Wanting to raise money for home improvements with poor credit - secured loan maybe?

kareno

I really want to get double glazing windows and doors in my house, we've got old metal windows and have been feeling the cold. We have a bad credit rating but have never been bankrupt or had CCJs. So my question is, how do I find the best secured loan we could get? We did have one before with Swift but would prefer to go somewhere else this time. Thanks in advance everyone

_Andy_

Not enough info to go on. How much do you currently owe on the mortgage and realistically how much is the home worth?
How much are you wanting to borrow?
What was the adverse credit exactly?

kareno

Hi Andy, sorry for the lack of info. There is just over £11,000 owing on the mortgage, haven't had the house valued but the one next door is up for sale for £162,000, the only difference I think is they have the double glazing. I think we'd need to borrow around £3000.
The bad credit comes from missed and late payments on credit cards.

_Andy_

If just £11k you'd be better off just remortgaging - secured loan rates will be much higher. You may find though not many lenders will do such a small amount- worth speaking to a broker

kareno

Thanks a million for the advice, I'm going to look into remortgaging, have never done it before so have no idea where to start

welshmoneylover

Please be careful, many homes have been repossessed as a result of remortgaging.