Why would I want a secured loan

Written by renxue January 09, 2008 16:50

A secured loan is secured on your property, so you may be worried about the risk involved. As simple as it sounds, you can't lose your home if you keep up the repayments. As a responsible broker, we make sure you can afford the repayments- and often we can reduce your monthly outgoings. We also offer a range of insurance products to protect you if you are unable to work because of accident, illness or unemployment, as well as life insurance.

There are many possible benefits to a secured loan, for example payment holidays (where you can stop making repayments for an agreed period). However the biggest benefit is cheaper borrowing.

With a secured loan, lenders are able to offer larger sums (depending on the value of your property). Secured loans can also be repaid over a longer term than unsecured loans, which can make the loan more affordable.