The lender will let you borrow an amount of money which will depend on the value of your house, your mortgage balance and your personal financial history. You make repayments over an agreed period of time, and at the end of the term, the loan is repaid.

** to find out the cost of a
debt consolidation secured loan - click here **

Example of a debt consolidation loan

The following is an example of how a secured loan works.

Mr and Mrs A have debts on credit cards and store cards of £10,000. They are making the minimum monthly payments of around £300 per month.  They notice that the balance is not reducing much and work out that if they continue making the minimum payments, the debt will not be repaid for around 40 years! And the interest rates they are paying are quite high - credit and store card rates are usually between 15% and 25% APR.

They have a chequered credit history - problems arose when Mr A was made redundant some years ago and was out of work for several months. Recently they have managed to keep up with their payments,  but things are tight.

They own a property worth £100,000 and they have a £60,000 mortgage. This means they have £40,000 equity in the property.

They contact us and we search the lenders for the best debt consolidation loan for their circumstances.

They take out a loan for £10,000, secured on their house, over a 10 year term. The payments on the new loan are £131.60 per month*, saving them over £150 a month, and reducing the number of years they would have been paying dramatically.

Contact us and we will give you a quote. Remember, there is no obligation on your part. Complete the contact form, or call us on 0800 848 8011

  What are the payments?

This website gives you the opportunity to find out exactly how much you could save, dependant on your individual circumstances.

For a specific quote for your own circumstances, click  personal quotation. We will normally be able to get back to you within 24 hours. Remember you are not under any obligation to accept any terms offered to you.

* Depending on your personal financial status. Example APR 9.9%. 120 monthly payments, total payable £15,792.00. Note that the figures shown are for illustration purposes only: actual rates offered will depend on your circumstances and loan amount.
 

Our Promise

As a company, we only get paid if we successfully get your loan paid out. We will endeavour to find the most suitable loan for your individual circumstances, and we will do everything we can to get your debt consolidation loan paid out as quickly as possible.
Click here for a personal quotation