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When you are looking for secured loan finance or have a poor credit rating, where can you find the finance information you need? When you are in arrears with your finance, when you are restricted by an IVA or have a bad credit history, where can you find unbiased finance information? Divadani Finance can introduce you to finance brokers who provide information, advice and guides, and can arrange finance for difficult finance situations.

FINANCE FAQ

What is secured loan finance?
A secured loan is a type of finance. The reason it is called a secured loan is because the lender uses one of your assets as security. The most commonly used asset is your house. As a result, these loans are designed for people who own their own home.

What is security?
If an asset is offered as security against a loan, then that means that the lender can take that asset away from you if you fail to repay the loan.

What are the advantages of secured loan finance compared to other types of finance?

Because the loan is secured against your property, the lender is taking less of a risk than they are when they offer someone an unsecured loan. As a result, the interest rates on this type of finance is generally lower than on overdrafts, credit cards, and other unsecured finance.

How much can I borrow?
Most finance lenders will arrange secured loan finance for anything from £3,000 up to £100,000. The amount they will lend you will depend on factors such as your income and the current value of your home.

What can this finance be used for?
Pretty much anything you like. For example: debt consolidation, home improvements, a new car, a holiday, paying for university studies or other training, or paying for a wedding.

How long does the finance run for?
Finance is available over various terms, typically from three years up to 25 years.

I've got a low credit rating. Can I still get finance?
So long as you are a homeowner and the value of your property is greater than your existing mortgage, then a history of credit problems won't necessarily prevent you from being approved for finance.

How long does this type of finance take to arrange?
This varies from case to case. Once you apply for secured loan finance, it can take anything from a few days to a few weeks until you receive the money. Generally speaking, most finance take around three weeks from the time you make the application until the time you receive the loan money.