Secured Loans Uk: Comfortable and Borrower Friendly Loans


by William Ender - Date: 2008-08-22 - Word Count: 273 Share This!

 

The secured loans in UK are the loans that are available to you in almost within a day but against a collateral security equaling to the total amount, which is being borrowed.

 

The secured loans UK are nothing but the personal loans offered with a collateral security. The loans are offered to anybody who qualifies the following basic conditions.

 

· The borrower should be above 18 years of age.

 

· The borrower should be resident of UK. This is the most important and primary condition.

 

· He/she should have a steady source of income. This decides on the repayment capacity of the borrower.

 

· The credit history of the borrower should be good. This is not a mandatory condition but by saying that cannot be ignored as it will fetch you little more loan eligibility than normal.

 

Some of the advantages of the Secured loans in UK are

 

· The tenure is comparatively longer, than unsecured loans, resulting in easier repayment.

 

· The interest rate is less because the risk on the lenders is less. This is because of the collateral security, which the borrower provides. If the borrower is defaulting on the payments then the lender has got the power to use the security to recover the installment amount.

 

· Once the property is authenticated, the loans are very quickly approved.

 

These loans are generally offered for an amount ranging from £1000 to £25000. The repayment tenure can be decided anywhere between 5 years to 10 yrs.

Exhaustive search of the internet will give good results about interest rates, the best deal on the processing fees, you will also have a chance to have a tailor made secured loan to fulfill you needs.


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William Ender is an MBA in Finance and has a rich experience of writing on topics related to finance.He is offering loan advice about cheap secured loans , Quick secured loans, secured loans UK, secured loans for homeowners visit at http://www.securedloans.eu.com

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