If you’re looking for a secured (homeowner) loan, The Mortgage Index Ltd can help. Our free and impartial loans comparison service will search for the best secured loans for your needs and circumstances.

What are secured loans?

A secured loan is a loan where you will be required to use your property as security against the loan, so the lender is able to balance the risk of lending to you. The amount that can be borrowed differs from lender to lender and your individual circumstances. The amount that can be borrowed, the term available and the Annual Percentage Rate (APR) will depend on:

the value of your property

your ability to repay the loan

your personal circumstances

You need to think very carefully about how you manage a secured loan. If you default on the loan you risk losing your home.

Who should choose a secured loan?

Secured loans allow you to borrow more and repay over a longer period than a personal loan – up to 25 years. They can normally be used for almost any purpose and as the lender has the benefit of security they can be offered to people who may be excluded from other loans. Borrowers who are self-employed, have recently changed jobs or have previous credit problems will be considered for a secured loan. They are also useful for borrowing larger sums or where the applicant requires a longer repayment period.

How can I find the best secured loan?

Finding the best secured loan for your situation can be complicated as there are many factors for the lender to take into account. With so many providers offering secured loans, trying to compare them all yourself could take forever. Luckily The Mortgage Index Ltd can do all the work for you with our secured loans comparison service. All you need to do is tell us a few details about the loan you’re looking for and your personal circumstances. It’s free, impartial and any information you give us will remain confidential and secure.

How can I be sure it’s the best secured loan for me?

As well as comparing the available secured loans, ensures you get the best possible deal. Some lenders prefer to only work through brokers.