Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Warning: Late repayments can cause you serious money problems. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it. Click here for a representative example.
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Sorry, these loans are for homeowners.
Don't worry though, there are other loans available.
Warning: Late repayments can cause you serious money problems. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it. Click here for a representative example.
Based on borrowing
£18,000 over 120 months. Interest Rate: 6.5% fixed
for 60 months with instalments of £227.38. Followed by 60 months
at the lenders standard variable rate of 4.95% with instalments of £221.71
Total amount payable
£26,945.40 comprised of; loan amount £18,000;
interest £6,920.40; Broker fee and Lender fee
Fees
Broker fee £1,530; Lender fee £495
Overall cost of comparison
9.1% APRC
Our secured loan partner Fluent Money will be processing your loan application.
They are authorised and regulated by the Financial Conduct Authority. Registration number
458914.
Money Guru are an IAR (Introducer Appointed Representative) of Fluent Money Ltd.
A broker fee up to 11.5% may be added to your loan.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
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Compare Secured Loans
Are you thinking of borrowing a larger amount of money over a longer period? Or are you struggling to apply for a personal loan due to a poor credit history? A secured loan might be the answer you’re looking for.
What is a secured loan?
A secured loan is a personal loan where your home is offered as security, reducing the risk to the lender if you don’t manage your repayments.
With secured loans you can often borrow more and over longer periods, sometimes as long as 25 years, although it depends on the lender.
Because this kind of borrowing is lower risk to the lender, it is sometimes an option for people who are self-employed or who have a poor credit history. As long as you can keep up with repayments, it’s often a good decision to use secured loans for bad credit, as this can help improve your credit rating over time.
Is a secured loan right for me?
With any loan or credit product it’s really important to make sure it’s affordable and manageable but with secured loans this is essential.
If you default on your loan, then you risk losing your home, so it needs to be a debt you can afford to repay both now and in the future. Until it’s cleared, it will need to be a priority bill each month.
The amount you will pay for a secured loan depends on your personal circumstances, how much mortgage you have left to pay, the amount you want to borrow and the time you want to borrow it over.
How do I find the best secured loan for me?
As with any borrowing, it’s vital you compare secured loans online or with a broker to make sure you have found the best rate available to you.
If you’re borrowing a large amount or over a longer term then even a slightly higher rate can mean you pay hundreds of pounds extra in interest, so comparing secured loans and finding the lowest rate available to you is really important.
Using our Money Guru moneymatcher service can help you work out which lender will offer you the best rate without leaving a mark on your credit file, so you know which lender can offer the most appropriate loan for you.
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