How to Find the Best Debt Consolidation Home Loan

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Secured Loan Expert is a trading name of First Union Mortgages Limited one of the largest and most trusted finance brokers in the UK.

We specialise in finding the best loans for our clients from probably the biggest selection of loan deals in the UK with over 950 different deals available at any one time. We will match your requirements with all the deals on offer, ensure that you are aware of all the costs of each individual loan before you chose to apply. We will make the application on your behalf ensuring that your case is seen by the lender in the most favourable light.

Our experts are there to ensure you get the best deal and what’s more our help and advice is free so why not take advantage of our expertise.

A homeowner loan is a personal loan taken out against the equity in your property. Also known as secured loans, these are offered in exchange for you offering your home as collateral. Securing the loan with your home enables you to borrow substantial amounts of money for long periods. Moreover, because the lender puts a charge on your home as security, it offers very good interest rates and manageable terms.

Currently you can borrow up to the maximum limit of 95% of the equity in your home.

- You can obtain a homeowner loan by first comparing the deals in our simple comparison engine and choosing the deal that suits you most. Pay attention to the minimum and maximum loan amounts offered by each deal, as this will play a role in your decision making. When you have found the most suitable loan offer just contact our friendly team of experts who will answer all of your questions, help you with your application, get pre approval from the lender, and if required arrange for a valuation of your home whilst keeping you up to date throughout the approval process until completion.

It is still possible to get a secured loan when you are self-employed. This will be dependent on your personal circumstances and each lenders’ criteria. Our team can advise you as to the exact requirements when you call us.

At Secured Loan Expert all types of credit history are considered. The decision to lend is subject to individual lender criteria and your personal circumstances. Our expert team can provide you with more information if this is the case.

No. The only note on your credit file that will exist when you make an initial enquiry will be a Quotation Search which will only be visible to you and not by other searchers.

When you make a full application then a full search will be undertaken which will show up on your file at that stage. This will be visible to other lenders.

While this process is a lot shorter than a mortgage or re-mortgage application, the exact length of time from application to you receiving the funds depends on the amount of the loan required, the loan amount to the asset value, the lender chosen and your individual circumstances.

Once the loan is approved by the lender, they will transfer the money to you typically within 48 hours if electronic transfer is the payment method.

There are no upfront fees to pay.

All fees and charges that you have to pay to take out a loan will be fully detailed to you before you make any decision to go ahead.

If you have any questions at this point just call our friendly team who will be happy to help you understand what fees may be charged.

By Michelle Tuvey.

Loan Underwriter

A debt consolidation home loan can be a very useful tool for eliminating debt and managing your monthly budget. The key to doing so effectively is finding a loan that is right for your circumstances. Needless to say, there are lots of products out there, some good and some bad. Your task is to learn as much as you can about the debt consolidation process so you can make a wise decision.

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The first thing to understand is what debt consolidation is all about. When you borrow money, be it a personal loan or a car loan for example, you are spending additional money for that privilege. Banks and building societies make their money by charging you interest; they also charge certain fees to cover their costs of administration. When you repay a loan, you are repaying three things:

  1. principal (the amount you borrowed)
  2. interest (the lender's profit)
  3. fees and charges (the lender's administrative costs).

All three things together make up the total cost of borrowing. The idea behind debt consolidation is to lower that cost as much as possible. We recommend consumers do this by taking advantage of debt consolidation home equity loans.

Consolidating with Equity

Using your home for debt consolidation involves taking advantage of equity. If you are unfamiliar with the principle of equity, it is nothing more than the difference between how much you still owe on your mortgage and the current retail value of your property. Lenders will let you borrow money based on your total equity and their loan-to-value (LTV) ratio.

The benefit of using equity to consolidate your debts is that it allows you to use your property as a financing tool. By offering your home as collateral for a secured loan, you can borrow tens of thousands of pounds for up to 25 years. Moreover, because the loans are secured by your property, interest rates tend to be substantially lower than what you get from personal loans and credit cards. This is how you save money.

Compare Loan Products

The next thing to understand about secured loans for debt consolidation is the concept of comparing. Just as you might compare car insurance or energy providers, you should also be comparing secured loan products from different lenders. Comparing allows you to see benchmark numbers indicating which lenders are most attractive.

Secured Loan Expert makes it easy to compare by showing you multiple loan products side-by-side from our whole of market panel of top UK lenders. Keep in mind that the advertised numbers you find are only estimates based on normal circumstances. There is no way to know what the final details of the deal you will be offered until you actually apply.

The two most important numbers when you are comparing are representative APR and LTV ratio. The representative APR is a combination of the standard APR and all of the known charges and fees associated with borrowing. The LTV ratio is the percentage of your equity that the lender is willing to loan you. These two benchmarks will help you create a short list of possible lenders.

With a short list in hand, the next step is to call our friendly team of secured loan experts who will provide their expert advice and guidance to ensure you pick the best loan deal to suit your individual circumstances before you proceed with any application. Our advice is always free and without obligation.

You don't have to continue struggling under the weight of high interest debt if you own a home with equity. You can take out a debt consolidation home loan that will enable you to combine all of those high interest debts into a single, affordable secured loan. This is a great way to improve your financial circumstances and take some of the stress off your budget.

Call Us For FREE Expert Advice and the Latest Rates.

We source the best rates from the whole market

  • Borrow up to £2,500,000 Depending on the Equity in Your House.
  • Adjustable Repayment Terms from 3 to 30 years.
  • Secured Loans Can Be Used for Almost any Purpose.
  • Low Interest Rates.
  • Rapid Approval - Low Arrangement Fees.
  • Options for Homeowners with Bad Credit History.
We Will Find You the Best Secured Loan to Suit Your Individual Needs.

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