RBS Secured Loans
Royal Bank of Scotland (RBS) is a popular choice with borrowers, but they do not currently offer secured loans. They do, however, offer a number of alternative types of borrowing, which may be appropriate depending on your borrowing needs and personal circumstances.
If you are specifically looking to take out a secured loan, you will need to look at alternative providers. The table above shows top deals from all the leading secured loan lenders.
Alternatives from RBS to secured loans
RBS offer two main ways to borrow significant sums of money: Personal Loans and Remortgaging. Both types of loans have their advantages which can make them an attractive choice.
RBS Personal Loans
RBS Personal Loans are a type of unsecured borrowing, meaning the debt is not tied to your home or another asset. This offers several advantages.
With an RBS Personal Loan you can:
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Borrow from £1,000-£35,000
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Get a decision online within minutes
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Get funds within as little as one working day (subject to conditions)
Unsecured loans can be faster to access than secured loans because there is no need to wait for a valuation of your property.
Remortgaging with RBS
If you already have a mortgage (whether with RBS or another provider) one way to increase your secured borrowing is by remortgaging.
Remortgaging has several advantages:
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You can borrow more than with an unsecured loan (up to 85% of your home’s value is common)
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You can borrow over a longer period (often up to 35 years)
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You can get better interest rates on larger amounts (depending on circumstances)
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You can borrow even if you have a poor credit rating
Remortgaging can offer an attractive way to borrow, especially if you need to take out a larger loan. If you do choose to move your mortgage to RBS, they will pay standard legal and valuation fees, helping to make the process more affordable.
How much does a secured loan cost?
With a secured loan, the main cost will be the monthly repayments. This will include the interest on the loan and repaying a percentage of the capital each month, although some loans may allow you to repay the capital as a lump sum when the loan term ends.
Your interest rate will depend on various factors, including:
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How much you borrow
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The length of the repayment period
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Your loan to value ratio (LTV)
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Your credit rating
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How much other secured and unsecured debt you already have
Find the best interest rates on secured loans
When you take out a secured loan, it is important to get the very best interest rate you can to help keep your monthly repayments affordable. Interest rates vary significantly from lender to lender, so you need to look at a wide range of providers to find the best deal for you.
Our secured loan comparison table at the top of this page shows the most attractive secured loan deals we have selected from across the market. This allows you to quickly and easily compare and contrast various loan products from all the leading lenders allowing you to get a great deal.