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The Meaning Of A Secured Loan You have probably heard the word ‘secured loan’, ‘second charge’ or ‘homeowner loan’ being used especially in the world of finance. You may wonder exactly what is meant by these terms. Some people think that secured loan say for the purpose of a car purchase means that the loan is secured against the car. They think that if the monthly loan repayments are not made the car will be reposed. This is incorrect. What is conventionally meant by the term secured loan is that the loa... Secured Loan Questions What is Secured Loan? What exactly is a "secured loan"? A secured loan is a loan secured on your property. The secured loan provides some form of security or collateral, regardless of whether it is mortgaged or owned outright. You can often borrow larger amounts with loans secured on property potentially up to £500,000. Cheap secured loans have interest rates that are normally lower than with an unsecured loan because of the lower risk to the lender. This is the reward the... Secured Loan Vs Remortgage Many people are happy with their current Mortgage but need to raise extra income for debt consolidation, home improvements, a car or as a deposit for a second property. These people often consider using their equity in their property and automatically think of a remortgage but this is not always the wisest and most cost effective way to do it. Below we outline a few of many situations were a secured loan may be a better route. Your credit score has decreased since you took... Secured Loans A secured loan is simply a loan that is secured by way of a second charge registered on a property. So what is the difference between a secured loan and a further advance? Where as a further advance from your mortgage company secures the borrowing as part of the original mortgage charge a secure loan will add an additional charge. The advantage of a secured loan rather than a further advance means that you can shop around for the most competitive and suitable loan for y...

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