate, release equity from your property, or both.
A second mortgage, also known as a secured loan or second charge mortgage, allows you to borrow additional funds against your property's equity while keeping your existing mortgage in place. This can be beneficial if you're on a competitive mortgage rate or would incur early repayment charges by remortgaging.