Secured Loans

This is a loan backed by assets belonging to the borrower, in order to decrease the risk by the lender. The lender is entitled to take away the assets if the borrower fails to make the necessary payments.

The most popular type of asset used is property. This type of loan may also be known as a 'home-owner' loan. If you default on your loan-you may lose your home.

Maybe you wish to consolidate your debts or pay off your credit cards. Having a secured loan may save you money by reducing your monthly out-goings

Secured Loans-Bad Credit

Can I get a secured loan with bad credit?

The answer is yes! Loan Companies have different sets of requirements, one may ignore credit defaults, whilst another may not include CCJs over a certain age.

The art lies in finding the right loan for your individual circumstances, thats where The Mortgage Shop can help as we are brokers who have access to many lenders and we will find the right deal for you.

The Financial Services Authority does not regulate secured loans.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAYBE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.