Self-Cert Loans - Expert Advice
Poor Credit Secured Loan?
You can apply for a secured loan providing that you are currently a homeowner and paying a mortgage.
In most cases it is easier if the value of your home is larger than the outstanding balance on your mortgage.
However, even in some cases, lenders will conisder lending more than the existing loan-to-value figure if you don't have enough equity.
Having a poor credit history does in no way mean that you will not be able to obtain a secured loan.
Even if you have been declined for unsecured credit or even secured credit elsewhere with more strict (Prime) lenders, you should still be able to successfully apply for the loan you desire
Lenders are far more willing to offer secured finance because there is less risk involved. To put it bluntly, even if you do fall far behind, they will still be able to reclaim the funds. As the loan company has added security things like mortgage arrears, County Court Judgements (CCJs), defaults, IVAs, bankruptices and other issues, such as having no proof of income
are not as serious.
Rates from 7.4% APR variable to 14.0% APR variable MOST customers pay 10.9% APR typical variable or less