If you’re looking for the best secured loan rates, read on and find out all you need to know about secured loans in the UK.
Before searching for the best secured loans in the UK, it might be useful to brush up on the facts and get to know the market a bit better.
Learn more about secured loans in the UK market and if you should opt for an unsecured loan instead.
What is a secured loan?
By taking out a secured loan, you are borrowing money that is secured against your assets, usually your property. So it’s wise to consider very carefully before going down this route, as you could lose your home if you cannot keep up the repayments. Always make sure that the cheapest secured loan you find in the UK does not become a very expensive one.
Why choose a secured loan?
Secured loans are a tricky market, where many lenders are only willing to work through brokers. To ensure you have a good chance of finding the best secured loan rates available to you in the UK, uSwitch works with a loan broker to widen the secured loan possibilities available to you. This loan broker has been carefully selected to ensure you receive the highest level of service.
Secured loans comparison – how to find the best secured loans
The UK secured loans market is full of pitfalls for the novice or the unwary, as it’s full of lenders who run the whole gamut from highly reputable merchant banks to those who are little more than loan sharks.
But don’t worry, because this is where uSwitch.com can help.
Once you’ve identified a cheap secured loan by using our secured loans calculator we will then refer you to a loan broker that we have vetted.
Is the cheapest secured loan always the best secured loan?
Before searching for the cheap secured loans, you need to be honest about your loan requirements. For instance:
- Will you take a secured loan from a lender you have not heard of?
- How much can you afford to borrow and pay back?
- What happens if you want to pay back your loan early?
Once you’ve understood and assessed your circumstances against these pointers and you are prepared for some questions about your assets, you’re ready to go on to next stage.
Apply now for your cheap secured loan
It’s easy. Just go to our secured loans comparison service and when you find your cheapest loan in our results, click on “Apply” to start your loan application.