Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible.
Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.
Based on your information we recommend you speak to a personal debt adviser.
They will offer you advice on:
Whether a loan is your best option
Consolidating your debts
Reducing the amount you owe
How to freeze your interest payments
Protecting you from creditors
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Those with debt need to be aware of all options
People who are looking to clear their debt should make sure they educate themselves on all available options for doing so, it has been claimed.
Iain Wrenshall, director of Debt Help UK, said that it is "incredibly important" to understand the various solutions available, as this awareness allows people to take a lead role in their financial planning.
He explained that as a situation involving debt "degrades", a person's range of choices tends to narrow "and ultimately your creditors have the sanction to make that choice" instead.
"So it is important that people don't bury their heads in the sand, but look for free advice which is going to help them understand the solutions and the options open to them," Mr Wrenshall concluded.
The average UK household owes around £56,234, including mortgages, according to figures from Credit Action.
