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Click here to get a quote today! Secured loans (sometimes called homeowner loans) are personal loans made by a lender (usually a bank) to an individual using some form of security (in almost all cases your home). Secured loans will only be offered to those who own a house - you are still eligible if you are paying a mortgage but the equity in the house (i.e. value of house - value of mortgage outstanding) must be sufficient to satisfy the bank. Secured loans are usually available from £1,000 to £50,000 but the maximum amount will dependent on your own personal circumstances and whether you come to special arrangements with the bank. Secured loans are available to be used in any way you want - you could even use a secured loan to start a business or buy and existing business if the business you are buying is too young to secure a commercial loan. The key thing to remember about a secured loan is your home will be at risk if you fail to make repayments on a loan, which uses your home as collateral. To get free, no obligation secured loan quotes, click here.
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