Getting a Secured Loan

A secured loan can be an excellent way to raise much-needed cash for any purpose, be it debt consolidation, home improvements or making that dream family holiday a reality.

While unsecured loans are based solely on the borrower's credit rating, secured loans are paid against the borrower's assets. This means they are available even if you have a poor credit rating.

Providers of secured loans also have the freedom to lend even if you:

• Have CCJs.


• Are self-employed.


• Are unable to prove income.


• Need a quick decision.


• Require a flexible repayment pattern. 

One way to find a loan is to approach loan companies directly. However, they may not meet your requirements in terms of loan amount or repayment terms, so to take the legwork out of searching for a loan, you can also contact a loan comparison site.

These sites can search rapidly through hundreds of loans, to find the ones that meet all your needs. You may also be able to obtain tailor-made secured loans, and by enlisting the services of a loan broker you may benefit from:

• No obligation quotes.


• Loans for any purpose.


• Fast application processing.


• Availability of secured and unsecured loans.

To ensure that your application goes as quickly and smoothly as possible, you should have all the paperwork required close at hand before applying for a loan. This can include proof of identity, recent utility bills, bank statements and payslips.

Getting a secured loan can help you sort out your finances, or fund any large purchases.