Secured Debt Consolidation

Juggling several payments from multiple loans and credit cards can be a lot of work, and in some cases may end up costing you more overall.

Securing these debts against your property might be the right option for you. By combining your debts into one secured consolidation loan, you can easily track your single monthly payment – and in some cases save money.

Clever Mortgages specialise in helping customers in debt find the ideal solution for them. Some of these deals aren’t even available directly to the public.

We help customers with multiple debts obtain the best secured debt consolidation loans available for them. We know the lenders that will say, YES

Consolidate debt with Clever Mortgages and we could:

Find the right loan for your individual situation; even if you are self-employed
Have your benefits considered
Find a suitable way to consolidate; even if you have a bad credit history

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  June 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.

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

Previous Mortgage

Balance£61,000
Payment£490
Rate1.25%
Term12 Years

Previous Secured Loan

Balance£43,000
Payment£436
Rate10%
Term12 Years

Previous Unsecured Debts

Balance£44,320
Payment£657
RateVarious
Term13 Years

New Mortgage

Balance£150,000
Payment£1097.67
Rate2.10%
Term13 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 should I do next?

Enquire Below

We will have a brief chat about what you need

We will find the best option that suits your needs

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.
    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 can add up to thousands of pounds each year depending on your circumstances.

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

What you should consider before consolidating your debt

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.

6 Great Reasons To Choose Clever Mortgages

Specialists in bad credit

We have helped 1000’s of people with bad credit. All our advisors are trained on securing mortgages for clients with bad credit. In short, we know this market.

Over 100 lenders

We are a broker that has carefully selected over 100 lenders in all sectors. Which means you get access to a wide range of deals, including those from niche lenders.

Not every case is the same

We understand every case is different, and every customer has a different requirement, whether it’s debt consolidation, freeing up capital, or simply saving money, we look at every situation to help you

Access To Exclusive Rates

With access to every adverse friendly lender, we can often secure you exclusive rates you won’t find on the high street.

First Class Support

Our experienced admin team are always on hand to answer your questions and keep you updated throughout.  So you’ll always know what’s happening.

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