Unsecured Loans vs
Secured Loans
And we will help you get your online loan NOW!
We provide
unsecured loan for debt
consolidation, unsecured bad
credit loans and unsecured
business loans. In fact we offer
unsecured loans and
secured loans for any purpose. |
Which is best
for you? An unsecured loan or a secured loan? Here is some comparative information.
(It does not constitute advice)
Imagine
that you are considering an unsecured loan for debt
consolidation or an unsecured bad credit loan.
Would a secured loan be a better alternative?
As a homeowner you can have the
choice of borrowing funds either on a secured basis
(i.e. with the loan value secured against
your property to guarantee the repayment of the loan),
or an an unsecured basis.
It
is worth considering for a moment whether an unsecured
or secured loan is right for you.
|
| |
Unsecured Loan |
Secured Loan |
|
Applicable to |
Tenants & Homeowner (1) |
Homeowners only (the home acts as
security) |
|
Max Loan Value |
£25,000 |
£250,000 (2) |
|
Max Repayment
period |
7 years |
25 years |
|
APR rates |
Rates will be higher (no security),
but are also affected by credit status. |
Having the home as security means
rates can be lower. Rate will depend on loan size, credit status and the
equity in the property. |
|
Speed of getting
funds
(approx) |
1-2 weeks |
3 weeks (faster for loans over £25k
as they are not regulated by 1974 Consumer Credit Act) |
|
Other |
|
Needs to be free equity in the
property, |
(1) Ultimately failure to repay an
unsecured loan could result in a "court charging order" that could see the
repossession of your house (if you are a homeowner).
(2) Will depend on an assessment of your credit rating, your ability to
repay and the amount of "free equity" in your home.
There are a couple of other points
to consider:
- The more problematic your
credit history the more difficult it will be to get
an unsecured loan. The interest rate you get will
also be higher. A secured loan may become the only
option (if there is equity in the property - i.e.
the property's value is greater than the outstanding
mortgage balance).
- While you are able to have a
longer repayment period for a secured loan and may
be able to reduce your monthly repayment you should
remember that it may cost you more in the long run.
You will notice that it is a
personal judgement as to whether an unsecured loan or
secured loan is best given your own circumstances.
Our
FREE service means we can provide you with personal
illustrations for both types of loan for you to compare at your leisure.
You can then consider them in the context of your personal situation
before making a final choice. Fill in the simple
form and we can get back to you in 1 hour with your options.
Low Cost Loans
Our low cost structure
and speed mean that, for instance, our typical secured loan rate
is currently 6.8%APR variable (with 66% of applicants getting a
better rate than this). We have great rates too on
unsecured loans,
tenant loans,
remortgages and mortgages.
Please contact us for your personal
illustration / written quotation.
Why Look Anywhere Else?
For all the loans and
mortgages we provide we are able to look across the market. For every
application we receive we examine hundreds of loan products to see which
are the best options. We work closely with the subsidiaries of many of
the well know high street banks, and ironically have products available
to us that you cannot get on the high street!
When we are able to offer
this service for free why would you choose to spend your time looking anywhere
else? If you want your loan now then take a moment to
complete the
relevant application form and then we'll come back to you with the best
deals. Remember, we aim to call you back with your options in around 1
hour! Let us do the hard work for you.
Bad Credit Loans are NOT a Problem!
We specialise in bad credit
loans. If you have been refused a loan by others you may have convinced yourself that you are beyond
help. Don't worry - we would like to try to help you.
Don't worry................We want to help you
NOW!
Because we are a specialist broker we have a broad panel of lenders and
access to thousands of products. There may be one (or more) for you.
It costs nothing to apply
and you not obliged in any way. It only takes a minute.
We'll do all the legwork, tell you what your options are, and then we
can sort everything out over the phone.
In Summary
- Lower rate UK loans because we
have lower operating costs
- Unsecured Loans are available
from £200 to £25,000; Secured Loans from £1,000 to £250,000
- Bad credit loans are not a problem -
we are happy to consider all credit situations
- Funds for
any purpose -
debt consolidation loans,
car loans,
home improvement loans,
etc.
- No upfront fees
- Fast (1 minute)
online application
- Quick decision in
principle - we aim to speak to you within 1 hour of your application
- No credit search until you
authorise it
- As much as possible sorted out over
the phone to minimise your paperwork
Unsecured Loans from £200 to
£25,000; Tenant Loans from £200 to
£25,000; Secured Loans from £1,000
to £250,000; Remortgages up to £1m;
Payday Loans from £50 to £750;
Buy to Let mortgages;
Right to Buy Mortgages;
Poor Credit Loans
|
