Debtbuster Loans

Debtbuster loans are primarily aimed at homeowners looking for a secured loan. They do, however, also offer personal loans for tenants.

Interest rates start at under 8.4% which one in 10 clients receives. The maximum rate is 19.9% with most customers getting 12.7% or under.

Loan amounts range from £3,000 to £100,000. However, the maximum you can borrow will depend on the value of your property and the amount of debt you currently have secured on it. You can borrow up to a total of 125% of your property's value, including your current mortgage.

For example, if your house is worth £100,000 and your still owe £75,000 on your mortgage, you may be able to borrow up to £50,000, making the total of secured debt £125,000 - 125% of your property's value.

Debtbuster loans do not charge any up front fees such as survey and administrative fees. You can also pay off your loan early if you choose.

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Summary Table

Interest Rate	Typical 12.7% APR Variable
Repayment Terms	3 to 25 years
Loan Amounts	£3,000 to £100,000 Up to 125% of the value of your property
Secured?	Yes
Online Account Access	No
Early Payment Penalty	No

Credit Sources Review

Debtbuster Loans offers a good selection of secured and homeowner loans for you to use for any purpose you choose.

Their rates seem to be reasonably competitive but you may be able to find a better rate if you shop around. However, they don't have any up front fees which can be a big advantage for many people, plus they do allow early repayments of their loans.

For those with bad credit, applications are accepted, although, your interest rate is likely to be quite a bit higher than the typical rate with a maximum rate of 19.9% Variable APR.

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