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junior232

Secured loan options

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Hi all,

 

I have a friend who wants to get a secured loan agianst his house but he is unsure of which company to go with.

 

He has a house with no mortgage on there, tenants living in the house paying rent each month they have been living in the house for over 2 years now, He also works full time and has been working for the company for over 3 years so has a stable income, with his income and rental income his monthly income is close to £2000 a month.

 

The only problem he has is his credit score, he has two defaults agianst his name so i know he would probably get rejected by a bank for a secured loan, can anyone with experience of secured loans give any advice on which is the best company to go with and a company who would accept someone with a poor credit score?

 

He is aware of all the risks, he may lose his house if payments are not made on time, but he has worked out all his finances and can manage to pay £400 a month towards loan repayments.

 

Thank you in advance for any help.

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which ever one you choose, its a bit of a choice between the devil and the deep blue see - in other words they are all as bad as each other when the doo doo hits the fan.


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You won't get a recommendation for a lender via CAG (or shouldn't do).

 

I think your friend will have to shop around for what he considers the best deal.


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