Secured loans representative example: If you borrow £10,000 over 10 years at an Annual Interest Rate of 6.7% (variable) you would make 120 payments of £134.56 per month. The total amount repayable will be £16,147.20 (This includes a lender fee of £495 and a broker fee of £1,250 which have been added to the loan.) The overall cost for comparison is 10.9% APRC representative.
Apple Loans is a credit broker not a lender.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
Apple Loans is a credit broker and not a lender. Nothing on this website constitutes financial advice. If you need financial advice you should speak to a qualified financial advisor. This website provides information only, and the choice of product is for you alone to choose. As a broker we process the information you provide us and we may pass this onto our trusted third party lenders and brokers. All credit is subject to you being a UK resident, aged 18 or over and subject to your personal circumstances. All lenders operate responsible lending policies and as such credit is subject to status and affordability. Our service is free to use, and we as a broker are paid set marketing fees each month from the third party brokers / lenders we work for to carry out financial marketing on their behalf.
Rates from 4.5% APRC to 65.2% APRC are available - the highest rate is for customers with severe credit problems. Loans available from 1-25 years
TYPICAL 10.9% APRC variable.
Calls may be recorded for training purposes. The third party lender or broker may charge a fee of 0% up to 15% on your loan.
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Secured loans, a great choice for homeowners
Secured loans provide borrowers with a choice of finance options with rates and repayments that can be highly competitive compared to alternative forms of credit.
It's no surprise that secured loans are so affordable, given that they require security by way of property, in order to guarantee repayment of the loan. For this reason, secured loan rates are usually lower than unsecured loan rates, and loan plans are readily available to most homeowners, and can be used for almost any purpose.
The greater the equity you have in your property (the value of the property minus the outstanding mortgage) the more flexibility there is over the choice of secured loans made available to you.
Why secured loans offers greater choice and fewer restrictions
For customers looking for a cost-effective way to borrow, a truly great advantage that a secured loan has over other types of borrowing is the wide choice of loan plans that are available to people who don't fit the rigid customer profiles that banks tend to prefer lending to. It means you can be accepted for a secured loan if you haven't got a full time job, or if you're nearing retirement age, or even if you have a poor credit score due to missed payments or defaults on credit cards, your mortgage or other loans you may have previously arranged.
Choose secured loans when unsecured loans are not an option
It's a fact that for many people, unsecured loans are simply not an option due to the restrictions many lenders and banks have placed on lending criteria, especially over recent years. An application for an unsecured loan, or personal loan as they are commonly referred to, could be more likely to be refused through an applicant's inability to fit a lender's 'profile'. They also involve smaller loan amounts, so there is a limit to how much can be raised.
Secured loans on the other hand are widely available to customers from all backgrounds and different circumstances, and you can apply to borrow anything from £8,000 to £500,000.
It's this flexibility of loan amounts and repayment terms when coupled with a lower rate of interest, that makes secured loans a viable and appealing option with which to finance a life event or important purchase that may otherwise be unachievable through other financial arrangements.
From consolidation loans that can be used to replace expensive credit cards and help reduce monthly outgoings to home improvement loans or secured loans simply to raise money for a special family holiday or celebration are examples of how a secured loan is put to good use by a great many people.
Applying for a secured loan quote is straightforward
The application process for a secured loan is carefully designed to make each question and each stage as easy to follow as possible. The information you provide helps us to identify the right lenders and what rates and products are available to you as an individual.
There are so many considerations that come into play when secured loans are sourced for you. The main thing to remember when applying for a secured loan quote is that there are some important questions that we will need to understand about your circumstances, through your application. Mainly, this is to do with affordability and the level of security offered to the lender. We want to be 100% sure that you can make monthly repayments comfortably, and that a loan isn't going to put you under financial pressure, on the contrary, it's there to help your financial situation.
A few questions about your current finances, for example your income, property value and existing outgoings, will help us make the right decision about the type of secured loan needed and its suitability for you as an individual. If your property is jointly owned, there will of course need to be a joint application made, which means both sets of details are required.
Everything during the secured loan process is carefully explained
A decision, in principle, is made quickly, and an agent will talk you through the details with you. From there we would fully expect our agent to make you a firm secured loan offer for you to review, just as soon as the information has been processed by our team and the lender has agreed to make the funds available.
It's important for you to know that there is absolutely no obligation to take out the secured loan following an in-principle decision and quotation - or after the final loan offer has been made. If you don't want the money, or your circumstances change, you simply don't sign the final agreement, we certainly don't pressure you into proceeding with something you're unsure about.
Whether for secured loans or any other product, we ensure the terms are carefully explained, so you can make an informed decision about whether or not you wish to proceed. Clear information sets out the rate, the monthly repayment and how long the term is, and importantly, what the overall cost of the loan is.
If you do agree with the terms of the secured loan, our broker will arrange a transfer of the funds into your bank account. We are right by your side at each stage of your loan application, and we always take the time to keep you informed about its progress.
We always work within the regulations that govern secured loans
Customers will often ask for fast secured loans, and we understand why there is often a need to offer quick secured loans in some instances. The service we offer, like any other finance provider, is as fast as legislation allows, so speed of service will never sacrifice quality of service. We always respect the laws governing secured loans, because they are in place to give customers the reassurance that their interests are always number one priority.
Our agents search the whole market for the best secured loan for you
It's important to know that the rate offered can vary greatly, according to your personal circumstances, and that is why your shown a range of products and rates with any secured loan figures quoted.
A number of factors influence the choice of loan products offered. Due to the diverse range of lenders and the different types of products they offer, a broker has a lot of work to do to make the right decisions over which lending option is right for each individual customer. Our agents start by searching the whole market to identify the right secured loan products, so unlike approaching a bank who can only offer their own products, you get a portfolio of options. Our close working relationship with different secured loan lenders allows us to search quickly through online systems that are updated regularly.
Credit history will also make a difference to the secured loan rates and repayments you are offered. If you have a high credit score you are a 'low risk' borrower, so lenders will generally offer loan plans at a lower rate than if you were 'high risk' with a lower credit score. Risk is directly linked to rates, so higher risk means high rate. However it's good to know that even if you have a low credit score and were refused credit elsewhere, there's a good chance your rate will be much lower than you think.
We simply want to give you the best loan quote
We want to provide customers with the best secured loans possible for your needs. If you would like an idea of rate and reayment options you could obtain, ask for an instant secured loans quote. Our agents are highly experienced in arranging secured loans and we hope our best quote for a loan will exceed your expectations.
It's easy and quick to find out, so apply for a secured loan quote today.