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Personal Loans Guide

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Freehold Homeowner Loans

If you are the freeholder owner of a house or a leaseholder of a flat, you will be able to show your personal loan lender that you have some collateral and so you will be in a better position that somebody who doesn’t own any property. The ownership of property is even useful for those with a bad credit rating. Lenders usually consider freeholders to have a lower credit risk when compared with those who do not own property.

The amount you can borrow may depend on the amount of equity you have in your property, i.e if you have a 90% mortgage, then amount you can borrow may depend upon the current value of your property less the outstanding mortgage. However if the value of you home exceeds the outstanding mortgage you are in “positive equity and your lender may well be willing to lend you a percentage of you “positive equity”.

Your Home as security

If you are in positive equity and you own you home outright without any additional charges other than the mortgage over it, you will be able to offer it to your lender as security. This will mean that your lender could force you to sell your house if you fail to keep up with repayments on your personal loan.

Remember that Mortgages are long term loans and lenders will want to make a profit over the longer term, they will achieve this by giving you a rate which is higher that the usual mortgage rate but better than the short term personal loan rate. You will be able to pay off the personal loan faster by making additional payments (please check this with the lender before you agree to any new personal loan or mortgage or penalties could be imposed).

Obtaining a personal loan couldn’t be easier simply complete the no obligation application form below and your details will be sent directly to a specialist local personal loan advisor who will get back to you very shortly with their best possible deal. REMEMBER THINK CAREFULLY BEFORE SECURING ANY OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSE IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

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Step 1 of 3

About your loan

How much would you like to borrow? Over how many years?   Please select1 year2 years3 years4 years5 years6 years7 years8 years9 years10 years11 years12 years13 years14 years15 years16 years17 years18 years19 years20 years21 years22 years23 years24 years25 years   Purpose of loan? Current residential status? Please selectDebt ConsolidationHome ImprovementCarHolidayWeddingOther   Please selectHome Owner - With a mortgageHome Owner - No mortgagePrivate Tenant - FurnishedPrivate Tenant - UnfurnishedLiving with parentsOther   What is your monthly income? (including any benefits) Your employment status?   Please selectEmployedSelf-employedUnemployedHome-makerStudentRetiredOther   Proceed to step 2.

Step 2 of 3

About your loan

You qualify for two types of loan. Select either: Homeowner Loan Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible. Unsecured Loan Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.   Estimated value of your property?   Your current mortgage balance?       Where will you buy your car? Please selectA DealerPrivate SaleI'm Undecided   What is the total value of money you owe to companies?   Do you owe money to 3 or more companies?     YesNo   What is your monthly rent/mortgage payment?   Your living arrangements?     Please selectSingleLiving with PartnerSingle & 1 ChildSingle & 2 ChildrenSingle & 3 ChildrenSingle & 4+ ChildrenWith Partner & 1 ChildWith Partner & 2 ChildrenWith Partner & 3 ChildrenWith Partner & 4+ Children   Your date of birth?   Do you have adverse credit? (if yes, we can still help) --12345678910111213141516171819202122232425262728293031--JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember----1991199019891988198719861985198419831982198119801979197819771976197519741973197219711970196919681967196619651964196319621961196019591958195719561955195419531952195119501949194819471946194519441943194219411940     YesNo   Proceed to step 3.

Step 2 of 3	About your loan
Based on your information we recommend you speak to a personal debt adviser. They will offer you advice on: Whether a loan is your best option Consolidating your debts Reducing the amount you owe How to freeze your interest payments Protecting you from creditors Proceed to step 3.

Step 3 of 3	Your details
First name: Last name:     Phone number: Alternate phone number:     E-mail address:   First line of current address: Current postcode:     Based on your requirements we have selected the FSA regulated broker Broker Name to help you with your enquiry. Please click SUBMIT to confirm that you are happy for them to contact you by telephone/e-mail.

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