Secured Personal Loan

No fee or obligation get your secured personal loan through an Independent Loan Broker. Employed, self employed, retired and poor credit history all accepted.

These can be for any amount from £1000 to £1 million.

When we receve your completed short application form, we will search the market (both main stream and specialist loan companies) to find the best rate for your circumstances. There is no charge for this quote and you do not need to accept it if you've had a better loan offer elsewhere.

The loan is secured against your home and the loan can be used for absolutely any purpose. Because it is secured, people with bad credit (ie arrears and defaults etc) can be accepted for this type of loan.

So, why do people take out secured loans?

Well, firstly you may want to borrow money in order to increase your home's value by making improvements to your home.

Others may take on a debt consolidation loan, which means that you take on a large loan for a long period which pays off your other loans and credit cards and you end up paying a smaller monthly payment than you were paying with all of your other loans together.

Secured personal loans offer lower interest rates, due to the lower risk that is being taken on by the loan company.

Please click here to read about credit scoring and credit history.

Please click here to read about the different types of loans available.

If you are a homeowner, then a secured loan could be the loan for you. They are a larger risk for the borrower since your home is put up as collateral. If you fall into any difficulties repaying the loan, your home could be at risk.

However, it is also true to say that if you are a home owner and you defaulted on an unsecured loan then the lender may take steps to seize your home in order to cover the debt anyway. In essence, the easiest thing to do is to ensure that you can comfortably repay any loans that you take out. If you do this, then it makes sense to take a secured loan in order to benefit from the lower interest rates that are available for this type of loan.

The application process is a lot longer when the loan is secured rather than with an unsecured loan, due to the fact that your loan provider will need to value your home. The cheaper rate that you should get can make this worth the wait. It is easier for you to be approved for a secured personal loan because you are betting your home that you can make your repayments. It is very likely that your loan is far smaller than the value of your home, so the loan provider will like those odds and see it as less risk. Financial product providers like less risk, and especially like shared risk.