Availability of Bad Credit Secured Loans

The credit crunch has removed lender appetite to offer bad credit secured loans. This is a real problem as the demand from consumers remains strong and there are few providers willing to offer reliable, affordable, funding solutions.

A secured loan in the past has been an ideal solution for those with credit problems. It would mean you taking the risk by securing the debt against your home and the provider, for a slightly higher interest rate, being able to offer you the capital required to consolidate debts, improve your home, etc although, provided it is legal, there are no real barriers on the use of this money.

Historically bad credit secured loans are for larger loan amounts, £15,000 to £100,000 and over extended repayment terms so that the borrowing is affordable. Please remember that extending the repayment term of any debt will likely increase the interest that you pay!

The appetite from lenders has certainly not started a full scale recovery, however, for those with equity in their home and a requirement for reliable funding we should be able to help point you in the right direction.

If you are considering a bad credit secured loan please consider these qualifications:

• You a UK resident and over 18 years of age
• You have a regular income paid into a UK bank account
• You own your home and have sufficient equity to borrow against

If you are unsure on anything or simply require some initial figures please get in touch today.

---

Disclaimer: Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Loanz.co.uk are licenced credit brokers with licence number 584328 issued by the Office of Fair Trading. Loanz.co.uk is a trading style of CML Web Services Ltd. Registered in Scotland. No: SC291366

---