Second Home Loan

Common Questions about Debt Management

Please use this form only if all of the following are true:

1. You have total debts of £10,000 or more.
2. You owe money to two or more creditors.
3. You are a resident of England or Wales.

UK Debt Management Application

EraseDebt can help you find a debt management company that can help reduce your monthly payments by up to 75%!
We help people who have a poor credit rating as well.
Getting help from us will only take a minute, with No Obligations to accept.

Take the First Step in Getting Out of Debt Now by filling up this Simple Form!


First Name		Last Name
Tel no.
Mobile no.
Home No. & Street
Postal Code
Contact Time
Monthly Income £		Total Owed £
No. of Debts
Email Address
(Please fill up every field of the form to allow us to help you) Did you know you can use a second home loan to consolidate your bills? You can even borrow more than your house is worth, up to 25%. This can be a very helpful scenario, especially if you've run into a tight spot and have too many bills piling up every month. What happens is with a second home loan, you can take cash out to do whatever you want with, so you can put enough money towards your bills and then have some left over to do a few repairs or celebrate over a nice dinner out. How much can I borrow? With a second home loan, most lenders will let you borrow up to 125% of the value of your home. However, your ability to borrow cash with a second home loan will vary based on your credit score and value of your home. Be sure not to let a lender give you money based only on the value of your home or you will be stuck with a large payment every month that you can't actually afford. Make sure you take into consideration your ability to repay the debt, regardless of what the lender says. How do I consolidate my bills? You can consolidate your bills with a second home loan by simply taking the cash from the loan and paying off all of your credit card or other debts. This way you will most likely reduce your monthly interest payment from the typical 19% on a credit card to 10% or less by using the second mortgage loan to consolidate your bills. This reduction in interest will not only save you money on interest but you will be able to pay off your debt more quickly in one easy monthly payment. .