A secured loan is otherwise know as a homeowner loan. It is a loan secured against your property, which means that your home is at risk if you fail to make the required repayments. But a Secured Loan can often offer you a much more favourable interest rate.
Like any financial commitment, there are Pros and Cons which are attached, for more detailed information please speak to our All Clear Finance advisors on 0808 131 0038.
Secured Loan Pros:
Secured Loan Cons:
All Clear Finance have a strong panel of lenders, and our specialist loan advisors will do their best to find you a loan, no matter what you credit history. However, each case is unique, so the only way to see if you qualify is to contact us today.
The main difference between these loan types is that the secured loan is secured against something of value, usually your home. Whereas an unsecured loan is not secured against anything but usually carries a higher interest rate.
The amount that you can borrow for your secured loan depends on your personal circumstances, such as your house value and income. Contact All Clear Finance today and we will go through your finances and work out how much you can borrow.
The best way to start your secured loan application is to get in touch with All Clear Finance, our advisors will look at your options and will try and get you accepted for a secured loan which suits your circumstances.