People who are experiencing debt management difficulties in the UK are being told that taking out a secured loan could help.
As the number of fixed rate mortgages are increasing, the rejection figure is also on the rise. For those who need more financial help, but cannot gain an extention on their existing mortgage, lenders are increasingly advising borrowers to turn to secured loans.
Repayments on secured loans do tend to be smaller, but due to the loan being repaid over a longer period, much more interest is accumulated.