Many people nowadays need money for remodelling their houses, holiday expenses or important medical procedures but have a hard time putting some aside. In such situations, some start thinking about the possibility of getting a loan by analysing the options they have. For most people living in the United Kingdome, this road often leads them to the situation in which they have to choose between getting a UK secured loan or an unsecured loan. The fact that each of these loans has a unique set of features, advantages and disadvantages makes the decision even harder. 


If your mind is set on secured funding, it is good to know that some companies offer loans to borrowers who own valuable pieces of art, jewellery, cars and musical instruments.

Another relevant point when it comes to deciding what type loan you should get is credit history. Some people asking for a fresh lend may already have several past loans which they have failed, leading to high mortgages and debts, even CCJs against them. The benefit of a secured loan is that your bad credit will not affect the lender’s decision when it comes to your loan. This means they are only interested in having a way of getting their money back, so if you do not have something to offer as collateral you will need to have a good credit history and a strong income that can support the payments. In situations in which you apply for an unsecured loan but have a bad credit, the lenders will lower their risk by enforcing a higher interest rate.


Apart from a lower interest rate, secured loans have many benefits such as the possibility to extend the period of repayment as much as the borrower desires. Some lenders offer financial support for as long as 30 years, but if you choose to extend your debt over such a long period of time you will probably have to face an unbearable interest rate. Experts will discuss with you how long the loan term should be, in order for you to get the money you need without having to pay a lot over the borrowed amount. The most important aspect and indeed the main disadvantage of getting a secured loan, that the loan company  might claim your property in the event you fail to respect the obligations presented in the contract.

If you wish to get a UK secured loan you should ask for the help of the best agents in the business. Logbook Loans will help you to get the secured personal loan you need, without asking for credit history or other information on your financial background. Come close the deal with the largest lender in the United Kingdom!