Secured loans are similar to mortgages: they are secured on your property and your home is at risk if you do not keep up the repayments you have agreed.
If your current mortgage carries a redemption penalty which would make a re-mortgage unrealistically expensive a secured loan may be an alternative solution.
If your mortgage is on a particularly good rate which you would lose because of problems with recent adverse credit problems if you re-mortgaged then a secured loan can be a simple way to release money from your house.
If your credit rating has become poor through problems with your unsecured debts it may be possible to raise a loan by offering your home as security. However a credit check will still be undertaken and serious adverse credit information or missed mortgage payments will affect you ability to get a secured loan.
If a secured loan is your preferred option to resolve your debt problems then the IVA Help centre will be glad to put you in touch with a specialist secured loan brokerage.
