You can use a secured loan for almost any purpose. Whether you are looking to reduce your monthly repayments by consolidating existing debts into one manageable monthly payment, otherwise known as debt consolidation or to make home improvements, pay for a holiday or buy a new car, there are many reasons for applying for a secured loan and the ones mentioned are just a few.

Have a go on Our Debt Consolidation Calculator and see how much you could reduce your monthly payments

As the term suggests, secured loans are loans that are secured against the equity your property, you may have heard them being called home loans. As a result, the lender is reducing their risk by lending you the money. This security usually means secured loans are cheaper than unsecured loans also known as personal loans.

Enquire about a home improvement loan today and find out how we can help you rise the funds you need to make your house a home

Another benefit of the lender having security against your home includes being able to lend to customers who would not normally meet the requirements for a personal loan. For instance people who may have had credit problems in the past, are self employed and can’t prove their income, or are currently on benefits or pension income etc. In these instances it is likely that the lender may agree the secured loan on different terms such as a higher interest rate or APR to reflect the level of risk of lending the money. If you are not a home owner then unfortunately you cannot apply for a secured loan. But do not fret; visit our personal loans section to find the best personal loans available to you.

Don't worry, our experience loans team are on hand to help you find the best loan for your circumstances if you have had difficulties with credit in the past