Secured Loan

A secured loan is a loan that uses one of your assets as the collateral or security (usually your home or a vehicle). With this amount of security, lenders will be more willing to offer you a lower interest rate and a longer repayment period than they would if you were taking out a different type of loan. There are hundreds of secured loans available in the UK, so let SimplyFinance help you find the best secured loan to meet your needs.

Whether you need money to make home repairs, to purchase a car, to take a holiday, or for any number of other things, a secured loan may be the best loan option for you. Secured loans are a fairly common type of loan, so there are many, many secured loan offers available to you. It would take a lot of legwork and phone calls to visit each lender to find out what kind of rate they're willing to offer you. Let SimplyFinance do the legwork for you. Fill out a short form, and one of our loan specialists will put you in contact with a lender that will provide you with the best secured loan rate available.

Click here to get secured loan advice today!

Some Advantages of Secured Loans

• Lower interest rate than tenant or unsecured loans. Secured loans have lower interest rates because your lender is holding your house as collateral, so there is less risk in their decision to lend to you.
• Longer terms make payments more affordable. Secured loans often have longer payment terms, so your payments can be lower, but it'll take you longer to repay the entire loan.
• Available to borrowers with bad credit. Lenders will give a secured loan to people with bad credit because they hold the borrower's home as collateral. If they are unable to repay the loan, the house will become the property of the lender.