UK secured loans market

The UK secured loans market can trip up the unwary. While there are many reputable providers who lend money responsibly and ensure customers only take a loan after understanding all the risks, there are providers who offer money with punitive terms that can drive the borrower into deeper debt. As your home is used to secure your borrowing and can be at risk if you default on payments, a secured loan should not be entered into lightly.

Applying for a secured loan available on the UK market is not something you should rush into. With your house at risk you need to ensure you look at all the available secured loan options and check the small print. You need to have a clear understanding of rates offered across the UK secured loans market, as what can look good on an advert may not stand up when compared to other loans in the UK market.

The secured loans market has three options available to borrowers:

• high street banks & building societies: a few traditional banks and building services also offer secured loans
• secured loan-only providers: there are secured loan only providers. There are also specialist loan providers who cater specifically for customers who have experienced credit problems
• secured loan brokers: a broker acts as an intermediary between a number of lenders who they work with and customers looking for a loan. Some loan providers only work with brokers

We understand you need to take an impartial and comprehensive view of the secured loans market before you can make the right choice. So as well as offering you secured loans that you can apply for directly, we also work with a broker to offer you a comparison of secured loans that would not be available to you otherwise.