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Loans

12 Reasons to get a Secured Loan

Payam Azadi Director – Specialist Finance Expert · 2 min read

by

Published 14 January 2014 · Last reviewed 1 May 2026

Do you need a loan that you can repay at any time? We offer competitive loan solutions with low exit fees.

The New Year is often a time to reflect on your finances as it is not uncommon to have been caught up in the furore of overspending during the festive season. Zero balance credit cards might be the solution but they are not unfortunately accessible to all.

In my experience the prudent do want to be in debt for long and want to consolidate their finances into one single and manageable contribution so the repayment road is clearlyย mapped out in front of them.

There other equally astute customers appreciate that cash is king and want to reserve their cash for investments or business expansion in the year ahead.

Loans secured against property have always been cheaper than personal loans as the lender is offered a greater level of protection. However, what has put customers off has been the expensive and long early repayment charges that have applied to these loans. This issue has by and large been resolved with the vast majority of lenders limiting the exit charge to one monthโ€™s payment or notice in lieu. This has catapulting them into a much more viable proposition and in some instances making them even better than conventional remortgages.

Why you might want to take out a secured loan?

  1. Consolidate personal loans and credit cards.
  2. Keep existing first charge mortgage as it is on a good rate.
  3. Pay bills including HRMC tax returns.
  4. To invest into their business.
  5. Refurbish property where traditional mortgage funding not available.
  6. Acquire or refinance commercial property.
  7. Release capital from their buy to let portfolio to fund further property purchases.
  8. Fund major capital expenditure such as weddings, holiday of a lifetime, car purchase etc.
  9. Marital split – equity buy-outs.
  10. Unable to obtain a remortgage due to credit problems.
  11. Recently self employed without accounts.
  12. Need funds quickly.

Best Buy Secured Loans

  • Competitive rates.
  • Early repayment charges ย from ยฃ195.
  • Loans up to ยฃ2.5 million.
  • Residential loans up to 95% of the property value.
  • Buy-to-let loans up to 75% of the property value.
  • CCJs, defaults and mortgage arrears acceptable on some plans.

Typical APRC 5.4% variable

NICHE ADVICE LIMITED IS REGULATED BY THE BY THE FINANCIAL CONDUCT AUTHORITY.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. ALL LOANS ARE SECURED ON PROPERTY AND ARE SUBJECT TO STATUS.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

IF YOU CHOOSE A VARIABLE RATE LOAN THE COST OF YOUR PAYMENTS MAY INCREASE.

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