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Bad Credit Secured Loans

Your bank may offer 100’s of products and plans.
Promise Money has over 10,000

Why choose us?

Your bank may have 100’s of secured loan plans – we have over 10,000!

Plus, we have…

  • 30 years of experience
  • No upfront fees
  • Friendly and fast advice

Promise Money have secured loan plans available for everyone, including those with credit issues…

Using one of the most comprehensive secured loan panels in the UK, we can search for the best deal for you.


What are secured loans for poor credit?

They are second charges for people who have had credit issues in the past, so borrowers who are not eligible for “prime” products which are aimed at people with better credit histories.

Some of the features of our bad credit home loans include:

  • Borrow up to 75% of your property value with heavy arrears and CCJ’s
  • Even if you have a few months mortgage arrears now we have lenders which will lend up to 100% of the property value
  • Loans are available to clear IVA’s, Debt Management Plans and Bankruptcies
  • You can secure the loan against your home or property you rent out
  • A variety of loans are available up to £150,000
  • We have lenders in England, Scotland and Wales who consider bad credit

    Find a secured loan

    Enter some details and we will estimate your repayments on our popular loan plans – this will NOT affect your credit rating.

    How much you would like to borrow?

    £

    Type in the box for larger amounts

    For how long?

    yrs

    Use the slider or type into the box

    What best describes your credit rating?

    Perfect: In the last year you have no mortgage arrears, CCJs or defaults. Your credit score is high.

    Your repayments are estimated at

    £249.51 per month


    More than 50% of borrowers receive offers better than our representative examples. The %APR rate you will be offered is dependent on your personal circumstances.
    Secured / Second Charge Loans secured on land
    Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55.730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.2
    By submitting any information to us, you are confirming you have read and understood the Data Protection & Privacy Policy.

    Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status.

    More than 50% of borrowers receive offers better than our representative examples

    The %APR rate you will be offered is dependent on your personal circumstances.

    Mortgages and Remortgages

    Representative example

    Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

    Secured / Second Charge Loans

    Representative example

    Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

    Unsecured Loans

    Representative example

    Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.


    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

    REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


    Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
    Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

    Authorised and regulated by the Financial Conduct Authority – Number 681423
    The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

    Website www.promisemoney.co.uk