Secured Loans

Posted by & filed under .

Are you looking for a secured loan to suit your individual needs?

Most companies can get you the loan you need no matter what your circumstances!

A secured loan is a loan secured against an asset such as your home. The amount you are allowed to borrow usually depends on the equity in your home.

Secured loans are always easier to obtain, more flexible in their terms and carry lower interest rates with a larger choice of repayment periods than unsecured loans. And with loan monster there are no upfront legal, survey or other fees.

A secured loan can be called several different things:

a homeowner loan, a second charge loan – as a homeowner your loan, secured on your property through a second charge, will not disturb your existing mortgage – or a first charge loan, which is a loan charged to your property when it has already been paid off in full.

You get such low interest rates with secured loans because your house provides security on the loan. But the interest rate also depends on how much you borrow and your personal financial circumstances. Loan monster can search for the lowest possible interest rates available, and can minimise your monthly repayments by offering you repayments.

Advantages

Secured loans are beneficial for many reasons.

First of all, they are much easier to get because of the security provided by your home. If you require a large loan or find yourself in a shaky financial situation you can more easily get the loan you need through secured financing and will probably be approved. Secondly, due to the fact that a secured loan has less risk for lenders that provide them you will be offered better terms than for an unsecured loan.

For example, they tend to have longer repayment periods, higher loan amounts and fantastic interest rates. A secured loan can provide you with many options. Once you have the cash in your hands you can pay off debt consolidation loans or a car loan, or apply it to a home renovation or to fund other important expenses.

Use comparing sites when applying for a loan to find the most competitive interest rate available to suit your personal circumstances. You can be assured that you will find something to suit your needs.