Secured Loans

[cycloneuk]

I am thinking about purchasing an existing local business and enquired about a secured loan to be told that i have to have a mortgage, which is a little strange since i own property outright. What options do i have if any? do all lenders require a mortgage these days?

 

[Gillie]

Thats a new one ... if you are prepared to use your property to secure against the loan it don't signify that you aint got a mortgage on it!