Compare secured loans
Feel secure with secured loan
If you are not a tenant and are looking into taking out a loan for home improvements, debt consolidation or any other purpose, secured loan might be something that would be worth looking at. This is especially true if you would like to borrow a bigger sum of money. Just think about it: both you and your lender win because you get the money you need and the lender can feel safe if for some reason you had difficulties of paying the loan back.
What is exactly a secured loan?
Secured loan is a type of loan where a borrower makes an obligation by pledging an asset as collateral in case of default. The term secured is used to name lender's position here: this loan guarantees that a financial service provider will be able to get the money back in case the borrower failed to make payments. The contract of the secured loan states that a particular property is factored as a source for the lender to cover the loss if the client became insolvent. One's home is the most common asset pledged for the loan, but such property as car, business or land might also be an option. If an asset is your home and you're still making payments on your mortgage, then you can only secure a new loan on that part of your home that you already own.
How can secured loan be beneficial to you?
There are a lot of pros of taking out a secured loan. To begin with, a secured loan is probably the easiest to obtain in comparison to other loans. It is also a guarantee for the lender that they will get the money if the default took place. This fact makes a lender less hesitant about giving a loan to a person with less satisfactory credit. And this is one of the most important reasons why people with poor credit should go with a secured loan for their financial needs.
Furthermore, having an asset as a guarantee of no loss whatsoever, a lender is more willing to offer you a better deal, i.e. lower interest rate, bigger sum of money and longer lifetime of the loan. What is more, secured loan has a benefit of having no restrictions of the use attached to it. Secured loans can be used for any purpose on the contrary to other kind of loans that oblige you to spend the money in the particular way, e.g. home or car purchase etc. You can spend your secured loan for a new car as well as starting a business, paying your student fees, or going on the vacation you have always dreamt of.
How much can I borrow?
You could apply for any secured loan amount up to £75,000, for example £1000, £2000, £3000, £4000, £5000, £6000, £7000, £8000, £9000, £10000, £11000, £12000, £13000, £14000, £15000, £16000, £17000, £18000, £19000, £20000, £22000, £23000, £24000, £25000, £26000, £27000, £28000, £29000, £30000, £35000, £40000, £45000, £50000, £55000, £60000, £65000, £70000, £75000.
How can you apply for a secured loan?
If you want to apply for a secured loan, fill the form on the top of the page. It is quick and easy to make an online application. Just take a few minutes to complete the form so we can get a clear view of you, your finances and your needs. Our experts will assess your situation and get back to you with no obligation secured loan quote. It is up to you to take it or not.
- Typical 14.9%APR variable
- Rates from as low as 5.7%APR variable. Our highest for customers with severe credit problems is 39.9%APR variable.
- THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
- Loans subject to status and secured on residential property by way of second charge. Minimum age 18 years.
Loan comparison table
View a selection of rates and deals by checking out our Loans Comparison Table below. If you like to receive a personalized loan quote, please fill the form above.