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Thu, 02 Jul 2020 14:36:47 -0500
2017-01-16 Print

Leading Finance Broker Considers Main Advantages of Secured Loan Products Discuss the Benefits of Keeping All Borrowing Options Open


One of the country's leading alternative finance brokers has recently highlighted the importance of keeping an open mind when applying for affordable loan products in order to gain access to additional funds. Although many borrowers may feel somewhat uncomfortable in terms of securing a loan product against their home or some other valued asset, such as a luxury vehicle or personal savings, the team at claim that the added flexibility and unrivalled convenience that secured loans provide should not be overlooked as a cost effective alternative to unsecured credit.

The main difference between secured and unsecured financial products is that secured loans typically enable the borrower to access far greater sums of money along with a much more agreeable rate of interest and longer repayment terms. In addition to this, with secured finance the funds are released much more quickly and the chances of approval are also much higher than with unsecured personal loans. However, although the advantages associated with secured finance are manifold, a large percentage of borrowers are still swayed towards unsecured loan products.

A Realistic and Practical Alternative

"If you are considering taking out an unsecured product such as a personal loan then it is important to remember that a good credit score is one of the first requirements a lender will look for before they even think about processing your application. Of course, unsecured credit is suitable for those who do not yet own a property although the amount of money you can apply to borrow will be significantly lower than with a secured loan. Most personal loan products fall into the range of between £1,000 and £25,000 with terms and conditions that vary greatly depending on the lender you apply with and repayment terms are usually limited between one to five years at the most." –

As a fully authorized and FCA regulated, independent broker of finance, provides expert advice across the whole market of personal borrowing products for individuals of all backgrounds. It is their firm belief that secured loans are quite often the only serious option whenever larger amounts of cash are required over longer periods, particularly if the applicant has a less-than-perfect borrowing history.

Unlike unsecured personal finance, a secured loan will require collateral, which is typically provided in the form of a residential property that the borrower owns, either in part or in whole. This effectively means that secured finance is only available to homeowners or those with other property assets. If a borrower does not fall into this category then they will only be able to borrow smaller amounts with much tighter restrictions.

Reduced Interest Rates

"If you are looking to take out a loan with a value of £5,000 or more, and you are able to provide security in the form of a residential dwelling or commercial property, then a secured loan can offer many advantages and added conveniences over an unsecured personal product. Higher approval rates, longer repayment periods and significantly lower rates of interest are three of the main benefits that secured finance can provide – although prolonged repayment terms, which can be arranged anywhere up to thirty years, will obviously result in the borrower having to pay back much more interest than those choosing to pay back in a five to ten year period." –

It is always important to consider all of the available options before committing to any type of financial product. If there is any degree of uncertainty as to which particular loan type will best fit your needs and personal borrowing circumstances then the team at are always available to provide free and impartial advice that will enable you to make an informed decision within your best interests.

Whether you are looking to take out a second charge loan in order to pay for home improvements and property refurbishments, or you are simply looking to consolidate an existing number of debts in order to save money on the high interest rates associated with credit cards, store cards or some other overly expensive unsecured loan products, a secured loan sourced through an intelligent finance provider such as could save you an enormous amount of time and money.

Contact Info
2 Nursery Court, Unit 2C. Kibworth Business Park, Harborough Road, Kibworth Harcourt, Leicestershire, LE80EX, U.K.

Phone: 0116 464 5534