The points to note are if there are no serous redemption details associated with your loans then you can repayment and simple swap one APR rate for another rate. Note that a secured loan may appear to be a higher rate than you are currently paying however this will be extended over a longer term and will not punish you for over payments or early repayments. Another point to note is if you have missed any payments on your current loans or mortgage you will be automatically placed onto a high risk zone. The high risk zone means that you will have to pay a higher APR as the lender is take the risk that you might never repay the loan. Remember, always tell your creditors if you are having problems making your repayment and never, every miss a mortgage repayment. Doing so could change your chances of getting a 10% APR loan and repaying it with an 18% APR.

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