Secured Loan, Allaying Fears

Taking out a secured loan or a self cert mortgage can seem like quite a daunting proposition. They are such long term agreements with a substantial sum to consider both in terms of what you borrow but also the interest. You may start to worry about not being able to meet your obligations on a monthly basis and every month becomes a harder struggle to meet the repayments. You may worry about ending up with mortgage arrears and getting a bad credit rating. All these things are worth considering before you commit to a long term financial investment. However you should not let your cautious approach to financing put you off.

Secured loans and self cert mortgages are there to serve a purpose. To let you buy what you can not afford to buy out right for now. Yes, you should make arrangements to prevent you from getting into mortgage arrears and you should talk over any worries you have about bad credit with an independent financial adviser. However the rewards of the mortgage which is owning your own home even if you are self employed, or a loan which are purchasing a large asset, experience or safety from out of control debts, make up for the discomfort.

The secret is to plan ahead. Make a list of what is worrying you then find constructive ways to deal with it. Take your list to your self cert mortgage or secure loan lender if you like. They are bound to be able to assuage your worries. If your fear is mortgage arrears then take steps to have a contingency fund behind you to dip into at times of financial stress. If your concern is more to do with bad credit check out the market for options to deal with it. There are plenty of providers who specialise in repairs to your credit rating.

It is fine to have worries about what the future holds and to be concerned that you can deal with it. But do not let it put you off getting your own home or going on your dream holiday.

We can not promise you a Mortgage BUT we will listen no matter what your circumstances are.

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ABBEY FINANCE

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Actual rate available depends on circumstances ask for personalised illustration. The overall cost for comparison is 7.9% APR. Our representative fee charged is 1.25% of amount borrowed. APR variable and based on a usual case.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE