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Applying for a loan may seem challenging. You need some extra cash but the choices can be overwhelming and hard to understand with jargon like APR, secured, unsecured and so on. Its hard to know where to begin. We can help...

We can advise and help you choose the right loan for you, from personal loans to homeowner loans. We can even help you secure funds if you have a bad credit history. We will help you to understand the conditions of your loan and give you a full detailed breakdown along with lender details. Naturally, the most important thing is to make sure you will be able to afford the repayments.

SECURED LOAN LENDERS

(not all lenders displayed - not specific to your personal circumstances)

FREQUENTLY ASKED QUESTIONS

How we work?

By making an enquiry we will contact you to discuss your needs and outline if we can be of assistance. We will then request a copy of your credit file and this will be passed to a qualified adviser to review and give you advice and discuss possible quotations. If you wish us to proceed and get a ‘Decision in Principle’ we can do so. Once we have a decision from the lender we will discuss and email you a formal quotation and outline the process from there.

What is a homeowner loan?

This is a loan secured on your property as you are a homeowner. As the loan is secured upon the property lenders are more willing to provide cheaper rates when compared to unsecured loans and additionally can lend you more money over a longer term.

Can you get a secured loan with a bad credit history?

Yes. If you have had bad credit in the form of mortgage arrears, defaults, county court judgements, IVA and payday loans we have lenders that can help providing you have enough equity and can clearly afford any new borrowing.

How much can I borrow?

Secured loan lenders provide loans from £10,000 to £750,000. This depends upon your credit profile, equity in the property and affordability.

Why take out a secured loan rather than a remortgage?

We will always explore both options to ensure you get the right advice. Here are some reasons why a secured loan is more suitable, when compared to a remortgage:

Your main mortgage is at a low rate and any remortgage will be at a higher rate.
Your main mortgage has a large early repayment charge if you were to redeem this.
Your main mortgage has a long term left, whereas you want to borrow £XX over a shorter term to pay off quicker.
Your credit profile may mean a remortgage is not possible.

I have been declined in the past – can you help?

The key to this question is why you were declined. We provide an advised service, so if we cannot help you now we will explain why and provide advice as to what you need to do to be able to get a loan in the future.

How quickly can I get a secured loan?

Typical completion time from application is between 4 – 6 weeks.

What loan purposes do you accept?

Most legal purposes are allowed.

Poor Credit Secured Loans

Worried that your credit history is ruining your chances of getting a loan? Don't be; there's no need to worry! If you own a home, you can take out a homeowner loan. This is a great way to release the equity in your property for a number of reasons.

Here at the Money Hub, we work with a large panel of lenders who offer poor credit loans in the UK. We constantly help people with bad credit get loans and after taking some personal details we could be able to give you a in principle decision and at a competitive interest rate. Personal loans start from £1,000 and the loan repayment term can be anything up to 25 years.

How do I find out my credit score?
There are different ways you can do this. One of the easiest ways it to sign up to Experian (they have a 30-day FREE trial!). All signed up? Now you can see how your credit score is. It will be either poor, fair, good or excellent. You can also see the previous finances that you have obtained. County Court Judgements (CCJs) will also be visible. Experian is a great tool to use to increase your credit score. If you think you may not be able to get credit after you have signed up and seen your score, give us a call. You can speak to The Money Hub's experienced loan brokers. We help many clients with bad credit scored and can help them get a loan. Click here to check out the Experian website.

Another free service to check your credit report is Noddle.

What's a default and how do I know if I have any?
Simply put, a default is a missed loan repayment. It can also include missed payments for your credit card or car finance. Usually, a default occurs when you miss consecutive payments, and the lender wants the full balance back. Or if the lender wants to set up a payment plan to get back the money you owe. Not adhering to the credit agreement terms will appear on your credit report. This can also be sent to credit reference agencies and effect your chances of getting credit in the future. Don't be worried if you have defaults. They don't always prevent you from getting a loan. The Money Hub works with specialist lenders who help those who have a bad credit history.

What is a CCJ (County Court Judgement)?
A CCJ is a court order in England, Wales and Northern Ireland. It can be registered against you if you don't repay money that you owe. The court judgement will show you how much you owe and how you will have to repay it. There are many different reasons why a CCJ may be registered against you. These include:

Not paying a Council Tax Bill.
Not paying water rates.
Not paying gym memberships.
Not paying mobile telephone bill.
Not paying finance for solar panels / windows / kitchen etc.

We work together with a number of lenders who lend to consumers with poor credit, even if you have CCJs. Even if you think you have no chance of getting a loan, you should still apply. You might be surprised!

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Poor Credit Secured Loans