Improve Your Rating with Debt Consolidation Secured Loans

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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 Melinda (Milli) Haine.

Loan Underwriter

Do you have poor credit? Is a less-than-favourable credit rating preventing you from managing your finances the way you want to? If you answered 'yes' to either question, we might be able to help. Secured Loan Expert can help you compare and obtain debt consolidation secured loans that you can use to revive your credit rating and lower your monthly payments.

Debt consolidation is a tool consumers use to bring high interest debt under control. Doing so makes it easier to maintain the monthly budget so that bills can be paid on time. Over the long run, this improves credit by demonstrating consumer responsibility and reducing the total amount owed.

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Having said that, a debt consolidation secured loan could come back to haunt you if you fail to control your spending. To explain what we mean, let us use the example of credit card debt. This is a good example given the fact that many consumers use consolidation loans to pay off credit cards.

Right and Wrong Way

The right way to apply debt consolidation to credit cards is to combine all of your credit card accounts into a single, secured loan. As soon as the money from the secured loan is deposited into a bank account, the consumer immediately pays off all his or her outstanding credit card debt. He or she then cancels those credit cards or creates some means of control so that they are not abused again in the future.

The wrong way to do this is to obtain a secured loan without changing the way credit cards are used. It is far too tempting to see a zero balance on a credit card and be motivated to start spending recklessly again. This could lead to real trouble. Without changing your spending habits, you could find yourself running up thousands of pounds in new credit card debt that has to be repaid alongside the debt consolidation loan you took out earlier.

The fact that a consumer is looking at a debt consolidation loan suggests a lack of spending controls. In order to prevent yourself from getting into deeper trouble, it is imperative that you solve those spending habit problems before you take out another loan. Why? Continue reading to find out.

Your Home as Collateral

The typical debt consolidation loan issued in the UK is based on the equity in the borrower's home. The borrower secures the loan by offering his or her home as collateral for the debt. Should he or she default on the loan, the lender can repossess and sell the property to recover the debt. This is why it is so important to change your spending habits if you are planning to get a secured loan.

Having said all that, consolidating your high interest debts with a secured loan offers many advantages. Obtaining a secured loan usually results in:

  • a better interest rate than you're paying now
  • a single monthly payment lower than that you're currently paying
  • easy repayment terms that can fit into any budget
  • a favourable influence on your credit history after paying off high interest debt.

As you can see, the benefits of debt consolidation with a secured loan are significant. With the proper financial discipline in place, the benefits far outweigh the risks of secured borrowing. You can use a secured loan to revive poor credit simply by paying off your old debts and being faithful to making your new loan payments on time.

To find out how much you are eligible to borrow, calculate the equity in your home and then compare it to the loan-to-value (LTV) ratios offered by lenders. A few simple calculations will help you figure out a good estimate of your borrowing power.

If you are ready to get control of your debt problems, our team of Secured Loan Experts can help you compare and obtain debt consolidation secured loans that could drastically change your financial future. Let us help you make the most of the equity in your home through a secured loan. Our Help, advice and expertise are freely available for you to utilise with no obligation on your part. If you do decide to go ahead our experts will advise you fully of any costs before you make a commitment and use their knowledge of individual lenders to ensure your application is presented to your chosen lender in the most favourable manner. 

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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