SECURED LOANS INFORMATION

Please see information on Secured Loans below.

        

What is a Secured Loan?

A secured loan is a loan which is 'secured' against a large personal asset this is usually your home or car. In other words, if you own (or partially own) your home or car, you can take a loan against it.

Where can I get a Secured Loan?

Secured loans are offered by banks and independent lenders in Australia. There are some variations, such as car loans (valued just against your car) or home loans, so take your time and look around for offers. Check our comparison page on secured loans to view a range of some of the top lenders. Look at how much they offer, what the rates are and how long you can borrow for.

What are the Benefits of a Secured Loan?

Because you are receiving a loan against the value of a large asset such as a house, you are able to borrow more some companies offer as much as $100,000 or even more. However, the amount you can borrow depends largely on the value of your chosen asset.

Because the lender is able to use a physical asset to use as a guarantee, they are dealing with less risk but for the borrower, there is more at stake (read Risks below).

What are the Risks?

For the borrower, a secured loan carries with it the risk that if you fail to meet loan repayments you could lose your property (your home or car). If you want to borrow smaller amounts, perhaps consider an alternative type of loan.

Please bear in mind: YOUR HOME COULD BE REPOSSESSED IF YOU DO NOT KEEP WITH REPAYMENTS ON A SECURED LOAN.

        


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