Use your home equity to raise money at a great rate from trusted UK lenders

Debt consolidation, home improvement, self-employed, bad credit

Can You Get Adverse Credit Secured Homeowner Loan to Stop Repossession Order?

Yes, you can.

A secured homeowner loan allows you to borrow cash based on the equity in your home. If you have lots of unsecured debts that mean you don’t have enough in the bank to pay your mortgage, why not consider reducing the amount you pay to these other debts?

An adverse credit secured homeowner loan may be particularly useful in this situation. You can use this money to clear any arrears you may have on your mortgage, leaving you in a situation where you just have your mortgage and secured loan payment to pay on a monthly basis. This may well help you streamline and organise your finances more effectively.

Judges are much more likely to be lenient on you if you can prove that you are tacking pro-active steps to putting your finances in order.

By consolidating your debts into one manageable, monthly secured loan payment, you may find that you have enough cash left over to pay your mortgage on a monthly basis. You may even have enough to make up any arrears you have on your home loan. This will mean that repossession hearings will be halted and you can gradually bring your mortgage account back up to date.

However, you should also sit down and work out how you are in your present situation. If you don’t have the income to pay your debts, taking out a further adverse credit homeowner loan might just prolong the agony of having your home repossessed. You should only consider this option if you can be sure that you are going to be able to maintain your repayments on an ongoing basis.

If you are facing the threat of a repossession order, it is vitally important that you do not bury your head in the sand. Talk to your lender at all times to let them know what the situation is and explain what measures you are taking to bring your account back up to date.

And, consider an adverse credit secured loan. It could be just the solution you need to stop a repossession order being made.

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

Tips & Advices