Loan is secured against your house or any other asset
Defaulting on repayments could place your assets at an increased risk
Failing woefully to carry on with together with your repayment routine will effect on your credit history
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Home owner prices, from 2.9percent
What exactly is a secured loan?
A loan that is secured a variety of loan guaranteed in full by a particular asset which you have, such as for example your property or vehicle. Long lasting asset, using down a guaranteed loan frequently means you can easily borrow additional money than you’d otherwise have now been in a position to as prospective loan providers see you as a far more reliable debtor with reduced danger connected.
Great things about picking a loan that is secured
Having a loan that is secured you’ll usually realize that payment periods are much much longer, rates of interest are reduced and credit quantities are greater.