You will probably find that most secured loan lenders will not grant a loan until the RTB is at least a year old, this is due to reducing council interests and the council's right to claim back a percentage of the discount granted for the first three years.

There are some very cheap rates around for a £6k loan at the moment.... just make sure your credit rating is ok before you apply. Have you tried the Smart Search function on this site? it gave me a pretty good indication of what I could expect from a lender.

Good luck!

It's difficult enough to get a good rate on a Right-to-Buy on a council flat in the first place. A secured loan on a flat would be a silly interest rate.

They keep saying interest rates are going to rise on the news. I would take the loan this month.

if i was you i would carefully think about a secured loan these have a notoriously high interest rate and if you look to remortgage you would have to take into account that the loan would need to be paid aswell and you proberley wouldnt have enough equity to do this for around 5 or more years i would have a word with your bro to see if would allow you more time to pay back!

Hi there, I bought my flat recently throught the right to buy scheme (completion was 24th April 06).

My brother lent me £6k & I'm due to pay it back at the end of June. Unfortunately the flat was valued lower than expected, so I couldn't get the extra money I need to pay him back.

I'm aware (hope I'm right) that you can only get a loan secured on your property after 3 months mortgage payments.

Please can you tell me if I were to get a secured loan at the end of July would I get a better APR than if I get a loan at the end of this month?