Secured loan. What APR can i expect??

wigannwuk

Im currently thinking over going down the route of a £10k secured loan.I have £12k on six credit cards ( unbeliveable now i think about it) which i calculate is an average of 18% APR. Now ive looked at a secure loan with Black Horse who's headline rate is 7.9% but Typical is 11.9% apr.
Ive just paid for a Equifax report which says my score is 464 which is smack in the middle of good. Infact ive missed the odd credit card payment due to my forgetting as opposed to not being able to but now ive got everything on direct debit.
My concern is the amount of credit card accounts i have will go against me. So im looking to see if anyone can advise what ball park APR i should expect.
Obviously if they quote anywhere near what im paying on the credit cards i might as well just plod on paying them off.I dont think id bother if it is over 11.9% , any replys are appreciated

Treadmill

I'd avoid taking the secured loan if I was you, its never good to turn unsecured debt into secured debt.

Try posting on the Debt Free Wanabee forum, you can get some good advice there about dealing with debt.

jonesMUFCforever

I agree with Treadmill but if you decide to do it anyway why not re mortgage the whole amount with a decent lender rather than bolt on this to the rest.