Hi Julia08

The options available to you will very much depend on a) how much you are looking to borrow b) how long you want to pay the loan over c) the amount of equity you have available in your property and d) What your credit rating is.

With the markets being the way they are at the moment obtaining an unsecured personal loan is becoming increasingly difficult. The latest research shows that aprox 50% of all Personal Loan applications are being declined compared to about 30% earlier in the year. This is down to a lack of funds so the banks are cherry picking the customers they perceive to be the lowest risk.

If you have a good/excellent credit rating and you are looking to borrow under £25,000 with a term of 7 years or less then an unsecured option may be beneficial to you.

If you are outside the above loan amount/term then a Secured Loan may be worthwhile. Whether moving from FirstPlus is the better option for you will depend on your ability to get a better rate elsewhere.

Could you confirm

How much you have outstanding How long you have left on the loan What interest rate you are currently paying Your property value and mortgage balance

Knowing the above details will give me an indication of whether you meet the basic criteria for Platinum.

Thanks