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Secured Loans - 2007/05/08 20:15
A secured loan means that you are borrowing money secured against equity that you put forward, which in most cases would be your house. As the lender effectively has the right to obtain their outlay by sale of this equity should repayments not be met, the risk which they are undertaking in lending the money is relatively small. For this reason secured loans tend to have a lower monthly APR( Annual Percentage Rate ), this basically means that the loan is more affordable with lower monthly re-payments, and a lower overall charge.
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We of course have a full range of lenders with a whole raft of different plans to suit most circumstances.
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