Secured Loans at AdviceOnline.co.uk

AdviceOnline specialise in finding secured loans for their users. The "Secured Loan Finder" system has become increasingly popular and we now source thousands of secured loans for customers every month.

So why are secured loans so popular all of a sudden?

Well secured loans have been found to be cheap way of refinancing debt and credit cards especially where the sums involved are quite large. They are also becoming increasingly popular for financing lifestyle choices like exotic holidays, premium cars, motorhomes, lavish weddings, and second home both in the UK and abroad.

The difference between the secured loan route and other more traditional methods is explained here:

1. The loan is secured against the equity in your residential property. Most homeowners have enjoyed significant gains in the value of their property recently and now want to take advantage of the increased equity available to them.

2. Unsecured loans can be difficult to obtain especially where the applicant has any bad credit or arrears history. Unsecured loans are also limited to £15000 by most companies although some go as high as £25000.

3. Remortgage's have become increasingly expensive to organise with fee sometimes running into thousands of pounds. Fees to remortgage can involve a broker fee, a booking fee, a fixed rate fee, a valuation fee and a legal fee as well as commission on related insurance sales. In contrast a secured loan attracts no fees whatsoever.

4. Secured loan Interest rates are very attractive with most lenders able to offer rate in the 7% range for a standard applicant. Taking the remortgage fees into account this can mean a very competitive deal at the moment with very little effort required to be successful in obtaining the loan.

So we can confidently say that for many homeowners a secured loan deal can be the most suitable refinancing option, especially when borrowing in excess of £25000.

However borrowers should be aware that their home is at risk should they default on payments during he term of a secured loan. Most borrowers are already aware of this requirement as it is exactly the same term as they will have in their first mortgage contract.

We are now recognized as one of the most popular financial advice sites and were "Highly Commended" in the Online Financial Website Awards 2004.

Secured Loans in the UK, outstanding customer service ? It must be AdviceOnline.co.uk

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