Sometimes a Debts Management Plan or an IVA is not your best debt solution to your debt problem. Debts Management may be able to offer you one of our secured lending opportunities which might be more suitable.

What is Secured Lending?

Secured lending can allow the debtor to consolidate their unsecured debts into a secured loan. This may often most suitable for those who have equity in their home, can afford to make the new secured loan payment and want to take advantage of a potentially lower interest rate.

Secured Lending Benefits

Benefits of Secured Lending, in comparison with alternative debt solutions, could include:

• Lower monthly payments
• Payments are more affordable to you
• One single payment which is easier to manage
• Often a better interest rate than with an unsecured loan

Secured Lending Implications

You should be aware that as well as any benefits of Secured Lending, there can be some implications which must be noted. These include:

• Not everyone is suitable for secured lending
• Longer time to clear your debts
• Risk that spending may continue on the consolidated debt.

Debts Management Services

Secured lending services which Debts Management can offer you advice on, include:

• Secured Loans – A Secured Loan is otherwise known as a homeowner loan, and is secured against an asset of value. It is normally most suited to homeowners who have equity in their property.
• Remortgages – A Remortgage can be a great way to consolidate your unsecured debt or raise additional funds using the equity in your home.
• Consolidation Loans – Consolidation Loans are often secured against an asset. They are used to clear high-interest unsecured debt, such as store cards, overdrafts and credit cards.

Each section seeks to provide you with the basic information about each product area, such as who they are suitable for, how they work to help you with your debts problems and any benefits and implications.

For advice and information about secured lending or other debt solutions, contact Debts Management today on 0800 0481 777 or fill out the QuickEnquiry for a free callback.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

For mortgages and re-mortgages the overall cost for comparison is 5.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.

If you are looking for a way to manage your debts, a Secured Debt Consolidation Loan could help.

A Debt Consolidation Loan can reduce your monthly payments to your unsecured debt by consolidating your existing unsecured debt and replace it with a secured loan. This should reduce the amount that you have to pay out to your debts, and having one lower monthly payment may make your finances much easier to control.

Still considering your options? Fill out the Quick enquiry Form now for a free callback and to  see what debt solutions are available for you.

Alternative Ways to Manage Your Debts

A Debt consolidation Loan is really only best suited to those who have equity in their property and feel confident that they can meet the payment commitment of the new loan. If you feel as though a Debt Consolidation Loan is not the answer to your debts problems, Debts Management can still help find a debt solution for you.

We can offer you advice on how to manage your debts with the help of a Debt Management Plan or IVA. Both of these should reduce your monthly payments to unsecured creditors which should give you greater control over your finances.

An IVA can come with many additional benefits; it offers a certain amount of debt write off so you only pay back what you can afford. It is a fixed payment plan so you pay monthly payments over an average period of 60 months, and then you can be debt free after your IVA has been completed.

No matter what your debt problems, Debts Management have helped people in a similar situation to you, and our experience means that we will be able to find a debt solution to suit your needs.

For advice and information about help to manage your debt through consolidation, call us free on 0800 0481 777.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

For mortgages and re-mortgages the overall cost for comparison is 5.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.