Both a secured loan and a homeowner loan are loans which are secured against your property. This means that if you can no longer keep up repayments then you risk losing your home.
If you use your loan to pay off your high interest credit and store cards, then it will cut your monthly repayments.
We will do our best to help. no matter what your credit history. You are best calling our freephone number and speaking directly with one of our expert advisors.
With a homeowner loan you will be able to cut your existing monthly payments on your debt and get a cheaper interest rate than an unsecured loan.
The biggest disadvantage is that if you fail to keep up on the monthly repayments then you risk losing your home.
There are a number of different ways that you can compare a loan, but the easiest way is to look for the lowest APR (Annual Percentage Rate).
The amount that you will have to pay each month is dependant on the amount that you borrow. For more information please call our freephone number.
Unlike some lenders, we would never restrict you in what you decide to do with your loan. But one of the most common reasons to get a secured loan is to consolidate your unsecured debts.
A secured loan is a loan secured against an asset of value, such as your home. If you fail to keep to these repayments then your home may be at risk.
Whereas an unsecured loan is not secured against any of your belongings, but as a result it will usually carry a higher interest rate.
There are a number of varying factors which will effect the repayment period. And some Secured Loans give you the option to pay the loan back earlier than planned.
This is dependant on your financial circumstances, but you may be able to borrow a figure into the hundreds of thousands.
At the end of the day it has to be your decision if you think you should get a secured loan, just make sure that you do not over burden yourself by getting into more debt. You also need to make sure that you can afford to make the monthly payments as they fall due, as your home will be at risk if you fail to do so.
Debt Consolidation will ask you a number of questions about your finances, so we can understand more about your situation and, more importantly, make sure that we find a loan which will not hinder your financial circumstances.
Debt Consolidation have a leading panel of lenders and we will always aim to find you the best loan deal to suit your circumstances. But if you have a poor credit rating then you need to be prepared to pay a high interest rate.
Yes, even if you have been turned down for a loan in the past, Debt Consolidation could still get you accepted. The best thing to do is to speak to our advisors on freephone 0808 131 0037.
DebtConsolidation.co.uk is a trading name of Ask Finance Ltd which is registered in England and Wales (company number 4229724), Jackson House, Sibson Rd, Sale, Manchester, M33 7RR. Ask Finance is licensed under the 1974 consumer credit act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.