Secured loans can be used helps to unlock equity in your home or commercial property; this type of finance is usually a lot cheaper than non-secured options and can be used for a wide variety of purposes such as buying a new vehicle, debt consolidation and even business financing.

Salford, Lancashire -- (SBWIRE) -- 09/23/2013 -- Credit is hard to come by for some individuals and businesses at the moment, the rising cost of living means that some families are struggling to make ends meet. A secured loan could be the answer for some, secured loans can be used to raise funding for virtually any purpose like reducing monthly outgoings, secured finance is often much cheaper than unsecured finance.

Secured finance enables you to make your monthly obligations more affordable by consolidating credit cards, personal loans, etc. into one monthly payment. The reason secured finance offers better rates is because it carries less risk for the lender, when you sign up for a loan secured against your house your lender is obtaining what is known as a charge against the property. A charge means that the lender should get their money back once your property is sold even if you do not keep up with payments and default on the agreement.

Baker Financial are specialist secured loan advisers, the company are having great success helping their clients obtain secured finance. Baker Financial speak of this success on their secured loans page, www.bakerfinancial.co.uk/secured-loan.html. They say that they can even help customers with adverse credit histories, "as secured loan specialist's, we have access to specialist lenders who are able to judge each case on its own merit, we understand that everyone's circumstances are different and with access to prime deals and none confirming or adverse credit lenders, our market leading advisers can find the most appropriate deal for your situation, saving you time and money in the process."

A bridging loan is one type of secured finance that Baker Financial advises many clients on, the company say this type of finance has very low borrowing costs, rates start from just 0.75% for some clients. Details of the bringing loans that Baker Financial arranges can be found by visiting www.bakerfinancial.co.uk/bridging-loan.html.

About Baker Financial
Established in 2005, Baker Financial have many years experience in helping clients secure credit. They warn clients to think carefully before securing debts against their home and they always make sure that their clients understand the risks and are comfortable with repayments, etc. If you are a home owner, struggling with your outgoings, would like to save money or need to raise finance for any purpose give Baker Financial a call on 0845 094 2331.

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If you have a bad credit rating, defaults or CCJs (County Court Judgements) registered against you, you will probably find it very hard to get a personal loan or credit card if you can find a lender that is willing to loan you money they will almost certainly charge you higher rates of interest than if you had a good credit rating. If you are a homeowner and have a bad credit rating, an experienced advisor believes that a secured loan may be the solution to unlocking more affordable rates and actually getting the money you need.

Salford, Lancashire -- (SBWIRE) -- 07/19/2013 -- Contrary to popular belief, there is no such thing as a credit blacklist, every lender scores their potential customers differently and some lenders have more strict lending criteria than others do. In the UK, there are three main credit rating agencies. Of these agencies, Experian is probably the biggest and most well-known.

The credit rating agencies collate data from various sources such as the court system, the electoral roll, banks and other financial institutions. Every time you borrow money or apply for any form of credit these agencies are notified. The agencies are also told how you service debts that are in your name, the agencies know the balance that you owe, if you make payments on time and whether you default (don't meet your obligations under the credit agreement), etc. All the information collated about your financial behaviour is used to build up a picture of you and your creditworthiness – this picture is called your 'Credit Rating'.

Using the information that they obtain from the credit rating agencies banks can determine whether you are a good or bad credit risk and whether it will be profitable for them to loan you money or not. If they are not going to get their money back it will obviously not be profitable for the lender to give you a loan, credit card, etc. and they will either refuse your application or charge you a higher rate to compensate for the risk. With a secured loan, the lender takes what is known as a charge on your property.

A secured loan is less risky for the lender because if you do not pay they are guaranteed to get their principal back once the house is sold or by repossession. It's important that anyone obtaining a secured loan ensures they can meet the repayments; thanks to the lower risk involved lenders are more comfortable lending to homeowners with bad credit and usually offer them better rates than they would offer unsecured borrowers.

About Baker Financial
Baker Financial specialise in helping clients with bad credit to obtain secured loans http://www.bakerfinancial.co.uk/bad-credit-secured-loans.html. The company say that their clients use secured finance for various purposes including debt consolidation, home improvements, credit repair etc. Baker Financial says that they have helped many clients who have suffered previous adverse credit to obtain affordable credit.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

A secured loan helps to unlock equity in your house; this type of loan can be used for a wide variety of purposes such as home improvements, business financing, debt consolidation and credit repair.

Salford, Lancashire -- (SBWIRE) -- 05/14/2013 -- Times are tough for many people at the moment, if you own your own home and have equity in it a secured loan can be used to reduce your monthly outgoings in the short-term and even save you money over the long-term. A secured loan enables you to consolidate credit cards, personal loans, etc. the interest rates on this kind of none secured debt are often much higher than the interest rates available to home owners. Store and credit cards are not a good option for longer-term, hard-core borrowing since they often carry very high rates of interest.

When you take out a loan secured on your house the lender is taking what is known as a second charge on your property, a second charge means that the lender will still get their money back once the property is sold even if you do not keep up repayments on the loan that you take from them. Credit cards, store cards and personal loans are usually not secured on anything at all; this means that the lender is taking more risk so interest rates on unsecured credit are often much higher. Secured loans don't only offer better interest rates than unsecured loans, they can also be taken over longer periods this means that monthly payments are probably a lot less than you are paying now and much more affordable.

Although the recent financial crisis has reduced the amount of equity available in most people's homes and made secured loans difficult to get, one advisor says that they are having great success in helping their customers.

Baker Financial are experts in helping clients get approved for many different types of secured loans, they say their clients use this finance for various purposes including debt consolidation and credit repair, the company say that they can even help clients who have missed payments, etc. in the past by finding them bad credit secured loans. If you are struggling with your monthly payments, would like to save money on your interest payments or just want to make some improvements around your home give Baker Financial a call on 0845 094 2331.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm