Secured Loans
Get secured personal loans from one of the UK’s most trusted lenders. Interest rate starts from 5.49% p.a.
Get secured personal loans from one of the UK’s most trusted lenders. Interest rate starts from 5.49% p.a.
Secured loans are a vital funding source to continue with your plan of purchasing something big or fulfilling a major financial goal. These can include funding your start-up business idea and managing the cost of holidays or wedding events. Yes, personal loans are there, but most times, people get confused about whether to choose secured or unsecured.
Here at LoansForever, we have brought out tailor-made deals on these loans, accessible through a streamlined online application process. It means you can access the necessary funds when you need them the most.
If you need a personal loan but on an instant basis, trust us, as our digitalised system takes back all the stress of opting for a loan. You can rely on us if your priority is to choose an experienced lending institution with significant industry experience. We have a proven record of higher loan approvals and quick funding.
Once you apply for secured loans online with us and you get our acceptance, we make sure you receive the desired funding on the same day. You can soon implement your purchase or any financial plan with a lump sum amount. Moreover, you can repay the amount on a weekly, fortnightly or monthly basis.
We are not over-confident, but we can guarantee you reliable, trustworthy and customer-friendly lending here. We run our lending approach on the road of prompt and proper financial assistance. Apply now to borrow funds stress-free and hassle-free.
It is one of the types of a personal loan where you require keeping an asset like property, car or term deposit to secure the loan amount. Another type is an unsecured loan, which functions differently. The collateral that you provide works as the shield for the lender, where if you are unable to repay the loan, it will use that asset to compensate for the lost loan amount.
Therefore, our loan experts always suggest aspirants go for secured personal loans when they want to borrow a large amount. For any financial emergency or small purchases, unsecured personal loans are a much better choice.
There is another feature of these loans where the interest rates are on the lower side than their unsecured counterparts. Suppose you have availed of secured loans against property. Such added security gives an assurance to the lender on the timely repayment. As a result, you get loans at cheaper rates. However, you need to be very honest in repaying the loan amount on time. It is to prevent losing the possession of your valuable asset.
There is a common assumption that these loans are more suitable to meet personal ends. Still, at Loansforever, you get the opportunity to use secured loans for business purposes.
We want your finances to grow through every aspect. Therefore, we do not restrict you from using the loans for any genuine purpose, including:
Loans that are secured against property, car or any other valuable asset will bring a hefty amount to borrow. In general, you can get the amount between £1000 and £50000. We can offer you the maximum amount up to £70000, depending upon your affordability.
Still, the final amount will depend upon several factors, including:
We always suggest you first to analyse your situation and then decide the affordable loan amount only.
Secured loans, as the asset backs them up, work in favour of the borrowers. They get a large amount on lower interest rates. Still, these loans are more favourable to the lender as it has the guarantee of loan repayment. Therefore, these loans are available in various types, which are mentioned below.
You can rely on secured home loans when you want to purchase a new abode for your family. You need to keep that home as the loan collateral and get in return a significant amount to make your dreams come true.
When you have taken the risk of providing your valuable asset as loan security, you will qualify for long-term funding. You can apply for a maximum period of 10 years and enjoy lower monthly instalments with lower interest rates.
Buying your own car is indeed a dream of yours. Sometimes, you lack the amount to pay its full amount. It is where you can depend on car loans. By keeping that vehicle as loan collateral, you can borrow up to 90 to 95% of its total cost.
The presence of larger debts will disturb the whole balance of your personal finances. You need a proper arrangement to merge them. You can do this by applying for debt consolidation secured loans, available at cheaper rates.
Secured personal loans bring several kinds of benefits for the applicants. You can avail of each one of them by applying for them at LoansForever. Unlike other direct lenders in the UK, we keep everything on a well-tested platform. It means you get the loan which has already benefited a number of individuals. Let us start by explaining the loan benefits.
These are a few benefits but you will receive many more once you connect with us. Therefore, start applying for these loans now.
The above advantages will help you in making decisions on secured loans. Still, we suggest you go through the differences they possess with their unsecured counterparts. See below the actual difference between secured and unsecured funding.
| Secured Loans | Unsecured Loans |
|---|---|
| You are required to offer a personal asset as loan collateral. The best example is secured loans against property. | There is no need to pledge an asset to secure the loan amount. |
| Interest rates will be lower due to loan collateral. | No security means the lender is at risk, so there will be a higher interest rate. |
| The borrowing amount will be larger and for a longer period of time. | The loan amount is smaller and available on the shorter term. |
| The loan purpose has to be fixed because the lender assigns the loan amount according to it. For instance, if you want funds for start-ups, you will be eligible for secured loans for business. | Due to the shorter amount, lender does not restrict too much on the loan purpose. You can use it for holidays, weddings, studies, car repairs and many more. |
In a nutshell, you will find that secured personal loans are the superior choice when it comes to large expenses or purchases. You know the actual amount of that purchase, and therefore, you can be more specific about the loan amount, too. On the other hand, unsecured personal loans can prove vital for smaller expenses or financial emergencies. In this way, you can manage the hectic situation with a smaller amount and repay in a shorter duration.
Secured loans are available easily for everyone as they have the backup of loan collateral. However, some restrictions are there for those having poor credit scores. At the same time, it does not mean that you cannot qualify for availing of a loan. At LoansForever, we take a step ahead by offering secured loans for bad credit on an instant decision.
We have your asset that works as the extra protection of loan repayment. Therefore, we do not mind your poor credit score even if you are unemployed, a pensioner, and a single parent. We consider factors other than credit score, such as your monthly income, pending debts, spending and savings. If you qualify on these aspects, you can apply for these loans without any hesitation.
Despite these immunities, it is vital that every loan application should have included credit reports as it helps in approving the fast, secured loan. Our experts also suggest you not apply for loans at multiple locations. You should stick to a single loan application where a soft credit check should be there. If you approach lenders performing hard credit checks, it will only harm your credit report more. You may aspire for secured loans with no credit check, but credit assessment is a part of the process.
Despite these immunities, it is vital that every loan application should have included credit reports as it helps in approving the fast, secured loan. Our experts also suggest you not apply for loans at multiple locations. You should stick to a single loan application where a soft credit check should be there. If you approach lenders performing hard credit checks, it will only harm your credit report more. You may aspire for secured loans with no credit check, but credit assessment is a part of the process.
We are the followers of a flexible lending system. Despite your poor credit history, we still provide you with variable repayment terms. It is the perfect way to improve your credit score. Apart from that, you also get only affordable loans here, which is good for your credit score enhancement.
At LoansForever, we practice responsible and trustworthy lending where there is always a maximum chance of loan acceptance.
Not only unsecured loans but getting the best rate secured loans is also the way to get cash immediately. It means when expenses come and your savings are exhausted, you can rely on our easy online application loan. You can complete your loan request in 5 minutes and of course, our dedicated loan experts are there to guide you throughout the loan process.
These loans can work if you are above 18 years of age and holding a permanent UK resident with regular employment. We do accept part-time income, too, and sometimes government benefits as well to accept your loan. Our online process eliminates any need for needless paperwork and delays. To qualify, you only need these documents to submit:
Once you are done with the online application, one of our loan experts will contact you immediately and make you informed of our loan decision. If everything seems okay, you definitely get the loan amount on the same business day. All these define that you get prompt and proper amount to finance your purchase with no complicated procedure and physical appearance.
Before going to indulge in the application process, we suggest you use the most efficient ecured loans calculator in the UK.s It helps you to decide the ideal loan amount on a particular interest rate and manageable monthly instalment.
Many lenders are providing secured loans in the UK. Not all of them provide you with personalised features which relate to your financial compulsions. With us, you have a significant feature called FREEDOM. Yes, you can finalise your loan only after analysing it carefully to determine whether it matches your financial situation or not. If you want to bargain the interest rate with us, you are welcome to do so.
There are many more features, which we bring exclusively for you. These include: