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What are the best secured loans or homeowner loans?

December 12th, 2019

Secured loans are another way to describe homeowner loans; with this loan you can borrow larger sums of money because your home is used as equity to avoid risk.

Compare secured loans

You can compare a range of secured or homeowner loans for borrowing amounts between £3,000 and £80,000.

Shop around and compare secured homeowner loans; if you resist being tempted by the first offer you see you are more likely to get the best deal.

Will a secured loan be available to me if I have bad credit?

Homeowner loans can be given more easily if you have a non-existent or bad credit rating; this is because the risk to the lender is minimised by being secured against your home; however, the risk to you is that you could lose your home if you fall behind on your monthly payments.

Secured loans are subject to prevailing market forces and the competition between lenders. Many providers will have fluctuating rates to attract customers tempted by low rates of interest.

Benefits

  • you have a better chance of being accepted for a secured loan than a personal loan
  • the interest rate will be more competitive than on a personal loan and more available to customers with a lower credit rating
  • the repayment term can be extended.

 The lender releases risk as he has the security of your property if you default on your payment.

How to secure the best deals

Until recently, comparing secured personal loans would have given you only a slim choice of providers. This arose as secured loan providers worked only alongside loan brokers; these loans were not directly available to the general public.

At FreePriceCompare, we work directly with reputable brokers and have a broad range of products in order that you can compare the widest selection of loans on the market.

By working only with trusted brokers and direct loan suppliers, we can build in better security for you and help you avoid borrowing from the wrong type of provider.

You need to have researched the market and made comparisons to be 100% confident you can keep up with the monthly payments long term. Therefore, this type of loan requires confidence, responsibility and commitment or you could face losing your home.

To get the most attractive secured loan deal

Use the FreePriceCompare loans comparison service to compare the best range of secured loans available and find the most attractive deal.

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