Secured loans are basically loans that are secured against property. Before lending you money, the lender requires that a charge is placed on the property effectively guaranteeing the loan gets repaid should you be unable to maintain the payments. This means the whole loan carries much less risk, as far as the lender is concerned, when compared to an unsecured loan.
If you are a homeowner and have sufficient equity in your home, you may be eligible for a secured loan. By using the equity in your home as security for the loan, you can obtain finance that you would not probably be able to achieve though using an unsecured loan.
A secured loan can offer you.....
- Rates from 7.9% APR (good credit only).
- Borrow up to 85% of property value (7.9% rate only available up to 65%).
- Fast decision in under 1 hour.
- Simple 1 minute application form.
- Terms available from 5 to 25 years.
- No upfront fees.
There are possibly hundreds of reasons why you want to borrow some money. You might be looking to raise funds to carry out a major home improvements project, purchase a new car, cover the costs of a wedding, that dream luxury holiday or just be looking to consolidate all of your debts. The list can go on.
The benefits of secured loans
Secured loans are available up to £100,000 making them useful for borrowing sizeable sums of money that are outside of the scope of personal unsecured loans, which usually have a maximum loan limit of £15,000. Effectively they could be known as secured personal loans.
Other benefits of this type of borrowing are that the loan can often be repaid over a long time period, making them more manageable to afford. Rates are usually quite attractive too as lenders are not exposing themselves to too much risk.
Quite often secured loans can be easier to obtain than personal loans. Once again, this is down to the lessened risk to the lender who is safe in the knowledge that he could always recover his money if necessary by forcing the sale of the property put up as security. This would only ever be as a last resort as the lender would always work with you to try to resolve the problem by other means.
Secured loans are also a useful tool when it comes to debt consolidation. If you have a large number of existing debts, be that through other loans and/or credit cards and store cards, it can often pay to replace them all with one new loan. Not only does this make managing your finances a whole lot easier as you now only have the one repayment to make, but more often than not you can save yourself hundreds of pounds each month as the interest rate of the new loan is likely to be considerably lower than the interest rates on the credit and store cards. You can also engineer the term so thet the new monthly repayment is low enough for you to manage easily without stretching your finances, and actually free up some disposable income for you.
Secured loans from Loan Arrangers
Loan Arrangers (www.loan-arrangers.co.uk) are not tied to any particular lender giving us the advantage that we can research the entire secured loans market to source you the best available loan to suit your requirements. We only deal with the most reputable finance houses, most of which are owned by the big banks.
- Loan plans available for the self employed.
- Secured Loans from £5,000 to £100,000
- Fast and friendly service
- Cheap loan rates - fixed rates available
- Bad credit history no problem
- No upfront fees
Find & compare the best loans available
Use our loans comparison service to find the cheapest loan available to you. All you need to do is complete our short application form, and we will have an answer for you in about 30 minutes with a no obligation loan quote!
Alternatively, why not give us a call to discuss your requirements in more detail.
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