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
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.
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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