Personal Loans

An unsecured loan is a loan that does not require the borrower to secure the debt against an asset, usually a property.

A secured loan, also referred to as a second charge loan or homeowner loan is secured on your property by the lender as 'collateral' in the event of a default. In some cases this increased security means that the lender can offer a secured loan at a lower APR (Annual Percentage Rate) than a less secure unsecured loan. A secured loan is also a way for a homeowner to use the equity in their property to raise additional finance.