Secured Loans (14.5% APR typical variable)
Debt Consolidation can provide you with a secured loan for any reason, whether it is for home improvements or that luxury trip away to the sun! You can use your loan to consolidate all your existing debts, such as credit cards or personal loans.
Our specialist Debt Consolidation advisors can offer you a number of borrowing terms for your secured loan such as:
* 3 to 25 year repayment period.
* Borrow any amount between £3,000 and £100,000.
* Any purpose loan.
* Hundreds of lending plans available.
* A principle decision within 48 hours.
* We can help you get a loan, no matter what your financial status.
What is a Secured Loan?
A secured loan is a loan where the lender has some form of security on the money which is lent. For a secured loan, the asset which the loan is secured on most commonly comes in the form of the borrower’s home.
For more information about a secured loan, please see the Debt Consolidation Secured Loans Help Guide, or call our expert secured loan advisors on 0800 048 3674.
Why Get a Secured Loan?
If you suffer from a bad credit history then you might find it very hard to get accepted for a loan, but there are poor credit loans which are easier to get accepted for if you have CCJ’s or mortgage arrears.
A secured loan can often be offered at a much more competitive interest rate, in comparison to a unsecured loan. This is because the lender has some form of security against the money. However this also means that the borrower can lose the asset that the secured the money on, if they fail to keep to the agreed repayments.
Secured Loan or Unsecured Loan?
When you are choosing a new financial project, it is important that you are aware of the differences between the options. If you are want a loan, then you might wonder what the difference between a secured loan or an unsecured loan are, and also which can benefit you more.
A Secured Loan is secured against an asset, which is often your home. Whilst this is a serious financial decision to make, if you are suitable for a secured loan it can often be your best choice. You will be using your home for security on the loan, so lenders can often offer you a loan at a much more favourable interest rate. You should also be able to take a larger loan and make your repayments over a longer term.
An unsecured loan does not have anything secured against it, which means that it does not carry the same risks as a secured loan. As the lender has no security against the money, it means that they are harder to get accepted for if you have a poor credit history.
Our secured loans start from just 14.5% APR Variable. Debt Consolidation has access to many different types of secured loans so we can try to find the perfect loan for your needs - no matter what your financial status.
Am I Eligible for a Secured Loan?
If you are a homeowner and you are looking for a loan, then a secured loan could be right for you. Debt Consolidation can offer a number of secured loans and all homeowners can apply.
Don't worry if you have an adverse credit rating, county court judgment (CCJ's), mortgage arrears or you are self employed with no proof of income - Debt Consolidation can help you find a secured loan.
Remember that a secured loan will be secured against your home, meaning that you could risk repossession if you do not keep up to date with the secured loan repayments. For more information please call our fully trained Debt Consolidation Loan advisors free on 0800 048 3674.
How Do I Apply for a Secured Loan?
With Debt Consolidation it is easy for you to apply for a secured loan. Either call free on 0800 048 3674 or fill in the Quick Enquiry form so we can call you back. We can help you find a secured loan for any purpose, such as debt consolidation purposes.
If you are still unsure about your options you might want to try the Debt Consolidation 1 Minute Loan Test, which will show you what loan options are best for you.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 8.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.
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.