Unlike an unsecured loan, a secured loan is made against an asset such as your property. This means the repayment term can be spread over a longer period of time.
Secured loans are frequently taken out to fund property improvements or to consolidate existing debts. The amount you can borrow will be based on your financial circumstances, credit score and amount of equity in your property.
It’s important to remember that if your loan is secured against your home, it could be repossessed if you miss a payment or default.
With this in mind, our advisers can help you to decide whether a secured loan is right for you and help you gain access to finance which you can afford to pay back.