Secured Loans

A secured loan is a loan that is secured against a financially rich asset, typically a property. Typically secured loans are only available to homeowners who have sufficient equity in their home to repay both any mortgage and any loan secured on it. The advantage of this type of loan is that the typical repayments will be lower than on an unsecured loan, and that the repayment time can be anything from 3 to 25 years.

As secured loans offer less risk to the lender they are also available to those who have experienced credit problems in the past. The obvious reason for this is that should you default on your secured loan the lender has the right to re-possess your property.

For more information on secured loans please explore our site.