Often people hear about the words secured loans and other people discussing them , and they then start to wonder what in fact secured loans are ,as the word secured seems an odd word when talking about loans.

People have heard of car loans, home improvement loans, etc., but still they are not up as it were on secured loans .

The meaning of secured loans is apparent in the very core words of the name .

The clear meaning of secured loans and what they are becomes completely obvious when you take into account that another name for secured loans is homeowner loans.

The words homeowner and secured make it very clear what sort of loans they are, and that is they need security and only homeowners can obtain secured loans.

Some have borrowed secured loans in the past without realizing that theu had in fact done so.

One example of this concerns car loans, caravans loans, boats etc. where the loan is actually secured on the vehicle itself.

In these cases the loan relates to the caravan, motor bike itself etc. and the loan cannot be used for any other purpose..

Car loans are secured against the worth of the actual car and are available to those who own their home and to people who only rent

The group of secured loans, which are also know as homeowner loans are something quite different from car loans that are also available to tenants where as the other sort of secured loans are not

Secured loans , otherwise homeowner loans need to be secured against collateral which is the property itself, and that is what makes them only available to people who own the property in which they live..

Secured loans that are secured in this way are available between 5,000 and to a maximum of 100,000 with the majority of secured loan lenders although some secured loan lenders are prepared to offer much more than this even up to around 500,000 providing that the applicant has enough equity and income Obviously for such large loans the equity and income of the applicant would need to be considerable.

Secured loans have low interest rates and the flexibility of being used for almost anything in addition to their long repayment periods. They are also excellent consolidation loans

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