Secured Loan

A secured loan is a loan that is secured against a financially rich asset, typically a property. Secured loans can be used for a variety of purposes from debt consolidation, where they are often called secured consolidation loans or secured debt consolidation loans, to home improvements where they are called secured home improvement loans.

Typically secured loans are only available to homeowners who have sufficient equity in their home to repay both any mortgage and any loan secured on it. The advantage of this type of loan is that the typical repayments will be lower than on an unsecured loan, and that the repayment time can be anything from 3 to 25 years.

As secured loans offer less risk to the lender they are also available to those who have experienced credit problems in the past. The obvious reason for this is that should you default on your secured loan the lender has the right to re-possess your property.

For more information on secured loans please explore our site. To discuss your secure loan options with a trained advisor please fill in our contact form and one will contact you at a time that is convenient for you