Secured Loans

Secured loans are personal loans made by a lending bank to an individual using a form of security. In almost all cases, this is your home.

Secured loans are normally available from £1,000 to £50,000 but the amount loaned will generally be determined by your personal circumstances. Such loans allow individuals to combine all their debt into a single loan with one monthly payment, making them an effective debt consolidation tool.

Longer repayment terms are available than is the case with unsecured loans. Even for people with a poor credit history, secured loans can offer a successful solution to your problems, although you may find yourself faced with a higher rate of interest.

The most important thing to remember with a secured loan is that your home will be at risk if you fail to make repayments because the loan uses your home as collateral.

More information on Unsecured Loans

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