Secured Loans

Any Purpose Secured Loan?

In the UK there are two categories of personal loans. One type is an unsecured loan, and the other is a secured loan which is sometimes refered to as a homeowner loan.

Finance companies, banks, building societies and others can provide unsecured loans. To arrange the majority of unsecured personal loans, a credit scoring applications system is used by lenders. This system gives points regarding various details such as how long you have lived at your current address, your age or proffesion. In addition, your credit reference can sometimes be checked for more information. Unfortunately, the credit scoring system can be rather unfair. Even people who can be trusted, have well payed jobs and have always made their payments can be refused a loan because they fall below the credit score necessary.

Even not having a landline phone, being in either your job or house for under 6 months could result in a rejection. Every year, literally thousands of people are refused loans by credit scoring systems. Secured loans on the other hand, do not usually require you to go through this process.

So people refused unsecured personal loans could in fact aquire a secured personal loan. Secured loans have even more advantages. Interest rates for secured loans are actually lower than they would be on a similar unsecured loan. Also consider the other advantages, such as:

• Being able to pay off your secured loan over a longer period and with a smaller repayment each month.

• That because your house secures the loan, you may be able to get a more substantial loan than with an unsecured loan.

• That the chances of the typical homeowner obtaining a secured loan are greater than an unsecured loan.

• That if you are self-employed, you will be able to get a competitive secured loan whilst not having to provide three years of audited accounts.

Homeowner:
Loan Amount:
Loan Purpose:
Title:
First Name:
Surname:
Date Of Birth:
Annual Income:
Marital Status:
Partner Details
Required:
First Name:
Surname:
Date Of Birth:
Annual Income:
Job Length

Home Phone:
Evening Phone:
Email Address:
House Number:
Postcode:
Value of Property: