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Consolidate Debt with a Secured Loan

A secured loan, often known as a “homeowner loan” or “second charge mortgage”, is a great option for people looking to consolidate debt. It’s also good for other things like home improvements, investments or even aspirational borrowing such as a wedding, a holiday or purchasing a car

The above is feedback from our client in the case study
The above is feedback from our client in the case study

How do secure loans work?

Lenders are more inclined to offer larger sums on secured loans because your home serves as collateral, hence the term "homeowner loans." These loans often allow for extended repayment periods, resulting in lower monthly instalments compared to short-term loans, easing monthly expenses. However, it's essential to note that the total loan cost may be higher over time. Additionally, lenders tend to have more flexible credit requirements for these loans due to the security provided by your property. This makes it easier for individuals with bad credit to qualify for a homeowner loan.

 

Case Study

Last month we reduced a client's monthly expenses by nearly £400 while enabling him to complete much-needed home renovations. Samik needed approximately £30,000 to update his kitchen and bathroom, refresh his interior decor, and consolidate credit card debt. We achieved this through a secured loan, preserving his excellent rate on his first-charge mortgage, fixed until 2027.

 

In conclusion, secured loans offer a viable financial solution for those needing substantial funds and who have the collateral to back them up. Understanding the workings, advantages, and risks of secured loans can help you make informed decisions and manage your finances effectively.

 

To find out more about how a secured loan could help you, get in touch with us




 
 
 

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EZRA  FINANCE LIMITED. COMPANY REG: 14439990. REGISTERED OFFICE: F39, Meanwhile House, Curran Embankment, Cardiff, CF10 5DY

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Ezra Finance is the trading name to Ezra Finance Limited is registered with the Data Protection Act registration No. 1013826 and is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1013826 an Appointed Representative of TMG Direct Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 786245 and registered with the Data Protection Act Registration No: ZB507725.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The overall cost for comparison is 4.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

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We may receive commission that will vary depending on the lender, product or permissible factors, The nature of any commission model will be confirmed to you before you proceed. Ezra Finance Ltd are a credit broker, not a lender.

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