Home Collection Loan

Home Collection Loan

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Home Collection Loan

Video transcript

Home collection loans are another name for the doorstep loans that some people may use in order to borrow a few hundred pounds until the end of the month, but you may be better served by looking at the debt solutions available from First Choice Finance.

Providers of home collection loans try to attract customers by indicating that they can borrow money without a credit check, meaning that defaults, arrears, insolvencies and CCJs won`t count against them when they need some extra cash.

This is likely to appeal to some people who feel that they`ve been excluded by other more mainstream lenders, but there can be a sting in the tail with high interest rates that mean that borrowers can end up paying back much more than they initially borrowed. This can lead to a debt spiral if further short-term or payday loans are taken out to pay off the initial ones.

If you find yourself struggling to make ends meet towards payday and you would like to explore an alternative to home collection loans, perhaps looking for a longer-term solution that could help to restructure your debts, rather than just adding a short-term fix then give us a call.

Debt consolidation can reduce the amount you pay each month on credit and loans you have unfortunately run up - like credit cards and card finance, meaning that you`ll have more money in your pocket or bank account by the end of the month and you won`t need to resort to payday loans or home collection loans.

With debt consolidation, homeowners and mortgage payers can use the equity in their properties to pay off the unsecured bills and be left with a single, lower repayment each month. One thing to bear in mind is that total interest over the period of the loan may total more as the homeowner secured loan may be over a longer term.

See how First Choice Finance can try and give you an alternative to home collection loans by visiting firstchoicefinance.co.uk and completing our short on line form or by calling 0800 298 3000 from a landline or 0333 003 1505 from a mobile.

Loans For £30,000

First Choice are a leading finance broker and can help you arrange finance, giving personal advice helping you make comparisons of the different loan plans available. We help you compare the different numerous advantages of the different loan plans and lenders, showing you the how shortening or extending the loan term can affect the monthly loan repayments and the total amount that will be repaid. £30,000 is a larger loan amount and can be more difficult finding a loan plan with that amount, as most personal loans offer a maximum loan amount of usually £15,000 with a few offering up to £25,000. Homeowner loan amounts can be as much as £150,000. As a mortgage broker as well as being a loan broker First Choice could look at alternative options for raising your 30,000 as in some cases remortgaging may give you a cheaper way of borrowing the money that you need.

If you want to compare loans there are several parameters that play a role in the cost of the loan these include the length of the loan, the interest rate and your credit profile. Our advisers will speak to you about the various options available to you helping reduce the hassle and guiding you through the loan process.

Bad Credit Home Owner Loans
Many people ask the question can I get a loan if I have bad credit? The answer may be yes, here at First Choice Finance we have numerous lenders who specialise in helping people who have had difficulty in the past, if you have missed payments on your mortgage, credit card, car finance or other existing finance, some of our lenders will also be able to help if you have received a county court judgement or other negative marks on your credit profile. With lenders who have loan plans that cater for those of us with bad credit we could still help even if you have been refused a loan or mortgage in the past.

Loans For Self Employed
Many of us are self employed, tradesmen, business owners and contractors may all find themselves looking for a loan and finding their options are limited, here at First Choice Finance we don`t feel that being self employed should stop you getting a loan and mortgage and we have numerous loan plans that cater for the self employed. As with all our finance loans and mortgages you will receive a bespoke finance quotation that you will be under no obligation to proceed with, we will discuss your needs and requirements, compare suitable finance plans and options and process the loan helping minimise the paperwork and red tape. Â

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
4.5% APRC
Representative Example: 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
First Choice are tied to certain unsecured lenders.

Security is required on immovable property.

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. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

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.