Secured Loan

Secured loans available from £3,000 to £150,000 – Typical 17.9% APR Variable

Secured Loans or Homeowner LoansIf you want to borrow money for a home improvement like a new extension or perhaps a new bathroom or kitchen, or whether you want to take the holiday of a lifetime, it is possible to borrow using your home as security by taking out secured loans or a secured  home owner loan.

Secured loans are often dangerous for people with a poor credit history as the loan is secured against your home. This represents a high risk for you and a low risk for the lender and often means you would get a much better deal on interest rates than you otherwise would with an another type of personal loan.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

What You Need to Know about Secured Loans

  • The term of your new finance may be longer than the term of your existing credit
  • You may pay more back over the long term
  • The amount of monthly savings will depend on the type and term of credit you repay
  • The actual rate will depend on your circumstances, ask for a personal illustration
  • A fee of up to 10% may be charged.

Example: Loan of £15,000.00 over 300 months. Lender fee £295.00. Broker fee £375.00. Gross loan £15,670.00. Monthly repayment of £154.26. Total charge for credit £31,278.00

Larry is NOT the lender – If you would like more information or advice about secured loans, call today on 0800 118 2345 or submit your details using our secured loan enquiry form.

Apply online for secured loansPeople often use secured credit to consolidate personal debts such as credit card debts and store cards they may have outstanding.

  • A secured loan is a very dangerous solution to choose to clear personal debt.

You should be very aware that in a bad financial climate, house prices can drop, interest rates for mortgages can increase, which in turn means that you can become unable to meet repayments and possibly lose your home because you have secured your debts against it by releasing hard earned equity