Want A No Equity CCJs Secured Loan ?

If you have County Court Judgements and you are looking for finance then most lending companies will not give you credit. One way to get round this is to get a secured loan where the finance company takes second charge on the property. The way it works is you need equity or capital within your home. For example your house is worth 100k and your mortgage outstanding is 50k. The amount of equities you have is determined from subtracting what you owe from the value of your property. If you have no equity then the only way to fund your purchase or consolidation is to take stock of the fact you have CCJs and get a unsecured loan.

Although with unsecured finance the rate offered is often on a higher interest rate this kind of credit does serve its purpose. After you have made between 6 or 12 payments to a unsecured loan you credit file will improve. Now you may be able to consolidate and get a cheaper APR rate of interest. 

So to sum up we suggest a secured loan is best if you have equity in your home and CCJs (county court judgements) in your finance past. However to get rid of debt if you have no equity then getting a unsecured loan is a good way to finance your purchase or consolidate existing credit, un-secured loans also will in the long term repair you credit history as long as payments are made on time.

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