Secured loans often called as home owner loan, is a loan where the lender secures collateral against the loan. Because of the security provisions for the lender, secured loans are obtainable for larger amounts than it is in an unsecured loan.

Secured loans are available to those people who may not have the essential good credit record necessary for an unsecured loan. Many secured loan providers will not make your bad credit an issue and embrace people with mortgage arrears or CCJ's. Secured loans can take longer to happen than an unsecured loan, due to the formalities involved in securing the loan against your home. Secured loans are ideal for the homeowners who wish to borrow a large amount over a longer repayment term.

Secured loans are ideal for debt consolidation and home improvements. But that is not the end. You can use money borrowed from secured loans virtually for any purpose-from holidaying to funding for your siblings