A secured loan is a loan that is secured against your property, meaning you can usually borrow more at a lower rate.

Using a secured loan to consolidate debt

If you have a build-up of debt from several different lenders and you own a property, a homeowner loan could help you turn things around a lot quicker than you think. Consolidating debt into a homeowner loan could help to:

  1. Reduce your monthly outgoings
  2. Reduce the overall interest rate on your debt
  3. Consolidate your payments into just one monthly payment
  4. Improve your credit score
  5. A homeowner loan can be useful if you owe a large amount or you have poor credit and are finding it hard to get approval for a personal loan that’s large enough to repay the existing loans and credit.

How can a secured loan reduce your monthly repayments?

If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments. Because a Secured Loan is secured against your property lenders are able to be more lenient when it comes to poor credit scores. If you’re thinking of using a secured loan to consolidate debt, our advisers can help you every step of the way.

How we can help?

We have a dedicated team who deal with Secured loans meaning they have a wealth of experience when it comes to finding a loan for whatever you need.

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