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Whether you are looking for mortgage advice, debt solutions, or insurance you are in the right place. By choosing Financial Bliss you can rest assured that you will receive the very best unbiased advice and service. What's more, we understand that as your circumstances change so to do your requirements; that's why we aim to work alongside you to build a lasting relationship, so no matter what situation you find yourself in, you know where to turn for the advice you need when you need it.

Secured Loans

Secured loans are not new. Although historically they have a reputation for being expensive and there are some horror stories around costs, demand for them is steadily increasing. There are several reasons for this; a major reason is that banks or more traditional lenders are loaning money to fewer people. A secured loan can help you get extra borrowing that you can’t currently get on your mortgage. Another reason is cost.

Over the last couple of years there have been some excellent rates available on existing mortgages, some trackers can be as low as the Bank of England base rate itself. In this instance clients need to assess their options carefully as moving the mortgage will mean losing the existing rate and potentially facing increased cost. A secured loan can help you retain this rate, keeping your mortgage as low as possible; it can also mean that you avoid paying any expensive early repayment charges that may apply should you still be in a tie in period.
Borrowers with less than perfect credit ratings may also be considered, as can those in self employment. All in all a secured loan can be a flexible way to borrow additional money.

The decision to take out a secured loan should not be taken lightly. On all secured loans the following statement or a variation on it will apply:

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

In layman’s terms, this means that if you have current unsecured debt such as loans or credit cards and you are considering taking a secured loan to repay those debts you should seek independent advice from a company with your best interests at heart. Missed payments on a secured loan can mean your home could be at risk. It is important that a borrower is fully aware of all their options before making any decisions.