Secured Loan

A secured loan is a loan that is secured against property - for homeowners. This means that it is lower risk and therefore a more competitive rate of interest is offered and that the person taking out the loan uses their home as collateral. Secured loans are on average available for amounts between £5,000 and £500,000 and payable over anything from 3 to 25 years depending on the monthly repayment amount. A lump sum will be loaned in return for you agreeing to make regular repayments. This interest charge on a loan is expressed as an APR (annual percentage rate). The present APR 5.7% but it will vary dependent upon the amount of the loan and sometimes the term as well. Usually the rate is fixed on your loan repayments and will remain the same throughout the period of the loan. These tend to be generally at a lower rate than unsecured loans because of the collateral against the loan. There is absolutely no obligation and we strive to give you a decision within 24 hours.

 

Click Here To Apply For A Secured Loan