Secured Loan Finance

Easy

Finding finances no longer need to be a tedious task that is dreaded. Anyone who has a form of collateral or security and is in need of a small or much larger sum of money may find that the answer to their financial problems lies within secured loan finance.

In the following article, we will discuss some important information that you should know about this type of loan.

Lenders who offer secured loan finance will accept collateral or security, which is any kind of fixed asset that you might have. This collateral is needed by the lender for the assurance that you will pay them back the money that they have loaned to you.

Lower Rates

Because you are offering the lender collateral or security, you will find that there are many advantages to secured loan finance.

You will not have to suffer high interest rates when you provide the lender with collateral. This makes secured loan finance the more economical choice when it comes to loans.

Lower interest rates will allow you the luxury of not having to stress over going into further financial crisis, as high interest rates have caused some people to fall further into debt. The money that a person receives from secured loan finance can be used in any way that they deem fit.

What Can I Use The Loan For?

The money can be used on outstanding bills, college fees, buying a car, home improvement or any other project or debt that needs handled. As of late, many people have been utilizing secured loan finance for debt consolidation reasons, which is a wise idea.

How Much Can I Borrow?

The sum that you will be entitled to from a lender will be based on the equity value of the collateral you offer the lender. The sum of money that a person may get from secured loan financing can be anywhere from three thousand to one hundred thousand pounds.

You can also borrow up to 85% of the value of your collateral.

The repayment period of this loan will depend on the size of the loan and the lender. For the largest sums, a person may have up to twenty-five years or more to repay the lender.

Those who have financial issues such as CCJs, defaulting on payments, arrears on mortgage, bankruptcy and other problems will not be denied by the lender as long as the collateral or security is sufficient. However if you have bad credit you will face a higher interest rate.

If you’re looking for secured loan finance Quick And Easy Loans can help, we search 95%+ of the loan market for the lowest rates and best deals available to you.
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