Want to use your home to raise money at a competitive APR?

Debt consolidation, home improvement

Now You Can Get a Bad Credit Secured Homeowner Loan Whether You Have a CCJ, Default, IVA, Arrears, Repossession or Bankruptcy

Do you have a less than perfect credit history? Are you looking for a homeowner loan?

If so, you may be struggling to obtain the cash you need. Lenders are increasingly choosy about who they lend to and underwriting criteria have become much stricter over recent years.

However, there are plenty of people in the same position as you. According to Credit Action, Citizens Advice Bureaus deal with 9,000 new debt problems every day in England and Wales. 381 people will be declared insolvent or bankrupt every day of the year and 1,359 Consumer County Court Judgements (CCJs) were issued every day during the second quarter of 2010.

These figures show that there are plenty of people out there who have experienced the same credit problems as you. However, help is at hand from lenders who understand that many borrowers do have imperfect credit ratings. A bad credit secured homeowner loan could be the answer to your borrowing headaches.

CCJ, IVA, Arrears, Repossession or Bankruptcy

There are many people with debt problems in the UK. According to Credit Action figures, a property in the UK is repossessed every 14 minutes and someone will be declared insolvent or bankrupt every 3.78 minutes.

And, with 1,666 people reporting they had become redundant every day during the three months to the end of June 2010, the situation is set to get much worse.

With lenders tightening their criteria, even small credit issues can stop you getting the finance you need. Late payments on credit cards, small County Court Judgments (CCJs) and defaults are enough for a traditional lender to decline your application.

Bad Credit Secured Homeowner Loan

A bad credit secured homeowner loan allows you to borrow a sum of money secured against the equity in your home. The lender takes a legal ‘charge’ over your property which means that your home will be at risk if you fail to keep up repayments on the loan.

The amount that you can borrow will typically be determined by the value of your home and the equity that you have. It will also depend on your employment status, income and expenditure and the extent of the credit problems you have experienced.

A bad credit secured homeowner loan can be used for most purposes. You can borrow money to:

  • Consolidate existing unsecured debts
  • Pay for home improvements including extensions, redecoration or home repair
  • Buy a new car, boat, motorcycle or caravan
  • Pay for a holiday, wedding or honeymoon
  • Other purposes including paying for new electrical goods, jewellery or cosmetic surgery

Using a Bad Credit Secured Homeowner Loan to Rebuild Your Credit Rating

One of the advantages of a bad credit secured homeowner loan is that it can help you rebuild your credit rating.

Once you have taken out a secured loan, if you pay the full monthly amount on a regular, timely basis, your credit file will show that you have been competently managing this credit. This will show future lenders that you are capable of looking after your finances in a responsible way, making it much more likely that you will be agreed for credit in the future.

So, whether you have a CCJ or default, mortgage arrears or an IVA, why not find out how a bad credit secured homeowner loan can get you the money you need?

To use your home to raise money at a competitive APR, please fill this homeowner loan form.

Tips & Advices