Tag Archives: secured loan

Apply for Secured Loan – Top Tips

October 1, 2019   Auto Loans

If you are not careful When you apply for secured loan quotes online there is definitely a risk you could unknowingly damage your credit rating. Even worse, if you do not find the best quote with the low APR, you could lose a lot of money. Here are some top tips quick for applying for a secured loan that will save you time and a lot of money.

Secured Loans for Homeowners – Finding the Best Rate

Being approved for a secured homeowner loan has never been easier. UK secured home owner loans have become very popular and are available from hundreds of different UK lenders. Using a broker is often the easiest and quickest way to do this. With so many different lenders vying for your business there are plenty of good options around.

Secured or Unsecured, which is the Cheapest?

Generally when someone is looking for a UK cheap loan what they are after is the lowest interest rate. Of course everyone wants a great deal and one that makes the most financial sense. By doing a thorough comparison of cheap loans being offered, it is possible to find a great APR in the UK market. Since a secured loan is secured against your assets then a lender is usually able to offer a lower interest rate since the risk to them is less.

UK Secured Loan Approval – Fast and Easy

secured loan approval for people in the UK can be very quick these days thanks to the instant access of free online loan comparison websites available today. These sites are designed to match your specific lending criteria and will instantly compare hundreds of UK loans. One common mistake that can prevent getting fast secured loan approval is to apply and be refused for a loan resulting in a strike against your credit file. Let us review how to avoid this bad mistake.

Applying for a Secured Loan Online

Using the internet to apply for a secured loan is a quick and easy way to obtain a UK loan quote. Usually the goal of applying online is to find the lowest rate without having to fill in endless forms. It can potentially harm your credit score to apply to lots of different places. There is a safer way to apply for a secured loan online that instantly compares hundreds of loan option with a quick and easy form that does not require an initial credit check.

Secured Loan Adverse Credit – The Risks

In the past if someone had bad/adverse credit it was highly unlikely that they would be accepted for a loan of any kind. These days, having a less than perfect credit rating no longer excludes UK homeowners from being able to get a loan. If you have adverse credit, the problem now is not paying a premium APR just to get the loan. The biggest challenge that most people find when their credit is less than perfect is being offered loans at outrageous interest rates.

UK Secured Loans – How to Avoid Unknowingly Damaging Your Credit File

There are many online options to apply for a UK secured loan. For someone looking to find the cheapest and best secured loan for their needs, it can be confusing and difficult to know where to start. Of course when seeking the best deal possible, most people want to do some research before making a final decision. Unfortunately if you are not careful, it is easy to unknowingly damage your credit file while looking for the best loan quote.

Secured Loan Vs Unsecured, which to choose?

As there are so many different lending options available in the UK market, it can be tough to choose which kind of loan is best for you. Choosing the right option for your situation will depend on a number of factors including; your credit rating, the amount you would like to borrow, and the term you need for the loan.

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Applying for a Secured Loan 101

August 3, 2019   Home Mortgage

If you’ve made the decision to apply for a secured loan, you’re likely to have done a bit of homework in regards of current interest rates, traditional fees for preparing the necessary documents, and of course, the fee your lender will charge you for your secured loan. If you have yet to accomplish the above tasks, you should at least begin the process before you begin to contact potential secured lenders. So here’s a bit of basic info for you (and if you’re already familiar with it, let’s just consider it a refresher course, shall we?).

The most common type of secured loan is a mortgage; one of the largest bills that you will ever have in your life. There are a wide variety of fees in all shapes, sizes and colors for you to decipher through, so be sure to pack your x-ray goggles!

First things first, we have the APR – it’s the amount that you will be paying each year for your loan. Also known as the Annual Percentage Rate, it will include the interest rate, fees, and certain other charges calculated on a yearly basis to come up with one complete percentage. It’s usually a bit higher than the interest rate that you’re quoted, as it includes the other fees.

Be sure that you know the terms for “fees” as many of them can be hidden or covered up as something else. “Points” are one of the more popular fees, and can range in purpose to get you a lower interest rate to an honest loan officer telling you that’s how he’ll fill his paypacket. When in doubt, ask questions! If you’re not happy with the answers you received, ask someone else. Ask all the way up to the president of the company, as this is your money we’re talking about here. And don’t sign anything that you’re not 100% sure about.

And last but not least, be sure to shop around- don’t put all of your eggs into one proverbial basket, so to speak. There are, unfortunately quite a few bad loan originators (often referred to in the industry as “predators”) in the secured loan industry that are completing the old “Bait and Switch” routine on you- promising the moon and stars to you, their special client, but all the while they have no such program waiting for you (and you are now in a difficult position: either choose the horrid loan program that you got switched into, or no loan at all). By shopping around, and informing the competing lenders that they are not alone, you are setting yourself up for an ideal, winning secured loan situation.

When the application process commences, it’s very important to remember that you can change your mind at any time without penalty or fine. Sometimes our gut instinct tells us something that we just can’t avoid, and it’s often best to listen to our gut

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