Secured loans –Frequently Asked Questions
The world of financial products and services can be a confusing one, and taking out a secured loan is a big step. Below we answer any questions you might have.

How much can I borrow?

You can borrow any amount from £5000 to £1,000.000 with a secured loan.

Over what period of time can I spread my loan?

This depends on the type of loan but you could get secured loans spread over a long period – the advantage of this is it makes your monthly repayments more affordable. However it does mean that you would pay more over the life of your loan.

Can you give me an example of what my repayments might be?

To get an idea of the kind of monthly repayments you will be expected to pay on secured loans, than why not use our on-line calculator to estimate your monthly repayments?

What can I use my loan for?

You can use Loansum secured loans on just about anything you like. How you spend your loan is your business, whether it’s for consolidating your debts, building a conservatory or taking a holiday.

Does it matter if I have CCJs, mortgage arrears or defaults?

No, we look to help everyone, whatever your circumstances.

Do I have to use my property for a loan?

All secured loans use secured against your home. The added benefit of this is secured loans do allow you to borrow more, spread your repayments over a longer period and pay a lower APR. This all means that your monthly repayments could be lower.

Do I have to pay for a valuation on my house, or legal fees to the solicitors?

No.

How do I apply for a loan?

Call us on Freephone 0800 848 8046 and we will be happy to explain our loan application process and to help you get started.

How do I know I have the best deal?
Loansum works hand in hand with the UK’s leading companies, who are committed to helping our customers’ applications run smoothly, giving you peace of mind.

How does Loansum work?

Loansum is a specialist broker that searches the market to find a low rate secured loan that’s right for you.

What other services does Loansum offer?

Loansum can also help you find mortgages and low cost life insurance with our partners Click4mortgages.

If you wish to discuss your requirements please do not hesitate to get in touch. We shall be pleased to assist. Call 0800 848 8046, or you can also email your enquiries to: help@loansum.co.uk.

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