Choosing the Best Debt Consolidation Loan for Home Owners

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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 Adam Brand.

Operations Director

Consolidating your debt through a secured loan is one option for alleviating some of the stress on your monthly budget. Secured loans tend to be cheaper and more affordable than personal loans, credit cards, car loans, etc. So consolidating can mean cheaper monthly payments. The secret is to shop around for the best debt consolidation loan for home owner financing.

Secured Loan Expert wants to help you find the right consolidation loan for your individual circumstances. We can show you side-by-side comparisons from some of the biggest names in consumer lending. We have also put together a library of helpful information in plain English within the site that you can use as a guide for navigating the complexities of secured loans.

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Deciding Which Loan Is Right

Once you begin comparing homeowner consolidation loans, you will quickly discover there are many choices. So how do you know which one is right for you? It comes down to understanding the basics of secured loans and how those principles apply to your circumstances. Here are the most important things for you to consider:

  • Representative APR – The representative APR is more than just the annual interest that you pay on a loan. It is a combination of interest and all of the upfront charges you incur for the privilege of borrowing. Although the representative APR is just an estimate, it is a good benchmark that represents the total cost of borrowing.
  • LTV Ratio – Banks use what is known as a loan-to-value (LTV) ratio to determine how much you can borrow. Whatever the number, it represents a percentage of the equity in your home they are willing to lend. Therefore, an LTV ratio of 75% would allow you to borrow £60,000 against equity of £80,000.
  • Maximum Loan Amount – Banks and building societies usually advertise minimum and maximum loan amounts. This may be important to you. There is no point in applying with a bank if their maximum loan amount is not enough to consolidate all of your high interest debt.
  • Loan Terms – The loan term is the amount of time you have to repay your secured loan. A longer-term will result in lower monthly payments, but you will also pay more interest over the long haul. Try to balance comfortable monthly payments with minimum interest amounts when deciding on the best terms.

Considering all of these factors in light of your personal financial circumstances should help you put together a list of lenders you are willing to work with. Then it is a matter of contacting our team of expert advisors who will help ensure you are choosing the best deal possible before you go ahead and apply. Only after all of your questions are fully satisfied will our experts make the application for your secured loan. They understand the unique requirements of each individual lender and will make sure that your application is received in the best possible light.

The goal is to get a loan that is as cheap as possible. By 'cheap’, we mean a loan with the lowest possible interest rate and the fewest fees and charges. There is no point in paying more than you have to to borrow. Likewise, debt consolidation might not be worthwhile if you cannot obtain a secured loan that is cheap enough.

Consolidate and Save

Never forget that the point of debt consolidation is to save you money. Do not take on a secured loan if you are not saving. What's more, do not consolidate your debt without changing the spending habits that resulted in the need for consolidation. Otherwise, you could find yourself in trouble that is more serious than when you started.

There are plenty of lenders willing to provide a debt consolidation loan for home owner financing. Our teams will help you to compare multiple lenders and loan products side-by-side before making a decision. Used properly, this sort of consumer financing allows you to take advantage of the equity in your home to eliminate high interest debt. In so doing, you will be improving your short and long-term financial positions.

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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