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Choosing the right secured loan for you

Choosing the right secured loan for you

If you're looking for the cheapest secured loan, read on and find out all you need to know about the secured loans market in the UK.

Before searching for the cheap loans in the UK, it might be useful to brush up on the facts and get to know the market a bit better.

Compare secured loans

Compare a whole range of homeowner loans for borrowing between £3,000 and £80,000.

Compare secured loans

What is a secured loan?

By taking out a secured loan, you're borrowing money that is secured against your assets, usually your property.

It’s wise to consider very carefully before going down this route, as you could lose your home if you can't keep up the repayments.

Always make sure that the cheapest loans you find in the UK are low APR loans, so they don't become a very expensive one.

secured loans UK - best secured loans

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 cheapest loans available to you in the UK we work with a loan broker to widen the secured loan possibilities available to you.

The difference between personal loans

Unsecured loans Unsecure loans are also known as personal loans. These kind of loans aren't attached to your property, such as yout home. For this reason, they could be considered as higher risk for lenders as there’s no collateral for lenders to claim if you can’t repay them.

For this reason you will need to have fairly good credit, to offer reassurance to lenders of your ability to pay the loan back.

Even though the personal loan isn't attached to your property, once you take out a secure loan, you'll still agree to terms and interest rates.

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 range, from highly reputable merchant banks, to those who are little more than loan sharks.

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're prepared for some questions about your assets, you’re ready to go on to next stage.

Apply now for your cheap secured loan

Just go to our secured loans comparison service and when you find the cheapest loan in our results, click on "Apply" to start your loan application.

Compare secured loans with Uswitch

Compare a whole range of homeowner loans for borrowing between £3,000 and £80,000.

Compare secured loans

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