1. How much can I borrow from a secured loan?

    Secured loans offer higher amounts compared to unsecured loans. If you need a big amount, a secured loan is the best option. The amounts often range from £5,000 to £50,000 but there are some credit companies that offer amounts beyond £100,000.

  2. What are the qualifications?

    You must be over 18 years of age and own the property, vehicle or item you are using to secure the money you want to borrow. You must also be a legal citizen of the UK. Unlike unsecured loans, you do not necessarily need to be employed to be approved for credit.

  3. What can I use as security?

    Generally, secured loans are taken out on homes or vehicles but there might be some other possessions you have that other creditors will accept as collateral, such as jewelry or other properties.

  4. How long does it take to process a secured loan application?

    The processing time for each type of secured loan depends on a case-to-case basis. Some loans take lesser time to process like logbook loans and some may take longer. Quick Secured Loans will assist you in the faster processing of your loan applications.

  5. How do I make payments for my loan?

    You will pay your creditor directly at the fixed monthly amount you agreed upon at the time of approval. Repayments are often divided into long-term commitments, also depending on what is agreed upon at the time you take the loan out.

  6. What should I be aware of?

    Secured loans are designed to secure the creditor. Generally, if you pay your debt on time all the time, there are no risks. However, if you fail to do so, you might face the risk of losing your home or your vehicle or whatever it is you used as collateral. You should always be aware of the repercussions of not paying what you owe whether you have taken out a secured or an unsecured loan. If you are facing financial difficulties and you think that you won’t be able to make your payments, consult a financial adviser or get free advice from government credit agencies. Other than that, there should be no worries on your side because Quick Secured Loans is here to help you find the most suitable loan for your situation.