Low Cost Any Purpose Secured Debt Consolidation 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 Michelle Tuvey.

Loan Underwriter

If you are struggling under a mountain of high interest debt, you may be able to find some relief by way of a secured loan obtained against the equity in your home. Secured debt consolidation loans are usually low cost loans that are fast and reasonably easy to acquire. Obtaining such a loan could make it possible for you to consolidate all of your payments into a single monthly payment that is more in line with your budget.

Secured Loan Expert can help you find the most attractive loan for your circumstances. We specialise in secured loans offered by the best banks, building societies and specialist lenders in the UK. As long as you own a home with decent equity, finding a loan that works for you should be fairly straightforward.

Secured and Unsecured Debt

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Why should you consider a secured loan for debt consolidation? To answer that question, it is helpful to understand the difference between secured and unsecured debt. A secured debt, like one of the loans we are talking about here, gets its name from the fact that collateral is being offered by the borrower to secure, or guarantee, payment. A home is usually the collateral offered on a secured loan for debt consolidation.

Unsecured debt is that which you obtain simply on your promise to repay. There is nothing held or offered in security as a guarantee of payment. The most common form of unsecured debt in the UK is the credit card. Your bank or credit card company extended a line of credit to you based solely on the fact that you promised you would make good on your debts.

Unsecured debt incurs a higher interest rate because the lender is taking a higher risk. That is why you may be paying upwards of 12% or more on a credit card. Secured debt is just the opposite. A bank might offer a secured loan at just 5% because they always have the option of repossessing and selling your home in the event of default.

Consolidating and Lower Rates

It should be clear as to why someone would be better off consolidating high-interest unsecured debt into a low-cost secured loan. For the purposes of debt consolidation secured loans can cut interest rates drastically and reduce monthly payments at the same time. Not only does this help the monthly budget, it also reduces the total amount the borrower repays over the life of the debt.

For purposes of illustration, let us just say you owe £100 each on two unsecured loans at 12%. If you paid off both loans in one year, the combined principal and interest would total £224. If you combined both loans into a secured loan at 5%, the total amount paid at the end of the year would equal £210. You would save £14 by consolidating the higher interest debts into a low-cost secured loan.

Think about it. If you could save £14 on a very small one-year loan, imagine how much you could save on a 25-year loan of tens of thousands of pounds. That's a lot of interest saved just by consolidating outstanding debt into a single, secured loan at a lower rate.

Bad Credit Okay

It is not uncommon for consumers to end up with bad credit after taking on too much unsecured debt. Lenders understand that. Your bad credit is okay as long as you have a home with a decent amount of equity. Again, lenders are willing to take a risk because you are securing a loan with your home.

You should consider the option of secured debt consolidation loans if you find yourself overwhelmed by high interest debt. A consolidation loan can lower your monthly payment, reduce the total amount you will pay and help you begin the process of repairing a poor credit rating. There are very few downsides to this sort of consumer financing.

To get our free expert advice all you need do is call our friendly team for a confidential discussion regarding your requirements and we will do the rest. Our team will find the best deals that suit your personal circumstances from our whole of market panel of lenders. We will help you compare and chose the best offer available and submit a fully optimised application on your behalf that will show your case in the best possible light.

Our team are totally transparent in their dealing and you will be informed of all costs attached to the loan before you make any decision to go ahead with an application. For professional help and advice call our friendly team of experts today.

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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