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 Consolidation Loan - FAQs

Secured Finance - FAQs

  • How do I get a secured loan or remortgage from Women in Debt?
    Simply call on 08448 222 622 and speak to Women in Debt today to see if you pre qualify for secured finance. 

 

  • What is a re-mortgage?
    If you are a homeowner looking to release equity, you may wish to re-mortgage. This means that the terms of your original mortgage are renegotiated. It usually means that you will increase the amount that you are borrowing due to rise in property prices. You may wish to re-mortgage in order to pay off other debts such as credit cards or personal loans. Why not speak to Women in Debt today on 08448 222 622 for more information?

 

  • What is a secured loan?
    When you take out this type of loan, you provide the lender with security against the money you borrow. This security could be your home, for example a mortgage is the most common secured loan in the UK as you borrow the money to buy a home and this becomes the security, should you fail to make repayments.

 

  • What is the difference between secured and unsecured loans?
    With an unsecured loan you do not put up any security on a loan- such as your house- as you would if you took on a secured loan. This means there is no danger of losing your home, however, if you don't keep up repayments at the contractual rate you will be taken to court. Additionally, interest rates are usually higher on an unsecured loan so it will normally cost you more.

 

  • How easy is it to get a loan?
    Secured loans are usually easier to get than unsecured loans because the lender has protection, in the form of security in the event that you are unable to repay the debt. 
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