Secured LoansEverything You Need to Know

By: Www.24hourfinance.co.uk

FACTS ABOUT SECURED LOANS

• Secured loans are available to UK homeowners aged 18 to 65 years old.
• Secured loans range from ?1000 to ?1 million.
• Secured loans can be repaid over 3 to 30 years.
• Secured loans are a solution if you’ve been declined an unsecured loan.
• Secured loans can be used for short-term cashflow problems, consolidating debts, home improvements, cosmetic surgery, new car or motorbike, holidays and lots more purposes.
• Secured loans can be used for almost any purpose; the most popular reason being debt consolidation in the UK.
• Secured loans take 2 to 4 weeks to arrange.
• Secured loans can be arranged by applying on the internet or telephone.
• Secured loans are available to people with adverse credit history.
• Secured loans are available to self-employed people with no proof of income.

Other wise known as self-certification loans.
• Secured loans are available to homeowners with no equity.
• Secured loans enable you to release equity in your property.
• Secured loans can be obtained via major high street banks or loan brokers. Loan brokers search for loan deals from niche lenders on your behalf, in exchange for a “broker’s fee" payable on completion. The broker’s fee is usually paid by the lending bank or customer.
• Secured loan interest rates can vary from 6.9% APR to 30% plus dependent on your credit history. It’s a good idea to compare rates from different lenders before applying.
• Secured loan repayments can be insured, protected against unemployment, sickness, accidents and death.

IMPORTANT FACTS
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

It’s very important that you can afford your loan repayments.

It is estimated that, in 2005, over ?8.8 billion of secured loans will be used for debt consolidation purposes.  currently lists a number of FSA regulated secured loan brokers and lenders.

USEFULL LINKS - SECURED LOANS IN UK

Secured Loans
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