Lenders may offer lower interest rates if you secure a loan against your home. This means the lender will have a claim against your home if you default on the loan payments.

A secured loan has several advantages compared to an unsecured loan. A secured loan is easier to obtain, even if you have an adverse or bad credit history. Mortgage arrears, payment defaults, even CCJs won't necessarily stop you from getting a secured loan, although the terms, particularly the interest rate, will reflect your financial history and present circumstances. If you have a good credit history, many lenders will offer secured loans of more than the equity in the property, sometimes up to 125%, so if your home hasn't increased in value as much as you had hoped, or a remortgage isn't practical, a secured loan could offer you the best deal.

With a Secured Loan you can borrow for any purpose, you can consolidate credit card and other debt to reduce monthly payments. Secured loans may be used to finance home improvements, purchase a new car, finance a wedding, cosmetic surgery, a business loan or a holiday.