Secured Loans in Torquay

If you are looking for independent broker advice to arrange a secured loan in Torquay then we can help.

Torquay Secured Loans Explained

A secured loan, also known as a second mortgage or homeowner loan, is a type of loan where the borrower uses their home as collateral. This means that the lender has a "second charge" on the property, behind the primary mortgage, in the event that the borrower is unable to repay the loan. Because the loan is secured against the property, interest rates on these loans tend to be lower than those on unsecured loans. This makes them a popular option for homeowners looking to borrow money at a lower cost.

Secured lending can be used for a variety of purposes, one of which is debt consolidation. Debt consolidation is the process of combining multiple high-interest debts, such as credit card balances or personal loans, into one single loan with a lower interest rate. By consolidating their debts into a single secured loan, homeowners can save money on interest and simplify their monthly payments.

Keep in mind, however, that when taking a secured loan, a homeowner is putting their property at risk in case of non-repayment. It is important to consider all options and seek professional advice before making any decision.

Did you know there were 1,855 property transactions in Torquay during 2022 with an average sale price of £274,898. Read More >

Secured Loan Uses

Secured Loans can be used for any purpose from home improvements to funding for business purposes. With lower interest rates than credit cards and unsecured loans they are often used for debt consolidation.

Applying for a Secured Loan

Secured loans often can be arranged without any impact on the first charge mortgage, ideal if you are happy with your current arrangement.

Whole of Market

As a broker we help our clients in Torquay find the most appropriate deal from the market no matter the circumstance.

Key Points

  • Borrow from £10,000
  • Quote in under 24 hours
  • Money as quick as 10 days

Get Expert Advice

If you are looking to get a quick decision on a secured loan in Torquay, either leave your details on our contact page and we will get straight back...

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0141 280 3366

Torquay Quick Facts

Based on 1,056 registered sales in 2022, the median house price in Torquay is £223,000 and the average price is £268,755.

In Torquay the median house price of £223,000 during 2022 is a 3.72% increase on the 2021 median price of £215,000. The 2022 median price is a 46.71% increase on the median price 10 years ago in 2013 of £152,000.

In Torquay during 2022 there have been 1,056 sales, including 341 terraced houses, 123 detached houses, 152 semi detached houses, 389 flats/maisonettes and 51 other properties.

Torquay Previous Month Prices

Average monthly housing prices in Torquay over the past year. The most recent months may not presently include all recorded sales.

Sample Sales Average Change Median Change
Nov 2022 16 £297,391 5.4% £263,500 12.6%
Oct 2022 67 £282,231 19.6% £234,000 6.4%
Sept 2022 102 £236,055 -27.8% £220,000 -13.7%
Aug 2022 103 £326,893 35.6% £255,000 15.9%
Jul 2022 93 £241,124 -9.1% £220,000 -2.2%
Jun 2022 102 £265,283 3.1% £225,000 -2.2%
May 2022 107 £257,198 4.3% £230,000 15%
Apr 2022 91 £246,573 -15.4% £200,000 -10.7%
Mar 2022 130 £291,468 0.7% £224,000 11.4%
Feb 2022 92 £289,564 19.5% £201,000 -3.1%
Jan 2022 102 £242,269 -6.9% £207,500 -3.5%
Dec 2021 119 £260,233 20.6% £215,000 13.2%
Nov 2021 115 £215,772 -23.7% £189,950 -5%

Sample Sales Average Change Median Change
Nov 2022 2 £592,500 -5.5% £592,500 40.2%
Oct 2022 10 £626,900 70.4% £422,500 14.7%
Sept 2022 8 £368,000 -47.5% £368,500 -39.6%
Aug 2022 19 £700,655 68.5% £610,000 71.8%
Jul 2022 11 £415,909 -21.3% £355,000 -16.5%
Jun 2022 9 £528,444 7.6% £425,000 -12.4%
May 2022 13 £491,269 -25.5% £485,000 6.6%
Apr 2022 8 £659,375 10.7% £455,000 -5%
Mar 2022 20 £595,375 -32.9% £478,750 -16.7%
Feb 2022 11 £887,364 92.1% £575,000 38.6%
Jan 2022 12 £462,042 -31.4% £415,000 -36.2%
Dec 2021 13 £673,192 47.9% £650,000 41.3%
Nov 2021 11 £455,091 -38.2% £460,000 7%

Sample Sales Average Change Median Change
Nov 2022 2 £292,500 2.7% £292,500 -2.5%
Oct 2022 8 £284,750 -10.1% £300,000 -10.4%
Sept 2022 11 £316,909 -3.9% £335,000 -4.3%
Aug 2022 17 £329,906 22.5% £350,000 38.1%
Jul 2022 10 £269,400 -23.6% £253,500 -15.5%
Jun 2022 22 £352,589 8.6% £300,000 3.4%
May 2022 18 £324,657 15% £290,250 6.5%
Apr 2022 15 £282,267 -24.9% £272,500 -6%
Mar 2022 21 £375,905 27.3% £290,000 -7.9%
Feb 2022 12 £295,375 -7% £315,000 1.9%
Jan 2022 16 £317,622 13.1% £309,000 4.7%
Dec 2021 15 £280,842 9.8% £295,000 15.7%
Nov 2021 21 £255,883 2.2% £255,000 4.9%

Sample Sales Average Change Median Change
Nov 2022 7 £249,894 -7.6% £237,500 -9.5%
Oct 2022 24 £270,417 15.4% £262,500 17.3%
Sept 2022 40 £234,410 -0.8% £223,750 -5.3%
Aug 2022 32 £236,193 -10.7% £236,250 -2.4%
Jul 2022 34 £264,387 13.8% £242,025 12.7%
Jun 2022 32 £232,397 3% £214,750 -4.6%
May 2022 40 £225,675 1.9% £225,000 9.8%
Apr 2022 31 £221,452 -4.8% £205,000 -6%
Mar 2022 42 £232,717 11.8% £218,000 13.2%
Feb 2022 24 £208,167 1.3% £192,500 -3.8%
Jan 2022 35 £205,570 -0.7% £200,000 -7%
Dec 2021 35 £207,061 -5.8% £215,000 -1.1%
Nov 2021 26 £219,748 -17.4% £217,500 -5%

Sample Sales Average Change Median Change
Nov 2022 5 £247,800 60% £225,000 73.1%
Oct 2022 25 £154,898 -19.5% £130,000 -18.8%
Sept 2022 43 £192,355 -6.4% £160,000 -8.6%
Aug 2022 35 £205,456 26.6% £175,000 17.3%
Jul 2022 38 £162,273 -11% £149,250 5.1%
Jun 2022 39 £182,288 4.8% £142,000 7.2%
May 2022 36 £173,968 6.1% £132,500 -7%
Apr 2022 37 £163,896 -7.4% £142,500 1.8%
Mar 2022 47 £176,920 -4.5% £140,000 -12.5%
Feb 2022 45 £185,298 4.9% £160,000 6.7%
Jan 2022 39 £176,667 -8% £150,000 -9.8%
Dec 2021 56 £192,079 25.5% £166,250 23.1%
Nov 2021 57 £152,996 7.9% £135,000 6.5%

Torquay House Price Information

For more information on house prices in Torquay, go to our dedicated Torquay house price page for charts and postcode sector comparisons.

Torquay House Price Data

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Torquay Yearly Price Changes

Year on year percentage changes in Torquay.

Torquay 2022 Price Distribution

Our Data

Contains HM Land Registry data © Crown copyright and database right 2023. This data is licensed under the Open Government Licence v3.0.