UK Property Finance Source Secured Loan for Debt Consolidation
Case Study Category: Secured Loans
In June 2016, we were approached by a client from South Yorkshire who was looking to reduce his monthly outgoings by means of a secured loan that would consolidate all of his existing debts – at a much more affordable rate.
As a responsible lender, once we had assessed our clients ability to pay based on his finances and personal circumstances, we set about finding an appropriate secured loan product that was backed by the equity tied in with his residential home.
Within a matter of days, we were able to provide a much needed finance package with a value of £35,000 – which our client then used to pay off a number of existing debts including all of his unpaid credit cards, a motor financing deal and a number of much smaller debts with high interest rates.
As a result of the secured loan we were able to offer our client, he managed to reduce his monthly outgoings significantly – saving him a very impressive £640 per month.