If you’re a UK resident aged 21 or over, and you own your own home, you are eligible to apply for a Tandem Home Loan. T&Cs and other eligibility criteria apply.

When you apply for a Tandem Home Loan, we conduct a soft credit search, which will not affect your credit score. However, if you are approved in principle for a loan and you accept your quotation, we will then conduct a hard credit search which will leave a record on your credit file that other lenders and organisations can see.

The rate you receive is based on your personal situation and is dependent on many factors such as your credit history, credit rating and financial status.

If you have taken out a secured Home Loan, your home is always at risk, as with any loan or mortgage secured against your property. Your home may be repossessed if you do not keep up your repayments.

A secured loan can be an alternative to a re-mortgage if, for example, you have a low interest mortgage which you don’t wish to move away from but need additional funds. But always consider all options out there, before securing debts against your home.

Consolidating existing debts means you will have a single monthly repayment and will know exactly when this is. You may also find that you can reduce your monthly outgoings if you are consolidating debts that have a higher interest rate than the loan you take. However, by consolidating your debt, you may increase the amount you pay back overall therefore extending the repayment period of your debts.

After a break of 6 months, if your circumstances have changed and you would like to apply again for a Tandem Home Loan there are no restrictions on you doing this. You can check your credit file at Equifax, Experian and TransUnion. You could contact Money Helper website for free, impartial advice.

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