Secured Loans

The Cameron Fund strives to tailor the support we provide to an applicant’s needs and circumstances. In appropriate situations, we are able to provide a loan which is secured by an asset belonging to the applicant, usually a property or possibly an insurance policy.

Secured loans are most usually offered when substantial property repairs are urgently needed, such as for a leaking roof, and there is sufficient surplus between the market value of the property and any existing borrowing.

When the Fund offers a secured loan, applicants will need to receive independent legal advice and sign a loan agreement. We pay the applicant’s legal fees. The Cameron Fund takes a charge on the property similar to a mortgage, which is redeemed when the property is sold or earlier if the beneficiary has sufficient funds. The legal fees of both the Fund and the applicant are added to the value of the loan. The process takes approximately three months and is not suitable where more urgent assistance is needed.

All secured loans are offered interest-free.

Unsecured Loans

Occasionally an applicant is temporarily unable to meet urgent but essential expenditure, for example to visit a terminally ill close relative. In such circumstances, the Trustees may offer a loan for a short period. The applicant is asked to sign a promissory note and agree to repay the debt within a few months, sometimes in instalments. Unsecured loans are usually less than £3,000 and are offered interest-free.

Guaranteed Loans

In situations where substantial funds are needed within three months, such as paying mortgage arrears to avoid re-possession of a family home, The Fund may be able to provide interest-free unsecured loans which are guaranteed by a third party. In such instances, it is the applicant’s responsibility to find a guarantor who will be willing to sign a loan agreement to make repayments of the loan if the beneficiary fails to do so. Potential guarantors must also be willing to provide evidence that they have sufficient cash funds to repay the full value of the loan. There are no legal fees and loans can usually be arranged within one month of the offer being made by Trustees.