Secured Loan Lenders
Where can you get secured loans from in the UK?
Well, there are a host of lenders including all of the major building societies and banks. At Moneybright, we’re constantly researching secured loans lenders to bring you the most up to date information we can.
Disadvantages of Secured Loans
The main disadvantages of secured loans are:
- You have to be a homeowner in order to be eligible, completely ruling out secured loans for those without property
- If you fail to make repayments, your home could potentially be repossessed
Benefits of Secured Loans
The main benefits of a secured loan include:
- Generally lower interest rates. Because the lender has a level of security that unsecured loans offer, secured loans tend to have more favourable interest rates for the consumers
- You can borrow larger sums than with unsecured loans in most cases