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What is a Secured Personal Loan?

A Secured personal loan is simply a loan that is secured - usually against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan, or, have a poor credit history. Lenders can be more flexible when it comes to secured personal loans, making a secured personal loan possible when you may have been turned down for an unsecured personal loan. Secured personal loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime. 

Benefits of Secured Personal Loans include: 
Lower monthly repayments than unsecured personal loans 
The ability to borrow more money 
Spread repayments over a longer period of time 

You can usually borrow any amount from 5,000 to 75,000 and repay it over any period from 5 to 25 years. You simply select a monthly payment that fits in your current circumstances. Generally, Secured personal loans tend to be cheaper than unsecured personal loans and other forms of borrowing. 

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What is a Personal Loan?

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What is an Unsecured Loan?