Is loan secured or not?

[readandact]

Hi all

I recently received my SAT from Welcome finance with regards to claiming PPI
However, my original agreement and my "top up loan" agreement both state Secured Loan.
This is odd because when my broker arranged my mortgage in march '07 with Preferred, it was a condition that they would provide 90% and Welcome would provide the rest by way of an unsecured loan because if it was secured then together they would exceed the value of the property.
I've been in contact with my broker and she confirms that the arrangement was for Welcome to provide an undecided loan as we had no deposit.
Now I'm left unsure whats going on and if mymortgage company find out,would they pull the plug?
Please help as I don't know what my next step is.
Thankyou in advance.
------------------------------- merged -------------------------------
Sorry, that's SAT not SAT.
thanks
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SAR!

[calamity jane]

Re: Is loan secured or not?

Bumping for advice.





CJ

[WendyB]

Re: Is loan secured or not?

If it was secured it would be by a charge on your house, which should be shown on the Land Registry. Can you remember if the paperwork you signed in the first place was for secured or not? do you have any copies other than those sent as part of your SAR?