Secured Loans

Secured personal loans require the borrower to provide some sort of material security to the lender in the form of property. This property can be owned outright by the borrower, or it can be mortgaged. In general, secured personal loans are easier to obtain, as the lender has that added security, providing them with a certain protection against the borrower's inability to repay the loan.

Secured personal loans from DBS Finance which are obtained by using property owned by the borrower, with no existing mortgage in place, as the security are known as first charges. If the property used to secure the loan is mortgaged, then it is considered a second charge. It should make no difference to the lender whether the borrower's property is owned outright or mortgaged, but your interest rate, which is called the Annual Percentage Rate, or APR, might vary depending upon the circumstances of the property. In general, the APRs quoted by lenders should be seen as a guide only. The exact APR offered will be on an individual basis.

Secured personal loans vary in amount, with values that range from £5,000 to £100,000. Some lenders will consider amounts up to £200,000. Depending upon the borrower's circumstances, secured loans can amount to 125% of the property value of the security. Secured loans can be used for a multitude of purposes, including debt consolidation. Secured loans are repaid on a monthly basis or a predetermined term, usually with penalties for early repayment. It would be wise to make inquiries about this as well as taking steps to compare loan agreements from different lenders. The length of the secured loan's term can range from three years to as much as twenty five years.

As stated above, secured personal loans are usually much easier to obtain. In addition to the security afforded the lender, this also means that people who are either self-employed or between jobs can more easily obtain secured loans. People with adverse credit will have a better chance of getting secured loans than they would unsecured personal loans. Secured loans are also beneficial for borrowers who desire larger amounts or a longer repayment term.

Get your secured loan from DBS Finance – no matter what your circumstances. Call us toll free or apply online now!

DBS Finance were great. I’m so glad I chose them. all my money problems were solved. They were patient and understanding in what was a very stressful situation. Thank you for such great service! Mr & Mrs D - Northampton

IMPORTANT NOTE: Rates Subject to status. Loans secured on property. Written quotations upon request. Typical rate between 5.59% and 14.3% APR dependent on status. Loans between £5,000 and £200,000 available. Current Max LTV 85% THINK CAREFULLY BEFORE SECURING OTHER DEBTS / LOANS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT / LOAN SECURED ON IT.