Secured Loans

The biggest concern of banks when they lend you money is, quite obviously, whether or not you will be able to pay back the loan. This is not the same as ‘do they trust you?’. What they are concerned about is simply that you will not be able to pay them back, even though you want to.

So if a borrower is able to provide some sort of security for the loan, such as their house, it means that in the unlikely event that things go wrong, the bank will still get their money back. This makes the bank happy, and you happy because you get your loan.

This kind of loan is called a Secured Loan. Because it is secured, banks are happy to lend larger sums at lower interest rates than unsecured loans. Secured loans can be used for just about anything, and almost anyone can apply for one, as long as they are over 18 and a UK homeowner.

How much can I borrow and how much will I pay?

Amounts borrowed can range from £10,000 to £250,000. The maximum Loan-to-Value ratio (the loan expressed as a percentage of the property value) is 125% depending on personal circumstances. These include:

• Income
• Property value
• Previous credit-worthiness
• Period of mortgage payments
• Employment history

Repayment terms are from 3 to 30 years. The interest paid on the loan is calculated by considering the personal circumstances of each individual.

Which secured loan should I choose?

As master brokers, Relax Finance can access a large section of market lenders to find the best secured loan for you. Applying for a Relax Finance Secured Loan is quick and hassle-free. Simply complete our Online Loan Application Form – and discover how much you could borrow.

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Calculate your repayments and apply for your secured loan online now at: www.relaxfinance.com