A secured loan is any loan which requires you to provide the lender with some form of security other than just a promise to pay. This security might be any number of things including a mortgage, goods and property such as your home. If you borrow money using a mortgage or your home as security, you're agreeing that the lender can claim the mortgaged property or your home if you fail to keep up to your a agreement.

Because a secured loan is secured on property, most lenders will approve your loan even if you have a history of adverse credit such as county court judgements (ccjs), defaults and arrears.This make secured loans very attractive to people who would otherwise not qualify for a loan from their local bank.

You can borrow any amount from £3000 to £50000 (sometimes more depending on your circumstances and the lender) and repay it over any period from 3 to 25 years. You simply select a monthly payment that fits in your your current circumstances and goals. Generally, secured loans tend to be cheaper than unsecured loans and other forms of borrowing. This can save you a lot of money over time. Also, some people choose to repay the loan over a longer period of time and thus qualify for a lower interest rate.

Click here to apply for a low APR rate Secured Loan online.

Government Warning: Your home is at risk if you do not keep up repayments on a mortgage or other loans secured on it.