Get the Best Secured Loan Rates in the UK

By: Robert Aconley
Getting approved for a secured loan is a little more difficult than it used to be but it is still the cheapest way to get a loan for most people. UK secured home-owner loans have risen in popularity and they are available from many lenders in the UK. There are many different lenders wanting your business so the biggest challenge today is making sure that you find a low competitive interest rate.

The annual percentage rate or APR on a home-owner secured loan can vary quite a lot. To be fair the APR offered to you depends on the amount you are borrowing, your credit history and the amount of equity that you have in your home. Even so, the rates offered to a borrower often vary by 1% to 5% depending on which UK secured lender is chosen by you.

A lower APR can save you thousands of pounds. Even a 2% difference in the APR can amount to a huge sum over the period of the secured loan. For example, if you manage to get an APR of 7.5% instead of 9.5% on a ?25,000 loan on a 15 year term. You would save in the region of ?5,000. There is no doubt that not doing some research for the best available rate can be a very costly mistake.

The best way to find a low APR home-owner secured loan is to use the services of a loan comparison service. There is no doubt that a good comparison service can let you avoid common costly mistakes, like unknowingly damaging your credit file or not finding the lowest APR on the market for your circumstances. The very best comparison sites offer a great service together with a no obligation quotation and no search fee. By comparing your loan requirements and circumstances with the hundreds of secured loans on offer, you can be confident of getting a great deal for yourself.

Get the loan companies to compete for your business! Using a secured loan comparison site can save you thousands of pounds and it only takes a few minutes to fill out the quick and easy forms.

When you receive a loan quote it is very important to check the fine print before making your final decision. Watch out for early payout penalties, mandatory insurance and check whether the interest rate offered is fixed or variable. If you use a good comparison service, when you apply for a secured loan, you will have the option to speak to a secured loan specialist. These people can help to answer your questions before you make your decision.

With no search fees and no obligation it is definitely in your best interest to use a secured loan price comparison service if you are looking for a secured loan.

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