OUR TYPICAL, VARIABLE RATE IS 10.9% APR. RATES RANGE FROM 7.25% APR to 27.60% APR

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

All loans subject to status in the UK to home owners aged 18 and over and may be secured on property.

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Secured Loans

If a potential borrower owns their own home and are confident of making the repayments in good time then a secured loan is generally the most beneficial option. Unsecured loans are charged at a higher rate of interest based on the individual circumstances of the applicant, and generally will not stretch to the amounts that some people may be looking for. Unsecured loans are generally offered by lenders for the benefit of tenants, students and those with poor credit histories. Each of these types of borrower are considered a higher risk than a homeowner and so the lender charges more in terms of interest in order to offset the additional risk.

Secured Loans Application

If you own your own home you are seen as a much more secure option. Lenders see you as the perfect client as when a loan is taken out the repayment and interest is guaranteed, even if a court case is necessary for final collection. The use of the home as collateral is like a gamble: the borrower is betting that they can repay the loan and is willing to stake their house on it. If they lose the bet they lose the house. It is a bizarre analogy, but it is also a realistic one.

The fact that a borrower's home is at risk means that much thought must be devoted to assessing whether a loan is appropriate. Taking out a loan that is almost impossible to repay is practically signing away the deeds to your home. Think long and hard before committing to the loan and ask guidance from the professionals if possible.