Homeowners may ultimately look to resort to loans for consumers who are seeing increased debt levels including to their utility companies, as new figures show that the energy crisis is growing.
Research by uSwitch shows that almost four million households owe a total £464 million to their power suppliers alone, with the average energy bill now sitting at £1,265 a year, almost £800 more than the level it was at in 2004.
Price hikes in the winter have seen the average home debt grow to £128 and it`s just fortunate that we had a mild winter, otherwise that could be far worse, indebted people may have tried to use less energy, which could have severe health implications, particularly for the elderly and infirm.
There are cheaper tariffs available, but Ann Robinson from the comparison site explains that `many see debt as a barrier to switching`, which can be a major disadvantage seeing as though the difference between the cheapest and most expensive deals can be around £300.
If you have multiple credit debts and are finding it harder to meet your everyday bills because of cash flow then if you are a homeowner with equity you could apply for a homeowner secured loan, which would provide you with a route to pay off unsecured bills using a new loan spread over a longer term to improve your cash flow. Please note you will likely pay more interest over the term and the loans are secured, so carry the same risks as a mortgage.
Our underwriters will identify the most suitable homeowner loan for you from our panel and provide you with a free quote, facts and figures, so you can decide if this will help you.
To get a homeowner secured loan quote without obligation or pressure, then visit firstchoicefinance.co.uk or call on 0333 003 1505, mobile friendly or 0800 298 3000, free from a BT landline.
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
First Choice are tied to certain loan providers.
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.
Get reliable remortgaging advice from First Choice Finance with 25 years experience; we can help you get a better remortgage deal by compare mortgage plans from high street banks and other mortgage lenders to give you the best remortgage for your circumstances.