[et_pb_section fb_built=”1″ module_class=”app-loan-form” _builder_version=”4.16″ _module_preset=”default” background_color=”#75b8ca” use_background_color_gradient=”on” background_color_gradient_direction=”-300deg” background_color_gradient_stops=”#75b8ca 0%|#ffffff 100%” background_color_gradient_start=”#75b8ca” background_color_gradient_end=”#ffffff” custom_padding=”||||false|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” module_class=”cust-width-row cust-row-none” _builder_version=”4.16″ _module_preset=”default” module_alignment=”center” custom_padding=”|10px|0px|10px|false|true” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text module_class=”mob-banner-heading” _builder_version=”4.22.2″ _module_preset=”default” header_font=”Montserrat|600|||||||” header_text_color=”#17174c” header_font_size=”42px” header_line_height=”1.2em” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” header_3_font=”Montserrat||||||||” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_image src=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/08\/summer.8b0ea78d.png” title_text=”summer.8b0ea78d” show_bottom_space=”off” align=”right” disabled_on=”off|on|on” module_class=”banner-mob-img” _builder_version=”4.16″ _module_preset=”default” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”][\/et_pb_image][et_pb_text disabled_on=”off|on|on” module_class=”loans-banner-style” _builder_version=”4.18.0″ _module_preset=”default” header_2_font=”Montserrat|600|||||||” header_2_text_align=”center” header_2_text_color=”#dd1d42″ header_2_font_size=”22px” text_orientation=”center” global_colors_info=”{}”]<\/p>\n
Let’s get started!<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” text_font_size=”16px” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n
If you need to borrow money, a secured loan could be the solution to your financial problems. But what is a secured loan? Are they the right option for you? And how do you go about getting one?<\/p>\n
Here’s everything you need to know about secured loans.<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.16″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” text_font_size=”20px” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ disabled_on=”on|off|off” _builder_version=”4.16″ _module_preset=”default” background_image=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/08\/summer.d17b52ee.png” background_size=”custom” custom_css_main_element=”background-size: contain;” global_colors_info=”{}”][et_pb_text disabled_on=”off|off|off” module_class=”loans-banner-style” _builder_version=”4.18.0″ _module_preset=”default” header_2_font=”Montserrat|600|||||||” header_2_text_align=”center” header_2_text_color=”#dd1d42″ header_2_font_size=”22px” text_orientation=”center” global_colors_info=”{}”]<\/p>\n
Let’s get started!<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” module_class=”cust-width-row cust-row-none-show” _builder_version=”4.16″ _module_preset=”default” module_alignment=”center” custom_padding=”|10px||10px|false|true” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_text=”I am a homeowner ” button_alignment=”center” module_class=”homeowner-form-btn” _builder_version=”4.16″ _module_preset=”default” custom_button=”on” button_text_size=”16px” button_text_color=”#FFFFFF” button_bg_color=”#17174c” button_border_color=”#17174c” button_border_radius=”10px” button_font=”Montserrat|600|||||||” button_use_icon=”off” custom_padding=”15px||15px||true|false” custom_css_main_element=”max-width:320px;||width:100%;” global_colors_info=”{}”][\/et_pb_button][et_pb_button button_text=”I am a tenant ” button_alignment=”center” module_class=”tenant-form-btn” _builder_version=”4.16″ _module_preset=”default” custom_button=”on” button_text_size=”16px” button_text_color=”#FFFFFF” button_bg_color=”#17174c” button_border_color=”#17174c” button_border_radius=”10px” button_font=”Montserrat|600|||||||” button_use_icon=”off” custom_padding=”15px||15px||true|false” custom_css_main_element=”max-width:320px;||width:100%;” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#e31141″ custom_padding=”20px||20px||true|false” global_colors_info=”{}”][et_pb_row use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#FFFFFF” text_font_size=”18px” text_line_height=”1.2em” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” header_4_font=”Montserrat||||||||” header_4_text_color=”#FFFFFF” custom_margin=”||0px||false|false” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#e1f0f4″ custom_padding=”||||true|false” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/03\/work_hard02.png” title_text=”work_hard(02)” align=”right” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”50px||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” max_width=”400px” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” max_width=”450px” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n
Secured loans are loans offered from a lender to a loan recipient using property, or another valuable asset, as security or collateral.<\/p>\n
Most property put up as collateral is usually a home, so secured loans are sometimes referred to as second mortgages.<\/p>\n
Other common names are second charge loans, homeowner loans, or further charge loans. If you hear these terms used interchangeably, don\u2019t worry, they all refer to the same thing.[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.2″ _module_preset=”default” background_color=”#ffffff” custom_padding=”||||true|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”4.22.2″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_align=”left” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||||false|false” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_text module_class=”a-color” _builder_version=”4.23.1″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n
Managing your loan correctly means you can avoid penalties and the potential loss of your home. The following strategies can help you meet your repayments each month:<\/span><\/p>\n Prioritise Payments:<\/span><\/strong>\u00a0Never forget that your loan comes first. You can avoid missed payments by budgeting each month and ensuring there’s enough money.<\/span><\/p>\n<\/li>\n Streamline Your Account:<\/span><\/strong>\u00a0Instead of handling the monthly repayments alone, setting up a direct debit means the secured loan repayments automatically go out of your bank account.<\/span><\/p>\n<\/li>\n Explore Early Repayments:\u00a0<\/span><\/strong>Some secured loans come with early repayment options, which can reduce your interest and help you clear the debt quickly.<\/span><\/p>\n<\/li>\n Seek Support:\u00a0<\/span><\/strong>If you struggle to make secured loan repayments, you can get free debt advice from a specialist organisation like the\u00a0<\/span>Citizens Advice Bureau<\/span><\/a>. It’s also good to communicate with your lender, as they might offer a payment holiday or reduce your monthly repayments.<\/span><\/p>\n<\/li>\n<\/ul>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” custom_css_main_element=”display:flex;||justify-content:center;||flex-direction:column;” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/08\/family-alt.2e91b9bb.png” title_text=”family-alt.2e91b9bb” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n Secured loans follow the same application structure as you would have for any other loan:<\/p>\n \n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”10px||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n When it comes to giving collateral for a secured loan, it\u2019s important to be aware of what that means in the fine print.<\/p>\n In a secured loan, the collateral offered will be used as \u201crepayment\u201d if the secured loan is ever unpaid in the long-term.<\/p>\n Don’t panic – this doesn\u2019t mean if you\u2019re a day late on your payment you\u2019re going to lose your house. Often there are clauses for a payment being a little tardy. For example, a late fee might be added on. Some loans incur interest on any past due amounts.<\/p>\n When it comes to the property put up as collateral, action on that is usually taken if you’ve fallen behind payment on the loan, or you’ve significantly defaulted.<\/p>\n Without repayment, your property can be repossessed<\/strong> to help the lender recover the cost of the funds you borrowed. If a repossession occurs, the property will be sold and the money from the sale will go to the lender to pay off your debts.<\/p>\n \u00a0To be on the safe side and avoid any potential nasty repercussions, keep up with your due dates or even repay the loan early.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#e1f0f4″ custom_padding=”||||true|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” custom_css_main_element=”display:flex;||justify-content:center;||flex-direction:column;” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/08\/family-alt.2e91b9bb.png” title_text=”family-alt.2e91b9bb” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_align=”left” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text module_class=”a-color” _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n If you\u2019re applying for a loan where the amount is congruent with the value of your property, you\u2019ll need to start by working out exactly what that amount is. Next, consider what you can afford to repay. Once you know, you can decide how much to request from your lender.<\/p>\n When all your ducks are in a row and you know just how much you need and what your home’s value can support, it\u2019s time to formally apply.<\/p>\n The internet has made applying for loans of all kinds especially easy and secured loans are no exception. Apply online for a secured loan with a loan broker or directly with a lender.<\/p>\n At Believe Loans we help match you with a lender that best suits your financial needs<\/a> and is likely to approve your borrowing request. Working closely with a lender that\u2019s well versed in this financial arena can help you get approved quicker and with more favourable terms.<\/p>\n The loan application process is relatively straightforward, but be prepared to submit forms with personal information, home information, previous mortgage information and current income information.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” background_color=”#FFFFFF” custom_padding=”||||true|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_align=”left” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n At Believe Money, we broker loans from \u00a31,000 to \u00a32,500,000, depending on the value of your property and your ability to repay.<\/p>\n The more precise answer depends on the type of loan you’re after, your income, your credit history, your existing debts and the lender’s loan to value ratio.<\/p>\n Assessing your loan to value ratio will help you determine how much you can actually borrow from your loan provider. Ultimately it’s up to them, but having an idea will prevent you from over asking, which could cause immediate denial.<\/p>\n In terms of what a lender could approve you for, unsecured loans tend to go up to \u00a325,000. If you need to borrow more than this – up to \u00a3100,000, then you’ll likely be looking at taking out a secured loan.<\/p>\n Factors like a great credit report, a high value home, or even just a well-connected broker can sometimes help you access funds that you might not otherwise reach.<\/p>\n If you’re attempting to get a secured loan with bad credit<\/a>, it’s a good idea to prioritize lenders that work with lower credit scores.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.believemoney.com\/wp-content\/uploads\/2022\/04\/illustration-02.png” title_text=”illustration-02″ align=”right” _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.18.0″ _module_preset=”default” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” header_3_font=”|600|||||||” header_3_text_color=”#17174c” header_3_line_height=”1.2em” header_4_font=”|600|||||||” header_4_text_color=”#17174c” header_4_line_height=”1.2em” custom_margin=”||||false|false” locked=”off” global_colors_info=”{}”]<\/p>\n You don’t need a perfect credit score to get approved for a secured loan That’s because secured loans are backed by collateral, such as your home or car.<\/p>\n That said, lenders will still look at your credit history when you apply for a secured loan. They want to make sure you have a good track record of making repayments on time. If you have a poor credit score, you may still be able to get a secured loan, but you may have to pay a higher interest rate or provide a larger deposit.<\/p>\n Yes, they can be. Lenders see secured loans as less risky, so they’re more likely to approve borrowers with lower credit scores. You can use your home, car, or other valuable asset as security for a secured loan. The amount of money you can borrow will depend on the value of the property you put up and your affordability.<\/p>\n If you’re struggling to get approved for an unsecured loan, a secured loan may be a good option for you. However, it’s important to weigh the risks and benefits carefully before applying. Secured loans can be a great way to borrow money, but if you don’t repay the loan, you could put your home at risk of repossession.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.2″ _module_preset=”default” background_color=”#e1f0f4″ custom_padding=”||||true|false” global_colors_info=”{}”][et_pb_row use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.22.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_align=”center” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text module_class=”a-color” _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n There are several different types of secured loans available to borrowers. Common examples include:<\/span><\/p>\n Mortgage Loans:<\/span><\/strong> Also known as a second charge mortgage<\/a>, these are loans secured against the equity in your property, <\/span>but they’re subordinate to the first mortgage. <\/span>This means that if you default on the second charge mortgage, the lender will only be able to repossess the property after the first mortgage lender has been paid off.<\/p>\n Auto Loans:<\/span><\/strong> <\/span>Auto loans<\/u><\/span><\/a> finance the purchase of a vehicle, with the car serving as collateral. If the borrower fails to repay the loan, the lender can repossess it.<\/span><\/p>\n Secured Credit Cards:<\/span><\/strong> These cards require a cash deposit as collateral, which becomes the credit limit for the card. If the cardholder fails to make payments, the issuer can use the deposit as repayment.<\/span><\/p>\n Secured Lines of Credit:<\/span><\/strong> Similar to <\/span>secured personal loans<\/u><\/span><\/a>, these credit lines require collateral, such as a savings account or a property, to secure the credit. The lender can seize the collateral if the borrower defaults.<\/span><\/p>\n Home Equity Loans:<\/span><\/strong> These loans allow <\/span>homeowners to borrow against the equity<\/u><\/span><\/a> they have built in their homes. The home is collateral, and failure to repay the loan may result in foreclosure.<\/span><\/p>\n Bridging loans:<\/strong> These loans are short-term loans used to finance the purchase of a new property before the borrower has sold their existing property. The bridging loan is secured against your existing property.<\/p>\n Guarantor loans<\/a>:<\/strong> These loans are secured by a guarantee from another person. If the borrower defaults on the loan, the guarantor will be liable for the debt.<\/p>\n It’s important to note that the availability and terms of secured loans can vary depending on the lender and the borrower’s creditworthiness.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.22.2″ _module_preset=”default” background_color=”#ffffff” custom_padding=”||||true|false” global_colors_info=”{}”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”2″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.18.0″ _module_preset=”default” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.2″ _module_preset=”default” header_2_font=”Montserrat||||||||” header_2_text_color=”#17174c” header_2_font_size=”42px” header_2_line_height=”1.2em” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text module_class=”a-color” _builder_version=”4.22.2″ _module_preset=”default” text_font=”Montserrat||||||||” text_text_color=”#17174c” custom_margin=”||30px||false|false” global_colors_info=”{}”]<\/p>\n Regardless of what it\u2019s secured by, secured loans are loans guaranteed by another means to support the value of the loan.<\/p>\n Unsecured loans on the other hand, are sometimes called \u201cgood faith\u201d loans. That\u2019s because they\u2019re usually given based on that premise; good faith.<\/p>\n For example, in an unsecured loan application, a lender looks for someone who has good credit, high wages and excellent credit history making them appear more likely to repay their debts.<\/p>\n While most secured loans share many similarities with their less secure counterparts, the main difference between the two is the collateral required.<\/p>\n Usually, collateral offered needs to be of a value close to that of your loan amount. But that’s not the case for all secured loans, some loans will require collateral with a value higher than your loan amount.<\/p>\n\n
How does a secure loan work?<\/h2>\n
\n
Collateral for secured loans<\/h3>\n
How do you apply for a secured loan?<\/h2>\n
How much can I borrow with a secured loan?<\/h2>\n
What credit score is needed for a secured loan?<\/span><\/h3>\n
Are secured loans easier to get?<\/h3>\n
Types of Secured Loans<\/h2>\n
What’s the difference between a secured and unsecured loan?<\/h2>\n