What are Secured Loans?

Secured loans are one of the most popular personal loans options available today. Their popularity is based on the fact that interest rates are usually lower than other types of loan, and repayments are available over longer time periods.

A secured loan provides a means to raise a cash lump sum using some form of collateral on which the loan is secured. The collateral acts as security for repayment of the loan in the event that you are unable to meet your loan repayment commitments.

A secured loan is a loan where you pledge your home against the amount of money borrowed. In the event that you default on the personal loan, the lender can sell your home to recoup the loss.

A secured loan is a type of loan available to people with securable assets. Usually these assets take the form of property, such as a home; this is why secured loans are often referred to as 'homeowner loans'.

You do not have to own your own home outright to be able to take out a secured loan; if you have a mortgage you can put the proportion of the home that you own up as security.

Secured loans require some type of security to be provided to the lender. This security can be a home or other high valued possession. These items are provided to the lender as security or collateral in case the person who is taking out the secured loans does not repay the funds.

Secured loans are quick to arrange as property is always a good form of security for the lender. Consequently, the terms are normally better, with larger loan amounts, longer repayment periods and better interest rates than those you would obtain for an unsecured loan.

For people with little or poor credit history, a secured loan is probably one of the easiest ways to access credit.

Secured loans can be used for a variety of reasons including: home improvements, debt consolidation, mortgage arrears new car or luxury holiday.

The main benefit of a secured loan is that, typically, they offer a cheaper interest rate than unsecured loans. Getting approval for a secured loan is also a lot easier than for an unsecured loan.

If you are looking to borrow over a longer period of time and have assets available to place as security, a secured loan might be your best option to finance a large purchase, or to refinance existing debt.

You may freely reprint this article provided the author's biography remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.canada.com/topics/news/world/story.html%3Fid%3Dd7ad48d4-8789-437d-9ee2-022bf0a5a7d5cid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNFvOJAwQdvEo4k-u1RLusIVcGu-Ygimg src=http://news.google.com/news?imgefp=b2_WHVKjDYsJimgurl=a123.g.akamai.net/f/123/12465/1d/media.canada.com/idl/ntnp/20081122/ntnp_20081122_fp005_motorcityseeksa_95372_mi0001.jpg%3Fsize%3Dl width=80 height=80 alt= border=1brfont size=-2Canada.com/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.voanews.com/specialenglish/2008-11-20-voa4.cfmcid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNGlTU7NEeodImcpeCvKP9ojsY53wQCongress Delays Action on Auto Industry bLoans/b/abrfont size=-1font color=#6f6f6fVoice of Americanbsp;-/font nobrNov 21, 2008/nobr/fontbrfont size=-1The chiefs of General Motors, Ford and Chrysler asked for twenty-five billion dollars in new bloans/b. Congress already approved twenty-five billion in b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/ousiv/idUSTRE4AI13H20081119cid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNESPCDB2LTE4eKD_jNexxIpuWBNcAFord says could wait on US bloans/b until 2009/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/Detroit-Regions-Businesses-Urge-Congressional/story.aspx%3Fguid%3D%257B3BF25E89-D19F-4A85-8203-3B0932B38AE0%257Dcid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNH2LXOb6iGZEjDr955KBw345PbpswDetroit Region#39;s Businesses Urge Congressional Compromise on bLoans/b b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.lansingstatejournal.com/article/20081123/OPINION01/811230556/1086/OPINION01cid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNH_hnqauQ76z2b5f6kUAKujtLoqkwForce out execs to sell auto relief funds/a font size=-1 color=#6f6f6fnobrLansing State Journal/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.indystar.com/article/20081123/BUSINESS/811230328cid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNFPix4558dpk7DLUyo-n9yXiEzb3QnobrIndianapolis Star/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.upstatetoday.com/news/2008/nov/22/local-players-auto-industry-advocate-assistance/cid=1273643967ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNHMNV-h2b_cW7VtB65sn9_QGk3WIAnobrDaily Journal/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1273643967hl=ennobrall 1,383 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.statesman.com/business/content/business/stories/statesmanhomes/11/23/1123upsidedown.htmlcid=1273465247ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNF-KZ9l5xX9jOgYnPhbmdUGnq2m_wPlans change as some owners get upside down on bloans/b/abrfont size=-1font color=#6f6f6fAustin American-Statesman,nbsp;TXnbsp;-/font nobr22 hours ago/nobr/fontbrfont size=-1The threat of walk-aways prompted the Federal Housing Administration to tighten rules about bloans/b to buyers who say that rent from their old home will help b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://freeinternetpress.com/story.php%3Fsid%3D19233cid=1273465247ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNEIa376LE6LKgKkVPIbkZ1ccCdRsgThe Next Subprime Crisis Looms - FHA-Backed bLoans/b/a font size=-1 color=#6f6f6fnobrFree Internet Press/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bostonherald.com/news/regional/view.bg%3Farticleid%3D1134250cid=1273465247ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNG_PZZgh32zBRfR-Wrhjq6OsxbjNQSpringfield gains aid from Federal Housing Administration/a font size=-1 color=#6f6f6fnobrBoston Herald/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1273465247hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.themoneytimes.com/articles/20081123/downey_and_pff_bank_join_the_list_of_failed_banks-id-1042325.htmlcid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNEQvFU0cltqRloQQPZj_iGiwEkshgimg src=http://news.google.com/news?imgefp=D8WlKfv1htUJimgurl=www.themoneytimes.com/filess/pff.jpg width=80 height=56 alt= border=1brfont size=-2The Money Times/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.contracostatimes.com/california/ci_11054118cid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNHvoCNx97YzJVzUjgi-JGiszuh49QPFF now US Bank/abrfont size=-1font color=#6f6f6fContra Costa Times,nbsp;CAnbsp;-/font nobr11 hours ago/nobr/fontbrfont size=-1US Bank will modify the terms of certain mortgage bloans/b in accordance with the FDIC Mortgage bLoan/b Modification Program. Between Downey Savings and PFF Bank b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.dailypilot.com/articles/2008/11/22/topstory/dpt-downey112308.txtcid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNH9N_QgKei5Hiyhh8bx9DXT-aNc8Q• Downey closes due to losses/a font size=-1 color=#6f6f6fnobrDaily Pilot/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.latimes.com/business/la-fi-downey21-2008nov21,0,7721667.storycid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNFbGNm0ebXxbLjv8DP9Tu3LhmR4VwDowney Financial could be next bank casualty/a font size=-1 color=#6f6f6fnobrLos Angeles Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/11/21/AR2008112104099.htmlcid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNFqOaLRKbLc_2hfM1_tSuNJ4VGGGQFDIC Seizes Three Banks, Expanding bLoan/b-Relief Effort/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.forbes.com/feeds/ap/2008/11/22/ap5729925.htmlcid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNH_zaCvwBmoE3hyRXXFk3sJlzs1WgnobrForbes/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601103%26sid%3DaAyVj8SZ7Y0I%26refer%3Dnewscid=1273004320ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNG6xEEugmiqouq3MzuwMT0OtHFcGQnobrBloomberg/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1273004320hl=ennobrall 825 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/euDealsNews/idUSTRE49N5VU20081119cid=1272622308ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNEhVUu10vqV_ihgvtM7WyDBMOaywAimg src=http://news.google.com/news?imgefp=FO5xo1tVAYYJimgurl=www.reuters.com/resources/r/%3Fm%3D02%26d%3D20081119%26t%3D2%26i%3D6878365%26w%3D192%26r%3D2008-11-19T220755Z_01_BTRE4AI1PHD00_RTROPTP_0_MARKETS-STOCKS width=80 height=60 alt= border=1brfont size=-2Reuters/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.cbsnews.com/stories/2008/11/21/earlyshow/main4623049.shtmlcid=1272622308ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNFbIjVqBaQitgA1qTn8y9Fq401hHgWho#39;s Getting $2 Trillion In Fed bLoans/b?/abrfont size=-1font color=#6f6f6fCBS News,nbsp;NYnbsp;-/font nobrNov 21, 2008/nobr/fontbrfont size=-1The Federal Reserve Board has been quietly providing $2 trillion in quot;emergencyquot; bloans/b to banks, and the pace has been quickening, Early Show National b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DEjPYdXmXMRQcid=1272622308ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNEJtSRn7qHPTyDEj5MJ1jUeSWl1aQVideo: Consumer Prices Drop Record 1 Percent in October/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/EjPYdXmXMRQ/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/EjPYdXmXMRQtype=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloggingstocks.com/2008/11/20/can-the-fed-fight-deflation-how/print/cid=1272622308ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNEdqP_i2IOS8GVxH-Ef_RIDNPMNrgCan the Fed fight deflation? How?/a font size=-1 color=#6f6f6fnobrBloggingStocks/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.cfo.com/article.cfm/12652551/c_12636493%3Ff%3Dhome_todayinfinancecid=1272622308ei=SqgpSYGpN6bU6gPI0IDvCgusg=AFQjCNF0N6-x90qkNQnDrkq8FkTcLslJQADepressing Times/a font size=-1 color=#6f6f6fnobrCFO.com Magazine/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1272622308hl=ennobrall 1,631 news articles/nobr/a/font/div/font/td/tr/table
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