FAQs

Questions

Secured Lending

1. What is a secured loan?
2. What would I use my Secured Loan for?
3. What is a Remortgage?
4. Will I be accepted with a Poor Credit History?
5. How do I apply?

 

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Answers

Secured Lending

1. What is a secured loan?

   A secured loan is a loan which is secured against your assets, this is most commonly your home. The benefits of a secured loan over an unsecured loan is that you can borrow larger amounts over a longer period of time, and with better interest rates.

2. What would I use my Secured Loan for?

   Most of our clients have chosen a secured loan for debt consolidation purposes. The new loan will pay off your existing unsecured debt and replace it with one loan. But we will not place any restrictions on what you can or cannot do with your loan.

3. What is a Remortgage?

   A remortgage means that you are getting a new mortgage deal without moving home. The new mortgage will pay off your old one as well as release equity which you might use to repay unsecured debt.

4. Will I be accepted with a Poor Credit History?

   Just because you have a poor credit history does not mean that you will be unable to get accepted for a loan. Even if you have been turned down in the past we can help you get accepted for a loan to improve your financial difficulties.

5. How do I apply?

   To apply for one of our secured lending options you need to speak with one of our expert loan advisors. To do so please feel free to call on 0808 131 9112 or fill in the Quick Enquiry form. 

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)