FROM £1,000 TO £250,000
Bad credit homeowner loans explained
We understand that when you have bad credit looking online for a homeowner loan can be a frustrating process. The advertised interest rates on comparison sites sound great don’t usually apply unless you have a perfect credit score. Not only that, understanding which lenders might accept your application can be all but impossible and lead to a whole lot of wasted time and effort on your part.
So what’s the answer? We believe it’s about openness and honesty. At Tailored Money we bring a common-sense approach to the world of bad credit homeowner loans. We take the time to understand your unique circumstances and provide practical information on your suitability and eligibility for a secured loan.
If we think we can help we’ll go out of our way to make the process of applying and securing your loan as fast, simple and pain free as possible. We’ll assign a highly experienced loan broker to work on your behalf – giving you access to specialist adverse credit lenders and clearly setting out the charges and terms of any homeowner loan that we recommend.
We work with customers that have previous credit problems including missed or late mortgage payments, defaults, CCJ’s, bankruptcies, IVA’s and a range of other issues. They often use a homeowner loan ranging from £1,000 to £250,000 to consolidate their current outgoings into one lower and more manageable monthly payment or to finance a home improvement project. In fact, a homeowner loan can be used for a whole range of purposes provided that you have the equity within your property to secure against your borrowings and that the monthly repayment terms of the loan are affordable in your circumstances. This brings us on nicely to the next point:
When is a homeowner loan not a suitable solution? That depends on your individual circumstances but we think it’s extremely important to remind our customers that a homeowner loan is a form of secured lending against your property. If you are not able to keep up your repayments then your home may be repossessed to settle the debt. This makes it vitally important to make sure that you take out a loan as part of a considered financial plan, with a clear idea of how it’s going to be repaid over the term. If you do have a poor credit history then you want to make sure taking out a loan at the offered interest rate is going to leave you in a better financial position overall and not a worse one.
As well as secured loans for bad credit we can also provide unsecured loans, which are not secured against your property and are typically available from £1,000 to £10,000. Depending on your financial requirements and previous credit history this can sometimes be a better option and one we will explore with you.
Click the Quick Decision button below for a fast answer on how Tailored Money can help you secure a personal or homeowner loan.
Ready to go? Get a quick, no obligation decision today.