Secured loans, used to raise funds against the value of the borrowers’ home are making a steady comeback reports Comparealoan.co.uk who have launched a new price comparison service for secured loans.
— As the name suggests a secured loan is a loan secured against collateral put up by the borrower. In the current context the collateral used is usually residential property or other real estate owned by the borrower. Where the borrower fails to pay back all or a portion of the loan the property used to secure the loan may be sold to recoup the outstanding amount. These types of loans may be advantageous to consumers because they can usually be spread over a longer term than unsecured loans and may have lower interest rates.
The new price comparison service launched by comparealoan.co.uk allows consumers to compare secured loans across a broad range of lenders. This helps the consumer to find a loan that suits their particular criteria and at the best rate. The site also includes a plethora of editorials on how to shop for the best loan and get the best out of both companies and individual circumstances.
A spokesperson for comparealoan.co.uk explained, “We are committed to finding our customers the right secured loan to meet their specific needs and circumstance. Using our service effectively eliminates much of the stress involved in finding a secured loan. Through our site users looking for loans for any purpose may be able to find secure loans from £5,000 to £200,000 at up to 95 per cent LTV just by using the loan comparison service. All people need to do is fill in a quick form and we will do the hard work for them, so they can be assured of getting the best deal. We don’t just do secured loans however, and can also help people with bad credit, who are self employed, or who have missed payments in the past.”
Comparealoan.co.uk helps everyone compares 100s of secured loans to provide users with a list of options and quotes based on their specific circumstances. There are no up-front charges, no obligation and credit ratings will not be affected when comparing loans. They can even help those who have missed payments in the past, have bad credit or are self-employed.
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