Secured loans are often used to borrow larger sums of money, typically more than £10,000 although you can borrow less, usually from £3,000.
The term ‘secured’ refers to the fact that a lender will require something as security in case you cannot pay the loan back. This will usually be your home.
Secured loans carry less risk for lenders, which is why they are normally lower in cost than unsecured loans.
They are however much more risky for you as a borrower because the lender can repossess your home if you do not keep up repayments.
For Secured Loans, we act as Introducers.