Compare Secured Loans

Secured loans use your personal property assets (usually your home) as collateral. That means that if you fail to make your loan payments, your home will essentially be at risk.

Secured loans are popular for several reasons. it is possible to borrow large amounts, often as high as £250,000 for just about any purpose. The amount you can borrow will depend upon the amount of security you can provide. Unsecured loans are only available up to £25,000.

Also, those people with less than perfect credit ratings can apply. These bad-credit applicants are often granted loans, albeit at a higher interest rate than those with good credit history.

Secured loans are most useful if you have a number of high interest debts that you are paying off concurrently i.e. credit cards and store cards. Debt consolidation is a term used to pay off all these debts by taking out one loan to cover them all. The idea is that the secured 'umbrella' loan will be at a lower interest rate and therefore payments will be lower. It is also easier to manage one single loan with fixed regular payments than a number of separate loans over differing periods.

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