People take secured loams for many reasons. Secured loans are loans from financial organisation that need collateral to be pledged. It means that you can offer a lender your house as collateral in exchange for money. There are various benefits attached with a secured loan which are discussed in detail below:

1. Cheap rate of interest: -Secured loans come at a cheaper interest rate because of the presence of collateral. The lender gets guarantee of collateral thus he charges less interest. Many borrowers question the disparity between the rates publicised and the actual rates that they have to pay. There may be several reasons for these differences. The rates of interest shown by the lender are the standard rate of interest. However, depending on the value of collateral, borrower