How We Help You Get a Secured Loan
At Moneybox Financial Management Limited, we make the secured loan process simple and stress-free. We help by:
- Assessing Your Needs – Understanding why you need the loan and ensuring it’s the right option for you.
- Finding the Best Deals – Comparing lenders to secure the most competitive interest rates.
- Guiding You Through the Process – Handling the paperwork and ensuring a smooth application.
- Providing Expert Advice – Explaining the terms clearly so you make an informed decision.
How Does a Secured Loan Work?
A secured loan is a type of borrowing that is backed by an asset—usually your home. Because the lender has security (your property), interest rates tend to be lower than on unsecured loans.
- You borrow money using your home as collateral.
- You repay the loan in fixed monthly instalments over an agreed period.
- The amount you can borrow depends on the equity in your property and your affordability.
- If you fail to repay, the lender has the right to repossess your home to recover the debt.
When is a Secured Loan Suitable?
A secured loan can be a good option if:
- You need to borrow a large amount (typically £10,000+).
- You have equity in your home to use as security.
- You want a lower interest rate compared to an unsecured loan.
- You need to consolidate debts into a single manageable payment.
- You have a lower credit score but own a property, making it easier to get approved.
When is a Secured Loan Not Suitable?
A secured loan may not be the right option if:
- You don’t own a property or have little equity.
- You can’t afford the repayments—missing payments could put your home at risk.
- You only need to borrow a small amount—an unsecured loan might be better.
- Where a remortgage would be a cheaper option
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.
Call Us Now to Discuss Secured Loans
If you're considering a secured loan, we can help you find the best option for your needs.
Call us now for expert advice.