Secured loans

What does applying for a secured loan involve?

Not only do we offer you an impartial comparison of secured loans, we can help you apply for the one you want. And there’s no need to be suspicious. It won’t cost you a penny.

We are working with uSwitch.com to make it easy for you to compare and apply for the best secured loan for you. Our service is free and impartial.

Should you get a secured loan?

The good news is that secured loans can offer a low interest rate. But, of course, you are putting your house on the line, so you need to make sure you can meet the repayments, taking into account any hiccups that are around the corner.

Before you apply, consider whether a secured loan is the best option for you. Some advisors recommend loans as a last resort, unless you are consolidating a debt. Most people take out secured loans for this very reason, or to improve their home.

The application process

It depends on which loan you go for as to how the application process works. In any case, we will ask you for your name and email address so we can send you confirmation.

There are three ways your application may be processed:

You complete an online application on our site which we pass onto the lender, or
We direct you to the lender’s site so that you can complete their online application, or
We refer you to a broker. Some lenders only deal with customers through independent brokers who act as a liaison.

Having the three routes ensures we have a comprehensive panel of lenders from which to find the best secured loan for you.

Whatever route you take to apply for a loan, the process is fairly similar. The lender will go through your application and check your credit history. They’ll confirm with you whether your application has been approved and send out the paperwork for you to sign.

Once it’s returned they will transfer the money to your account.

Poor credit history?

OK, so maybe you haven’t been an angel in the past and have got yourself into financial trouble. Well, it doesn’t mean you’re blacklisted for life, but some lenders are tentative about lending to you in case you don’t repay them.

You will still be able to borrow, but will have fewer options and may be charged a higher interest rate. When you compare secured loans, make sure you tell us you have had credit problems so we can search for suitable loans. Otherwise, you may be rejected when the lender checks your credit history.