When making a large purchase or fulfilling a significant financial goal, you do not want to disturb your savings. What you need is guaranteed secured loans for bad credit.
Advanceloanday is the responsible lending place for these loans, with the most competitive interest rates and manageable repayments. Since you are securing your loan, we are ready to bring guaranteed approval for you. Still, it will depend upon your loan affordability.
We offer secured loans online, making it comfortable for you to get the desired amount as early as possible. Start your long-term financial plan with these loans, include the following features:-
Secured loans in the UK are one of the most preferred forms of borrowing, which must be secured with a valuable asset.
If you secure a loan with collateral, it works as a guarantee of loan repayment. It allows lenders to feel relaxed while approving a loan for you despite your poor credit score being unattractive.
With these loans, the lenders can offer you a large amount for a longer duration. These will be on much better interest rates than unsecured loans. Providing the collateral against the loan will also enable you to improve your credit scores as loan repayment is assured. Still, it is crucial to know that your asset will be at risk, as the lender can take possession of it if you do not make the loan repayments.
Therefore, ensure you can easily afford the loan repayments until the term ends.
There are no second thought how useful are secured loans for poor credit people. We do not mind your past credit mistakes since there is an assurance of loan repayment from your end.
We aim to allow loans suitable for everyone seeking substantial financial support. Still, secured loans are ideal for these individuals:
Salaried people
These loans are perfect for salaried people as they can manage loan instalments from their monthly income. Since the repayment term will be longer, the monthly instalments will be lower to control what you can do from your earning.
Homeowners
Those living in their own home are ideal candidates to apply for secured loans. They can use their home as collateral and fetch a large amount to borrow. Secured homeowner loans are more suitable for those with credit issues than any other option.
Self-Employed
People who are indulged in self-employment can easily qualify for loans. They also earn stable monthly income most of the time and thus can promise proper loan repayment. We can approve secured loans for self-employed with no accounts proof to show, as they have pledged an asset.
You can utilise secured loans for any relevant financial purposes. We offer loans with great flexibility as you get an affordable product from us. It will suit your financial needs and free you from any hassle while implementing your plans.
The most common reasons include the following:
Large purchases
Secured personal loans are ideal for applying when buying a costly gadget for your home, managing expenses of an extensive family holiday trip, purchasing a brand new car and many more.
Business needs
We provide secured business loans that you can get to purchase new equipment, locate another branch of the company, renovate office premises, expand your business at other locations, etc.
Home improvements
Many people seek secured home improvement loans to bring necessary improvement to the appearance of their home and increase its value simultaneously. Home improvement involves more considerable expenses, and these loans are better than remortgages.
Debt consolidation
When you have large debts to pay, you cannot sleep comfortably at night. You need to find out a solution, and secured debt consolidation loans are perfect for this matter. You will bring all your pending debts into one place that involves a single interest rate to pay.
Apply online for secured loans
Feeling confused how to apply for secured loans? Get personalised loan advice from our experts without paying anything.
There are several ways to secure a loan. They all determine your loan affordability and set a suitable interest rate for your loan deal. Whatever asset you want to pledge should have an equal value to your borrowing amount.
You can submit loan security in these ways:
Car: You will be eligible for secured loans against a car that should be in a good condition and not older than 5 years. You should be the owner of the vehicle.
Property: It is the most preferred way of securing the borrowing amount. We can offer secured loans against property which the local authority has registered. It can include your home or rental property, and business owners can use their commercial property to get a loan.
Pension: You can avail of loans secured against a pension. Contrasting to other direct lenders in the UK, we can consider your pension the repayment source.
Secured loans are a better option when you need a large amount and are ready to repay for longer. The situations to apply for loans differ according to individual circumstances. Using your property, car, or pension can also fetch lower interest rates.
Still, these loans involve considerable risks that you cannot ignore. Therefore, you need to follow these points:-
Getting secured loans on bad credit from a direct lender brings many advantages. These include:
Large amount to borrow
We will assign you a large amount because you have collateral. You can use that amount to fulfil a substantial financial goal or to avoid any financial hassle during a bigger purchase.
Loans for longer duration
Secured home loans are often available for a more extended duration. You can better manage loan repayments than short-term personal loans.
Affordable interest rates
There is always a chance of getting secured loans on low interest only. Lenders are at no risk when lending these loans as they reserve the right to possess your pledged asset.
Guaranteed approval
Affordability will pave the way for guaranteed secured loans for bad credit people. When both loan provider and loan applicant are sure about loan repayment, there is always a chance of guaranteed loan acceptance.
Facts of secured loans explained
Securing the loan using your home, car, or property allows you to obtain a large sum of money. The final amount will be decided on these factors:
Based on these, we can offer secured bad credit loans between £20000 and £100000. You can see we have a variety of options for you.
Secured loans can involve both long and short-term repayment terms. If you borrow for an extended period, your monthly instalments will be reduced, making loans more affordable. However, you need to pay more interest in total.
In contrast, shorter repayment terms involve a lesser interest rate as a whole, but the monthly repayments will be higher. It is vital to analyse your loan affordability before choosing the repayment term. We have terms ranging from 5 to 30 years.
Secured loans require security against the borrowing amount. It can be your home, vehicle or any other asset registered with your name only.
Like any other loan, you get a lump sum amount that you must repay through fixed monthly instalments besides the interest rates. You and the lender must agree on the loan term and repayments scheduled for a particular duration.
You can apply for secured loans online by completing a single-page online form. We do not ask for many documents to submit, and we can analyse your loan application on a soft credit check criterion.
If you find yourself in a manageable position to repay early than the agreed term, you are welcome to do so. We do not have early repayment charges. If you want to make late repayment due to unavoidable circumstances, you need to contact us as early as possible.
We can provide our financial support by offering the best-secured loans. These will suit your financial situation and specific needs. We cover every loan aspirant irrespective of income type, credit score, and affordability.
With flexibility and a simple online process, there is always a possibility of getting loans for bad credit on an instant decision. We bring a variety of loan amounts and repayment terms, which allow you to control your future finances.
Call us or start applying now and get a no-obligation quote. Remember, making an enquiry or obtaining a loan will not affect your credit rating.
The two modes of applying for a loan are secured and unsecured. In secured loans for people with bad credit, you can fetch a larger amount for a longer duration and at a lower interest rate.
When it comes to unsecured loans, there is no collateral involved, but you can get only a small amount to borrow at a higher interest rate. Secured loans are more useful for planned expenses, while unsecured personal loans are ideal for financial emergencies.
We accept only online loan applications, and thus everything will be quick. Depending upon your loan application and the mentioned personal details, there is always a probability of getting the desired amount on the same day.
You need to repay the borrowed sum according to the given schedule. If you do not repay, the lender can use the pledged asset to compensate the remaining loan amount. It will also reflect in your credit record, which is unsuitable for future loan opportunities.
Most times, lenders agree to offer secured loans only to those homes. They offer loans against property only. We follow a softer approach where we can accept other assets. However, they should have a value equivalent to the loan amount. You should go for unsecured loans only if you lack any other asset.
You can improve your overall credit score by repaying the whole amount under the given schedule. Even if you miss the repayments, your credit score will improve as the loan amount will be returned to the lender through your pledged asset.
I am feeling pleasure after having secured a loan from Advanceloanday. You guys are amazing in timely service, and the loan deal has the right terms for any borrower. I applied for these loans with bad credit, but now my finances are safe, and my credit score has been on the way of improving. Thanks a lot.
-Jayden, London, UK
I will never hesitate to refer to the name of Advanceloanday to anyone. Yes. I am delighted with the financial help and loan deals of the company. I opted for secured loans for self-employed with no account feature. It was quite helpful, and now I have been repaying the amount easily on time to feel satisfied. Very glad to have your services.
-Ethan, Birmingham, UK
There is nothing like a miracle for me. Two months ago, I lacked funds and had to do a big renovation of my house. One of my friends told me to apply for secured loans from Advanceloanday. I did the same and got the funds on the same day of my application. It was a nice experience for me with the company, and I will refer it to everyone.
-Grayson J. Leeds, UK