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| Consolidation Loans |
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| We arrange loans for everybody, regardless of past circumstances. We are specialists in helping those declined elsewhere due to past credit difficulties such as CCJs, defaults and arrears. Whatever your circumstances and even if you have a less than perfect credit history, we can still help! |
| We can arrange Unsecured Loans for Tenants from £250 to £15,000 and Homeowner Loans from £500 to £25,000. |
| Secured Loans |
| A secured loan, or a homeowner loan, is different from an unsecured loan, as the borrower needs to provide the lender with a form of security. An item such as a car or a property is used as security for the loan and the lender holds the rights to the article until the borrower repays the loan. |
| ...ADVANTAGES OF A SECURED LOAN |
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It is an effective way for homeowners to obtain money at an affordable rate. |
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You are able to consolidate all other debt, and only make ONE monthly payment. |
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You can usually borrow a larger amount of money through a secured loan. |
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The repayment period may be longer than with an unsecured loan. It could be up to 25, or even 30 years. You have flexible repayment options, and can choose to repay it over any period between 5 and 25 years. |
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People with an adverse credit listing can still qualify, though their interest rate may be higher than the standard |
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You can decide how you want to use the money. |
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| ... AND POSSIBLE DISADVANTAGES |
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You could possibly stay in debt for a long time. Opt for the shortest period over which you can repay the loan. |
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You need some sort of asset to use as security for these loans. This might not be an option for those without a home or a vehicle. |
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Make sure that you can afford your secured loan as failure to make your payments may put your home (or other asset) at risk. |
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| Adverse Credit Secure Loan |
Be rest assured that you are not the only one with a bad credit rating and the demand for adverse credit secured loans is rising. Nobody is immune to the detrimental affects of a bad credit history; it could happen to anyone. Perhaps you fell ill and missed a couple of credit card payments, got into mortgage arrears, or had a CCJ issued against you. Or perhaps you’re in a position where you find it difficult to improve your income. |
Your financial circumstances change and you may need to apply for credit somewhere along the line. You may have a slight problem when applying for credit, as most lenders will want to be satisfied you can afford the monthly loan repayments. |
However, credit solutions are available to you as homeowners can use the equity in their home to apply for an adverse credit secure loan. Most lenders now realise that an adverse credit score may not always be the best way of determining a future borrower’s creditworthiness. |
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