Best Secured Loans For Bad Credit
Let us help you find the best secured loan deal
If you are looking for a secured loan, we can help you find the most competitive deal on the market.
As well as offering home loan deals offered by lenders for people with good credit histories we also work with secured loan brokers who search the UK secured loans market to find you the best rate.
- Secured Loans from £10,000 to £2.5m
- Adverse Credit and CCJs loan applications considered
- Loans Up to 30 years
- Leading UK secured lender deals compared
For the latest secured loan deals see the latest deals above or contact us on 0117 313 8872.
Best Secured Loans for Bad Credit
Securing finance can be a strenuous and difficult process at the best of times, let alone if you have a bad or adverse credit rating. With some mortgage lenders turning their backs on borrowers with bad credit ratings, it’s not surprising to see many people now seeking a secured loan to obtain that additional capital they need.
A secured loan allows a borrower to take out a loan with an asset (usually a property) put up as security. With this added collateral, banks view borrowers with bad credit ratings as a less risky investment and consequently tend to be more flexible in regards to their lender criteria and consider a much wider and severe range of credit issues.
So if you’re a potential borrower with an adverse credit history, or have previously had a CCJ registered against you; a secured loan might be the answer you’re looking for. Secured loans are typically available for much larger amounts than personal loans; you can usually borrow anything from £10,000 to £2.5m.
Am I eligible for a secured loan?
For the most part, you’ll need to secure your loan against your home which is why secured loans are often referred to as homeowner loans. In addition to owning a UK property, secured loan lenders also usually ask that you set up a realistic repayment plan, and that you have a credit history. Whilst it is worth noting that many lenders are willing to offer finance to those with a less than perfect credit history, the amount you can borrow, loan terms and interest rates are likely to vary depending on your credit profile and circumstances.
However, it is worth taking into consideration that because your loan is secured against your home, failure to keep up with repayments can result in the repossession of your home. That’s why we recommend that you contact a mortgage broker to get advice on whether a secured loan is suitable for your personal circumstances.
Where can I find the best secured loan deals?
The majority of secured loan lenders only work through authorised intermediaries, such as ourselves; which is why we recommend that you contact a mortgage broker to give you the best chances on getting a leading deal on your secured loan. In addition to giving you access to leading and exclusive secured loan deals, our team of specialist secured loan advisors can give you assistance and guidance throughout the whole of the application process, and even beyond this.
If you would like to compare leading secured loan deals why not call us today on 0117 313 8872 for a FREE initial consultation.