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Understanding Debt Consolidation Loans

A secured debt consolidation loan is designed to ‘consolidate’ multiple debts into one single, manageable loan, with the loan amount secured against your property. This type of loan can be particularly helpful when you’re managing multiple credit card payments, loans, or other debts. It provides a streamlined approach to simplify your financial commitments into a single payment.

Secured debt consolidation loans are a practical, long-term financial solution, with terms typically ranging from 3 years to 30 years. At Loanable, we recognise that everyone’s circumstances are unique, so we tailor our loan options to meet your specific needs.

Our secured loans stand out from traditional financing solutions due to their flexibility and simplicity:

  • Streamlined Payments: Juggling multiple creditors can be stressful and challenging. With Loanable, you can consolidate your debts into a single loan, ranging from £10,000 to £1 million. This provides a simpler approach to managing your finances with a single, regular payment.

  • Flexible Repayment Terms: Our debt consolidation loans are designed to fit your financial situation. With repayment terms from 3 to 30 years, we offer you the flexibility to select a repayment period that suits you best.

  • Cover Multiple Debts: Whether you’re dealing with several credit card balances, personal loans, or other debts, our secured debt consolidation loans can offer a path to financial clarity.

  • Bad Credit? No Problem: Unlike traditional lenders, we consider your overall financial picture, not just your credit history, when making our lending decisions. This means that even with a poor credit history, you could still be eligible for a Loanable debt consolidation loan. For more information, view our bad credit loans.

  • 100% LTV Products Available: Need a loan equivalent to the full value of your property? Don’t worry; we’ve got you covered with our range of products.

We aim to simplify your financial journey. With our secured debt consolidation loans, you’re not just consolidating your debts; you’re also gaining access to a dedicated, experienced advisory team who’ll be there for you every step of the way. Choose Loanable for a secured debt consolidation loan that’s tailored to your needs.

The Benefits of Choosing Loanable Debt Consolidation Loans

We’re dedicated to helping you navigate your financial journey more effectively. Our secured debt consolidation loans come with several benefits, empowering you to manage your debts confidently, regardless of your financial situation.

  • Streamlined Financial Management: If you’re juggling multiple repayments to different lenders, our secured debt consolidation loans provide an ideal solution. With one regular payment, you can simplify your finances and manage your debt more effectively.

  • Repayment Terms to Suit Your Needs: We understand that everyone’s financial situation is unique. With repayment terms ranging from 3 to 30 years, we give you the flexibility to choose a term that suits your financial circumstances and your ability to repay.

  • Poor Credit History Considered: A poor credit score shouldn’t deter you from your financial goals. At Loanable, we consider your broader financial situation, not just your credit history, when making lending decisions.

  • No Upfront Credit Checks: We understand that applying for a loan can be a daunting process, especially if you’re concerned about the impact on your credit score. That’s why we don’t conduct upfront credit checks. Instead, we focus on your overall financial situation to make our lending decisions.

Secured Debt Consolidation Loan Use Cases

Our secured debt consolidation loans can be beneficial in various situations. Here are a few common scenarios where a secured debt consolidation loan might be the perfect solution:

  • Consolidating Multiple Debts: If you’re managing multiple debts across different lenders, a secured debt consolidation loan can simplify your financial management. By consolidating your debts into one loan, you only have to worry about one regular repayment.

  • Improving Cash Flow: High-interest debts can drain your monthly income. By consolidating your debts into a secured loan with a competitive rate, you can potentially reduce your monthly repayments and free up more of your income.

  • Rebuilding Credit: Keeping up with multiple repayments can be challenging and missed payments can negatively affect your credit score. A secured debt consolidation loan can help rebuild your credit by turning multiple debts into one manageable repayment.

  • Large Debt Amounts: If you have larger debts that smaller unsecured loans can’t cover, a secured debt consolidation loan can provide the funds needed to consolidate these debts.

At Loanable, we’re dedicated to providing financial solutions that align with your unique needs and circumstances. Trust us to guide you towards a more manageable financial future.

Are You Eligible for a Loanable Secured Debt Consolidation Loan?

We strive to make our secured debt consolidation loans accessible to as many people as possible. Our main goal is to help you regain control of your financial circumstances, no matter what they might be.

Here’s a general guide to our eligibility criteria and requirements:

  • Age Requirement: You need to be at least 21 years old to apply for a Loanable secured debt consolidation loan.

  • Property as Security: A secured debt consolidation loan requires a property as collateral. This could be your residence or another property you own.

  • Proof of Ability to Repay: While we don’t exclusively base our decisions on your credit history, we do need evidence that you’ll be able to repay the loan. This could come in the form of income details, savings, or a budget plan reflecting your ability to manage the new consolidated loan repayment.

  • Residency: Our debt consolidation loans are available to UK residents. In terms of documentation, we usually require:

    • Proof of identity (e.g., a passport or driving license)
    • Proof of address (e.g., a utility bill or bank statement)
    • Proof of income or repayment plan
    • Details about the property being used as security

We’re proud of our inclusive approach to lending. Don’t let a lack of traditional qualifications or a poor credit history stop you from applying for a secured debt consolidation loan with us. We’ll look at your entire financial situation and work hard to find a solution that suits you. Apply today and let us help you streamline your financial management.

How to Apply for Your Debt Consolidation Loan

We know that sorting out your finances can seem overwhelming, which is why we’ve made our application process straightforward and hassle-free. Here’s your step-by-step guide to applying for a Loanable debt consolidation loan:

  • Step 1: Fill Out Our Online Form
    Begin by completing our simple and user-friendly online form. We’ll need some basic details about you, the loan amount you’re seeking, and the property you’re using as collateral.
  • Step 2: Consultation with Our Advisors
    Once we’ve received your online form, one of our knowledgeable and friendly advisors will reach out to you. They’ll discuss your individual needs and financial situation, and will be more than happy to answer any questions you may have. This call enables us to customise the loan to your unique needs.
  • Step 3: Receive Your Customised Loan Proposal
    After the consultation, we’ll put our expertise to work to find the most suitable lender and assemble a customised loan proposal that fits your circumstances. We’ll send this proposal to you for your review and approval.
  • Step 4: Legal and Property Checks
    With your approval, we’ll proceed with the necessary legal checks and property valuation. We strive to carry out these checks swiftly to avoid any delays in processing your loan.
  • Step 5: Loan Disbursement
    Once all checks have been successfully completed, the lender will release the funds. The timeframe for this can vary, but we always aim to have the funds available to you within a matter of days.

Throughout the application process, our team of advisors is available seven days a week to assist you. Don’t hesitate to reach out to us at any time.

Securing a debt consolidation loan with Loanable is that easy! Begin your application today and take the first step towards simplifying your finances.

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Debt consolidation FAQs

At Loanable, we’re all about making your financial journey simple and transparent. So, we’ve gathered your most common questions about our debt consolidation loans, providing you with all the answers you need in one place.

A debt consolidation loan is a type of financing that allows you to combine multiple debts into a single loan, often with a lower overall interest rate and more manageable monthly payment.

Remember, it’s crucial to ensure that you can meet the repayments of a secured debt consolidation loan, as your property will be at risk if you fail to repay the loan. Always consult with a financial advisor or trusted expert before making a decision.

Your Trust is Our Reward

At Loanable, your trust is paramount to us. We’re proud to be fully authorised and regulated by the Financial Conduct Authority (FCA). This means we adhere to the highest standards of conduct in the financial services industry, putting your interests at the heart of our business.

We’re also humbled and grateful for our clients’ positive feedback, earning us over 150 5-star reviews on Feefo.

Take the first step towards securing your property goals with a company that’s trusted by hundreds of homeowners across the UK. Get in touch with us today to explore your bridging loan options.

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Get in touch

We’ve made sure you have various ways to reach out to us. Whether you have questions, need more information, or are ready to apply for a loan, we’re here to help!

Phone: You can call us directly at 01925 988055. Our friendly team is available Monday-Sunday from 9am-7pm to assist you.

Email: Prefer typing out your queries or concerns? No problem! Reach us at [email protected], and we’ll get back to you as soon as possible.

Physical Address: If you’d rather speak to someone in person, you can visit our office at The Old Rectory, Rectory Lane, Winwick, Warrington, WA2 8LE.

Taking the Leap with Loanable:
Ready to bridge the gap in your finances with a bridging loan from us? Wonderful! Click the “Complete Our Form” button below, and let’s get started. Or if you have more questions, don’t hesitate to reach out to our team. We’re always here to ensure you have all the information you need to make the best decision. Your financial future awaits, let’s explore it together with Loanable!

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About Us.

We’re based in the North West of England with a dedicated, experienced team of  advisors helping homeowners, property developers and investors across the United Kingdom. We have access to over 400loans from the nation’s top lenders. We’ll match your individual circumstances to the right advisor who will source the best lender and ensure you get the correct deal.

We’re open 7 days a week Simply complete the form and one of our advisors will make contact and talk you through your options.

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