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2008-02-27 07:07:54
UK Secured Debt Consolidation Loans - Repairing Your Finances with a Home Equity Loan
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 Do you find that your debts are quickly spiraling out of control due to extremely high interest rates?
Many people find themselves buried under a pile of debt, and usually this is credit card debt. Credit card debt can be the most sinister debt of all due to sky-high interest rates. If you are carrying a rather large balance, then getting ahead on your payments can be nearly impossible due to the sky-high 20% (in most cases) interest rates.
The good news is that if you are a homeowner currently living in the UK, then you are eligible to take out a secured loan.
What is a secured loan exactly?
A secured loan is a loan that is backed by the equity in your home. Meaning, you borrow a lump sum of money, and the lender gets added onto your mortgage until you pay back the loan.
The advantages of a secured loan are many. First, you are able to borrow extremely large sums of money due to the fact that you are able to provide collateral. Second, your interest rates will be much, much lower than the rates associated with a credit card (secured loan interest rates are usually between 8-9% APR). Third, you will have much longer to pay back the loan (usually up to 25 years).
So, let's say that you currently have 30k in credit card debt and own a home in the UK. You currently pay 20% APR a year for your credit card debt. Well, if you take out a secured loan of 30k, you could pay off your credit card debt in full and then pay a much lower interest rate of 8.5% APR. Plus, you can pay back the loan over a period of 25 years, giving yourself much more time to take care of the debt.
Applying for a secured loan is quick and easy. Simply click on the link below and you will be taken to our easy-to-use application form. Applying only takes five minutes, and an agent from a leading secured loan firm in the UK will ring you up within days to go over your application with you. Apply today!
Apply for a Lending Place secured loan today!
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Get Your Free Loan Offer Today - Click Here
There is NO FEE and you are under NO OBLIGATION!
We'll Compare over 250 loan plans and search over 90% of the loan market.
Applicants with bad credit history, Mortgage Arrears, Missed payments or CCJs are welcome.
A lot of big banks are competing for your business - Apply Today
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