FAQs - Consolidation Loans, Secured Loans, Homeowner Loans, UK-LOANS-SEARCH.COM

Secured Loans - FAQ

What is the difference between an unsecured and a secured loan?
As a homeowner, your property gives the lender some security. This added security means you'll often get a better interest rate on a secured loan, compared with an unsecured loan, because the lender sees it to be less of a risk.

Can I get a secured loan if I'm not a homeowner?
No, a secured loan can only be arranged using your property (home) as collateral. However, if you're not a homeowner, you can apply for an unsecured loan at a competitive rate. Click here to apply for an unsecured loan.

Can I still get a secured loan with a bad credit history?
As long as you are a homeowner and the value of your property is greater than your mortgage (in other words, you have some equity), a bad credit history won't necessarily exclude you from getting a secured loan. Because the lender has security, mortgage arrears, County Court Judgements (CCJs), payment defaults and other problems, such as no proof of income, are often less of an issue with a secured loan.

How do I apply for a secured loan?
Applying for a secured loan couldn't be easier. You can apply for a secured loan online using our simple form, right here.

What will happen after I apply for a secured loan?
First, our team of professional underwriters will assess your individual requirements and circumstances and will look for the best secured loan for you among our panel of lenders. We will always try to get you a decision in principle within 24 hours of your application. If you wish to go ahead, we'll keep you informed of the progress of your secured loan and let you know exactly what you need to do and when. You won't need any interviews and all the paperwork can usually be completed through the post and by phone. We'll do everything we can to make sure the process runs smoothly and you get the money as quickly and efficiently as possible!

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.

Our typical rate is 11.9% APR variable. This means 66% of our customers get their secured loan at this rate or better.