A secured loan is a home loan, also called a homeowner loan; and is a loan that is secured against your home. Like a mortgage, it means that your home may be at risk of repossession if you are unable to make the monthly repayments on a secured loan.
As the loan is secured against your home, you can normally borrow higher amounts than through a personal loan (for example over £25,000).
A secured loan in Barnstaple or elsewhere in North Devon is often suitable if the amount you wish to borrow is large (for example over £25,000), or if you wish to repay it over a longer period. This is because many lenders will be happy to lend higher amounts for longer if the loan is secured against a property.
