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Secured Loans uk

 
In The UK Secured loans are categorized by the fact that they are for homeowners. What this means is that the person taking out the loan uses their home as collateral. Should you fall into difficulties or are unable to make the repayments on your loan you will sooner or later lose your home. Therefore before taking out a secured debt consolidation loan it is important that you solve the route cause of your debt problems and make sure that you have budgeted fully to cover the loan repayments.

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Debt Facts

The average debt per household in the UK is £10,700

The average problem' debt has risen to over £20,000

Debt problems increased by 39 per cent in four years

Citizens Advice Bureaux received 1 million debt inquiries in a year

The level of secured debt has risen by 70 per cent in five years

Money owed on overdrafts is £5.7 billion

Money owed on personal loans is £41 billion

Money owed on credit cards is £21 billion

Debt is linked to depression and anxiety


Debt Problems

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