Debt consolidation guides

Bad Credit

Can I Consolidate Debt on Reduced Income or Maternity Leave?

Yes, it is possible, but the lender will assess the income you actually have now or can evidence you will return to, not the salary you...

7 min read Bad Credit

Debt Consolidation Loan Declined: What Next?

A decline from one lender is not a verdict on you; it means your application did not fit that lender's criteria. Unsecured lenders decline...

7 min read Bad Credit

Debt Consolidation vs IVA for Homeowners

An IVA is a formal insolvency solution, arranged through a licensed insolvency practitioner, that fixes your monthly payments for several...

9 min read Bad Credit

Does Consolidating Debt Hurt Your Credit Score?

Consolidating debt usually causes a small, short-lived dip in your credit score, typically lasting 3 to 6 months, because of the hard search...

7 min read Bad Credit

How Much Debt Is Too Much to Consolidate?

There is no fixed ceiling, but two tests show when you are past it. If your unsecured debts are more than about 50% of your annual income,...

8 min read Bad Credit

What Credit Score Do You Need for a Secured Loan?

There is no minimum credit score for a secured loan. Lenders never see the number that Experian, Equifax or TransUnion show you; they read...

8 min read

Remortgage to Pay Off Debt

Can I Consolidate Debt With a 90% LTV Mortgage?

Rarely by remortgage. Major lenders cap borrowing for debt consolidation at 80% to 85% loan-to-value, so at 90% there is no room to add...

8 min read Remortgage to Pay Off Debt

Can I Remortgage to Pay Off Debt?

Yes, in principle. If you have enough equity in your property and can afford the new monthly payment, you can remortgage to pay off debt,...

8 min read Remortgage to Pay Off Debt

Can You Add Debt to Your Mortgage?

Not literally, no. You can't attach a credit card or loan balance to your mortgage. What actually happens is you borrow extra mortgage...

7 min read Remortgage to Pay Off Debt

Is Consolidating Debt Into My Mortgage a Good Idea?

It depends on your situation, there's no single right answer. Consolidating debt into your mortgage, or into a secured loan, homeowner loan...

8 min read Remortgage to Pay Off Debt

Is It a Good Idea to Remortgage to Pay Off Debt?

Remortgaging to pay off debt is a good idea when your current deal is ending or has no early repayment charge, the new rate is competitive,...

7 min read Remortgage to Pay Off Debt

What Counts as Unsecured Debt?

Unsecured debt is any borrowing not tied to an asset the lender can take back: credit cards, personal loans, overdrafts, store cards, buy...

7 min read Remortgage to Pay Off Debt

Which Lenders Allow Remortgaging for Debt Consolidation?

Most major UK lenders allow a remortgage to pay off debt, with tighter limits than for other borrowing. Halifax, Skipton, TSB and Santander...

8 min read Remortgage to Pay Off Debt

Will Consolidating Debt Into My Mortgage Cost More Overall?

Usually, yes. Moving £20,000 of cards and loans onto a mortgage over 20 years cuts the monthly payment sharply but tends to cost more in...

8 min read Remortgage to Pay Off Debt

Will Lenders Ignore Debts I Am Paying Off?

Some will, some will not. When you remortgage to pay off debt, or take a secured loan (also called a homeowner loan or second charge...

7 min read

Secured Loans

Are There Secured Loans With No Broker Fee?

Yes. Some secured loan brokers charge you no fee and are paid a commission by the lender instead, and a small number of lenders take...

8 min read Secured Loans

Can I Pay Off a Secured Loan Early?

Yes. You have the right to pay off a secured loan, also called a homeowner loan or second charge mortgage, in full or in part at any time....

7 min read Secured Loans

Can You Get a Secured Loan Without Telling Your Mortgage Lender?

No. A secured loan, also called a homeowner loan or second charge mortgage, is registered as a legal charge on your home behind your...

7 min read Secured Loans

Declined for Further Borrowing? What Next

If your own mortgage lender has said no to lending you more, it doesn't mean you have no options. Lenders only offer their own products...

8 min read Secured Loans

Do Secured Loans Do a Soft Search?

Checking your secured loan options does not need a hard search. Equiclear runs no credit search, and the FCA authorised broker you are...

8 min read Secured Loans

Does a Secured Loan Affect My Mortgage?

No, not directly. A secured loan, also called a homeowner loan or second charge mortgage, is a separate agreement secured against your...

7 min read Secured Loans

Does a Secured Loan Affect Remortgaging Later?

Yes, in process terms. A secured loan, also called a homeowner loan or second charge mortgage, sits as a second charge on your home, and any...

7 min read Secured Loans

How Long Does a Secured Loan Take to Pay Out?

A secured loan, also called a homeowner loan or second charge mortgage, typically takes 2 to 4 weeks from full application to money in your...

7 min read Secured Loans

How Much Can I Borrow With a Secured Loan?

How much you can borrow with a secured loan, also known as a homeowner loan or second charge mortgage, mainly comes down to two things: how...

8 min read Secured Loans

How Much Could I Save by Consolidating Debt?

It depends which number you mean. Consolidating £20,000 of credit cards and a personal loan with a secured loan (also called a homeowner...

7 min read Secured Loans

How Much Equity Do I Need to Consolidate Debt?

Equity is your property's value minus everything you owe against it, including your mortgage. There's no fixed minimum, but most lenders...

8 min read Secured Loans

Is a Secured Loan a Good Idea for Paying Off Debt?

A secured loan, also called a homeowner loan or second charge mortgage, is a good idea for paying off debt when it lowers your monthly...

7 min read Secured Loans

How to Keep Your Mortgage Rate and Clear Your Debts

Yes, in most cases. A secured loan, also called a homeowner loan or second charge mortgage, is a separate loan secured against your property...

7 min read Secured Loans

Secured Loan Broker Fees: What Is Normal?

Secured loan broker fees commonly range from around £1,000 to £3,000, or a percentage of the loan, often 2% to 10%. On a £20,000 secured...

7 min read Secured Loans

Secured Loan Rates Explained: What Decides Your Rate?

The rate on a secured loan, also called a homeowner loan or second charge mortgage, is decided by 5 things: your combined loan-to-value,...

7 min read Secured Loans

What Does Second Charge Mean on a Property?

A second charge on a property is a legal charge registered at HM Land Registry that ranks behind your mortgage lender's first charge. It...

7 min read Secured Loans

What Happens If I Miss a Secured Loan Payment?

Missing one payment on a secured loan, also called a homeowner loan or second charge mortgage, usually leads to an arrears fee, a late...

7 min read Secured Loans

What Is a Homeowner Loan?

A homeowner loan is the same thing as a secured loan or second charge mortgage. It is a loan secured against your home behind your existing...

8 min read Secured Loans

What Is a Second Charge Mortgage?

A second charge mortgage, also called a secured loan or homeowner loan, is a separate loan secured against your property that sits behind...

7 min read Secured Loans

What Is a Secured Loan APRC?

APRC stands for annual percentage rate of charge. It is the total cost of a secured loan, also called a homeowner loan or second charge...

8 min read Secured Loans

What Is the Maximum LTV for a Secured Loan?

The maximum loan-to-value for a secured loan, also called a homeowner loan or second charge mortgage, is commonly 85% of your property's...

7 min read