What are secured loans… a secured loan is a loan secured by collateral. A first or second lien or charge is usually filed on the collateral by the lender.
Lenders almost always require an appraisal by a national appraisal firm acceptable to the lender for fixed asset loan.
If you are a Home Owner. (Sorry, This is not for Tenant loans) You are in full time employment or self-employed for at least 1 year. Minimum Advance 5,000 – Maximum Advance 250,000.
If you can produce items like payslip’s, accounts if self-employed, proof of address, ID, etc. and have a good credit history, we can get you a very competitive interest rate for your secured loan.
The secured loans rates will normally be cheaper than going with the unsecured loans option.
Since low rate secured loans can be secured on property, most lenders will approve your cheap secured loans even if you have a bad credit history, which make online secured loans very attractive to people who would otherwise not qualify for a secured loan from their local bank.
A bad credit secured loan is great if you want to raise a large amount; are having problems getting an unsecured loan or have a poor credit history.
You may be able to get a cheap secured loan even when you have been turned down for an unsecured loans.
How Secured Loans work
We now have access to lenders who in principle have the ability to lend huge sums of money. But the amount you can actually borrow depends on a number of factors:
- You should possess a mortgage on your property
- The financial institution will establish a maximum loan value as a proportion of the worthiness of your property
- You should have the ability to demonstrate you could afford the repayments for the loan value you need
- Your credit history will have an influence on the giving selection
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