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									Secured Loans

Written by Administrator
Tuesday, 23 March 2010 13:04 - Last Updated Saturday, 03 April 2010 09:06

Secured Debt consolidation loans

    Low APR’s
    Terms From 3 to 25 years
    No Proof Of Income
    Fully Qualified Advisors
    One Low Ronthly Repayment
    CCJ’s Defaults Arrears Accept

Secured Debt consolidation loans are typically available from around £5000 upwards and over
3year to 25 years. In contrast to an unsecured loan, a secured loan can only be obtained from a
lender by a borrower if they have their own home with enough free equity to offer as security. A
secured loan is seen by lenders as being a much lower risk option for them than its unsecured
cousin since the borrower agrees to guarantee the repayments by putting their primary asset at
risk if the monthly repayment schedule is not maintained.


A secured loan can in some cases be for amounts up to £100000 (you have course have
sufficient free equity within your property to offer) and can be for a much longer repayment
period than would be typical for an unsecured loan as mentioned above terms of up to 25 years
are not uncommon. As the risk to the lender is higher, an unsecured loan is usually more
expensive than a secured loan.


The idea of a debt consolidation loan is that you use the money to clear all of your other
borrowings such as credit and store cards HP and more expensive unsecured loans. If the APR
on the consolidated loan is less than that for the debts, you intend to clear and this usually is the
case, and this usually is the case then you will save money by having a debt consolidation loan.
A debt consolidation loan does not reduce the amount that you owe to your creditors, but it does
help spread and reduce the costs of servicing your debt each and every month. Consequently,
a debt consolidation loan can be a very valuable tool to help you get your finances under control

Secured Loans

Written by Administrator
Tuesday, 23 March 2010 13:04 - Last Updated Saturday, 03 April 2010 09:06

and become debt free in the shortest possible time.

Remember, if you have some debts with a lower APR than debt consolidation loan, i.e. a
student loan which is pegged to the UK inflation rate, it makes sense to leave that alone. As
with any financial service, it is always a good idea to shop around to find the best debt
consolidation loan you can find. The highly qualified loan advisors at The Credit Wizard can do
this for you, you see we have access to all the major high street banks and finance houses, plus
many others who you may never have heard off but have some great deals available.

Using a debt consolidation loan on your outstanding debts can relieve the financial pressure you
might find yourself under and enable you to maintain and rebuild your credit rating. A large
number of financially astute consumers are taking a more proactive role in their financial
management by consolidating their debts to minimize interest payments - a trend that is
becoming more popular, such as remortgaging to achieve a lower interest rate. This trend is
only likely to increase as recession bites in the UK. We at The Credit Wizard can also negotiate
with your creditors to get reduced settlement figures by leveraging the power of the cash from
your loan.
Of course, you don’t have to be in financial difficulty before a debt consolidation loan can be of
use to you. It would be useful for even the most stable and comfortable amongst us to check to
see if a debt consolidation loan would make a significant reduction in monthly expenditure o
coin a phrase: Why pay more than you need to?


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