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Secured UK Loans

Secured Loans - or othe wise know as Home Owner Loans.Secured loans make it possible for owners of homes to borrow money with some of the risk against the value their property. On a functional level this means that anyone taking out a secured loan is using his or her property as guarantee for the loan. If the borrower constantly fails to make repayments on that loan the penalty could be devastating. On the other hand; secured loans do have a number of definite benefits over a lot of the other types of borrowing. Lower risk to them, means that banks and building societies can pass-on some of their savings (made on insurance etc) to you, by offering much better loan interest rates to property owners. However, desirable Annual Percentage Rates aren't all secured loans have got to offer.

Benefits of a secured loan

In today’s market secured loans come with a selection flexible repayment terms, so its' important to be alert when reading the small print of your loant terms to be sure to look out for include: ‘payment holidays' whereby you are able to halt loan repayments for an agreed period of time in order to invest capital somewhere else (say to help with the costs of a wedding or newborn child) and encouraging redemption charges - so it won’t go against you if you want to pay the loan back early.

Secured loans are spread over a far greater timeframe than unsecured loans, which means that the lenders are far less likely to come down on you forcefully if you default (miss payments) on the odd loan repayment. If you are unsure as to weather or not you can pay back the loan you should not be taking it on. Repayment terms on a loan of up to 30 years also mean that it's easier to balance your finances, so that you shouldn't come across any nasty surprises.

A few things to consider

With your property as security on a loan you'll find that lenders are prepared to offer you a much larger sum. Unsecured borrows (with a good credit history) can expect a maximum loan of £25,000. On the other hand; loans offered to secured loan borrowers are calculated according to the value of their property, which can involve some complicated calculations.

Before embarking on the taking out of a secured loan it is worth getting council from an independent financial advisor to obtain an overview of other borrowing options. It may turn out that it makes financial sense to consider re-mortgaging your property, or opting to take a home equity loan.

People often think that bad credit means that they won't be able to get a loan. However, homeowners with bad credit histories (as a result of having a "County Court Judgement" made against them or defaulting on credit card repayments) shouldn't run into any difficulties when applying for a secured loan. Do you know if you have any CCJs?.You can Find Out Here FREE

Freedom Finance

Self Service Loans are one of the largest loans broker in the UK. They have access to a wide panel of lenders and have exclusive deals with some of them.

Self Service loans offering a self service loan to Homeowers, Employed and the Self Employed

Loans for amy purpose, loans start from £5,000 to £100,000
no upfront fees.
APRS from 10.5% to 29.9%
14.3 Typical Varaible rates....

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