Interest Rates from 43.1%APR to 1333% APR. Minimum Repayment Period is 1 month. Maximum Loan Repayment Period is 36 months. Representative Example: £1,200 loan for up to 75 days. Total amount repayable is: £1506. Interest charged is 0.34% per day, amounting to £306, annual interest rate of 124% (variable). Representative Example APR: 49.7% (variable).

No obligation quote and APR will be based on your personal circumstances. *Once approved, your cash could be sent within 5 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s processes and procedures.

Warning: Late repayment can cause you serious money problems. For help, go to MoneyHelper.org.uk You can also get free debt advice by phone or chat at FinancialAdvice.co.uk

Some people need a loan to pay for unexpected expenses. Payday Loans UK is the solution for many who want an easy and affordable way to borrow money. What's more, this company offers secured loans and payday loans, making it a viable option for those with bad credit scores or no credit history at all. The lending process from start to finish is quick and straightforward, so nothing is standing in your way of getting the funds you need immediately.

What Are Secured Loans?

Secured loans are a type of personal loans that are repaid with a borrower's assets instead of their income. How you acquire the secured loan and any support to use as collateral will determine how much money you can borrow. If there is no collateral, then it usually means that your interest rates will be higher than most other loans because it poses more risk for the lender. Borrowers with good credit ratings or significant assets may receive money without collateral from some lenders at lower interest rates.

In cases where there are no assets available to secure against the balance of the debt, the lender might ask for a guarantor who will assume responsibility for repaying the debt if the borrower cannot.

Benefits Of Secured Loans

There are several benefits of secured personal loans, including:

  1. Lower interest rates - Because the lender is taking on less risk by lending against collateral, they may be willing to offer a lower interest rate on loan.
  2. Fixed monthly payments - Secured loans usually have fixed monthly payments, which can help budget and make it easier to repay the debt.
  3. Increased borrowing power - Borrowers with good credit or significant assets available to secure against a loan can often borrow more money than with an unsecured loan.
  4. Faster approvals - Lenders who deal in secured loans will often be able to approve your loan application faster than an unsecured loan, as they have all of the information they need available to them without having to do a credit check.

What To Watch Out For With A Secured Personal Loan?

Because applying for this type of loan is very easy, you must understand exactly what you're getting into.

Secured loans are usually a lot more expensive than unsecured ones because online lenders need something to act as security against your money. Additionally, if you don't pay back the total amount, they will have rights over your property, so always make sure that you can afford the repayments! You can check this with a loan calculator.

Why Choose Payday Loans UK For Getting Secured Loans?

If you are looking for a safe and secure way to borrow money, then payday loans UK may be the perfect solution for you.

1. FCA Authorised

We are authorized and regulated by the Financial Conduct Authority (FCA), which means that you can be sure that we will always work in your best interests.

2. Quick And Easy

We know that you need your money as soon as possible, which is why our application process is both quick and easy. You could have the money in your bank account within minutes of submitting your application.

3. No Upfront Fees

We do not charge any upfront fees for our payday loans, so you can rest assured that you will only pay back what you borrow.

4. Low Representative APR

Our representative APR is low, meaning that you will only pay back a small interest on top of the amount you borrow.

5. Flexible Repayment Terms

We offer flexible repayment terms so that you can repay your loan in a way that suits you. You can choose to repay over 3, 6, or 12 months, whichever works best for you.

6. Safe And Secure

We use the latest security technologies to ensure that your personal information is safe and secure when you borrow from us.

7. Wide Range Of Amounts

We offer payday loans from £50 up to £5000, so there is sure to be a loan size that will suit your needs. You can see the different costs using a loan calculator.

8. Get Your Money Fast

Once your application is approved, you could have the money in your bank account within minutes. This means that you can quickly and easily get the cash you need.

9. Friendly And Helpful Customer Service

Our friendly and helpful customer service team is always on hand to help you with any questions or queries that you may have.

FAQs

1. What is a secured loan?

These are loans where property like your car acts as collateral if you fail to pay back the money. If this happens, the lender has the right to take away your car or sell it to recoup their losses. This gives lenders more confidence that they will be able to get their money back if things go wrong and are the reason why they are often a lot cheaper than unsecured loans. You can use a secured loan calculator to get an estimate of the loan costs.

2. What are the risks of secured loans?

If the borrower fails to repay the loan, the lender can seize the asset. This could result in financial hardship for the borrower if they lose their home or car.

3. Can I get a secured loan if I have bad credit?

It is more challenging to get a secured loan if you have a bad credit score, but it is not impossible. You may need to provide a higher down payment or offer more collateral. The loan amount will also depend on it.

4. What is the difference between a secured and an unsecured loan?

A secured loan is a type of loan where the borrower pledges some asset as collateral for the loan. An unsecured loan is a type of loan where the borrower does not pledge any assets as collateral. Secured loans tend to have lower interest rates than unsecured ones, which are easier to obtain. This is because the lender has more security if the borrower defaults on the loan. Unsecured loans are riskier for lenders because they do not have collateral to seize if they default on the loan. You can compare using a loan calculator.

5. What are examples of types of secured loans?

The mortgage loans would be a type of secured debt since it uses the real property as collateral against a loan. A car loan would be another type of secured debt since the car can be repossessed if the borrower fails to make payments.

Summing Up

Do you need a loan quickly? Secured loans are the best option. Our team is here to help you secure your next secured payday advance by connecting with lenders, verifying your identity, and qualifying for an online fast cash loan solution. Getting approved for one of these loans will be easy with our process. Apply now!

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