Debt Consolidation & Homeowner Loans

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Debt Consolidation & Homeowner Loans

Even if you have bad credit, you could still get a great deal on a remortgage or a debt consolidation loan.

Getting your finance in place could be easier than you might think – especially when you choose Clever Mortgages: our experts know how to save you money.

Get your mortgage with Clever Mortgages and we could:

  • Save you money every month by consolidating your debts
  • Take years off the term of your mortgage
  • Help find a secured loan that’s right for you Help you to get back on track

Even if you’re in a current fixed rate, we could still get you on a better deal:

Our customers, Mr and Mrs B saved almost £500 every month. With Clever Mortgages, they were able to:

  • Get a debt consolidation remortgage, even with a poor credit history
  • Get out of their current lifetime tracker mortgage and onto a better deal
  • Secure a fixed rate of 2.10%
  • Save almost £500 each month on mortgage and debt repayments
  • Get on the right track to rebuilding their credit score

BalancePaymentRateTerm
Current Mortgage£61,000£4901.25%12 Years
Current Secured Loan£43,000£43610%12 Years
Unsecured debts£44,320£657VariousVarious
New Mortgage£150,00£1097.672.10%13 Years

Completed 17/06/2019

Mr B had been in an IVA, which he’d now completed, and Mrs B was currently in a Debt Management Plan. They wanted to consolidate their secured loan, plus three other debts, into a new mortgage product – hoping that this would bring down their monthly repayments.

At Clever Mortgages we were pleased to be able to help them, and we secured them a new mortgage which is now saving them a significant £485 every month! This is making a real difference to their lives, and helping them get back on track, improving their credit score.

What is a remortgage?

A remortgage is when you take out another mortgage on your home to replace your current mortgage, or to borrow extra money against your property. Even if you’re currently in a fixed rate agreement, we might still be able to help. You’ll need to check the terms of your contract though, to make sure you aren’t charged any early exit fees.

You would remortgage a property to either raise or save money:

  • Raise money
    You can raise money by releasing equity in your home and taking out a new mortgage that is larger than your existing one. You could do this to consolidate debts, make home improvements, or fund something else in your life.
  • Save money
    You could save money by remortgaging and switching to a cheaper mortgage provider – making your monthly payments smaller each month.

What is a secured loan?

This is where an asset – usually a house – is used as equity against the loan. Often secured loans are of interest to people with a less than perfect credit rating, as they can sometimes find it hard to access finance without providing this extra level of security to the lender.

  • They’re available for much larger amounts than personal loans, which generally only go up to about £25,000
  • You could use this larger amount to consolidate all of your loans, mail orders, and credit cards into one
  • If you have a bad credit history, you may find that you have no choice but to opt for a secured rather than a personal loan. We have access to secured loans for people with bad credit, through Clever Lending
  • The repayment periods on secured loans can be longer, while the fixed monthly payments should make it easy to manage your repayment plan

As your mortgage is likely to be your largest debt, it makes sense that improving on it can also give you the largest saving – a saving that could add up to thousands of pounds each year depending on your circumstances.

Why should I use a mortgage broker?

  • You’re likely to only have to do one application – this will save you time, and more applications from being recorded on your credit file
  • Some mortgages especially for people with bad credit are only available if you go through a mortgage broker
  • Brokers can advise on what would improve your chances – e.g. finding a guarantor or opting for a joint mortgage
  • They can take the hassle of application forms away – talking you through every step, and asking all the right questions

What should I do next?

  • Enquire online with us today
  • One of our experts will call for a chat to find out more about what you’re looking for
  • We do all the hard work for you – we’ll find the right deal for you

Our expert will keep you informed of progress, all the way to completion

As your mortgage is likely to be your largest debt, it makes sense that improving on it can also give you the largest saving – a saving that could add up to thousands of pounds each year depending on your circumstances.

We help customers just like you every day to find a remortgage or a secured loan that saves them cash and helps them to take control of their finances. We can help customers who are:

  • Wanting to remortgage
  • Looking for a secured / home-owner loan
  • In bad credit

Its hassle- free and easier than you think.

Understanding credit scores when applying for a secured loan or remortgage

All lenders look at information on your credit report such as:

  • Whether you’ve made late payments for bills and loans
  • Any details of debt management plans you have taken out
  • Other details, such as any financial connections with others you’ve had – for instance partners you’ve held joint accounts with
  • The most recent information will be deemed the most important. Details around debt and credit are usually erased within six years.

Credit scores are important – but whatever your situation, we might be able to help – just get in touch and let’s see how we could help.

As your mortgage is likely to be your largest debt, it makes sense that improving on it can also give you the largest saving – a saving that could add up to thousands of pounds each year depending on your circumstances.

6 reasons to choose clever

Specialists in bad credit

Every member of our team is trained in bad credit situations and know how to find the right solutions for customers – helping them get the mortgage that’ll get them back on track.

Over 100 lenders

The number and quality of lenders we work with means we have access to a diverse spectrum of best-rate deals. The lenders we use means we have all areas covered – even for those in particularly niche circumstances.

Not every case is the same

As each customer’s situation is unique, we take the time to understand your situation, and we carefully assess your goals and how we’ll make sure the mortgage we get helps you to achieve them.

Access To Exclusive Rates

The relationship we have with our lenders means we have access to products and deals that simply aren’t available to customers going direct. This is true particularly for those in adverse credit situations.

Offering the best support

We know that buying, moving house or remortgaging can be stressful, so we do our upmost to make the process as hassle-free as possible. We’re there for you at every step, always keeping you in the loop.

Excellent Reviews

We’re proud of our long-standing 5 Star Rating on Trust Pilot, and love all the positive feedback we get from customers every day. We feel privileged to help people get a great deal with far less stress.

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* Debt consolidation is a good solution for some mortgage customers – however, it’s not suitable for everyone. You should always review the total amount payable through consolidation, not just the immediate savings in terms of a reduced monthly payment.

Please be aware that any unsecured debts consolidated within the mortgage, would then be secured against your property.