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Masthaven Discounted Rate Secured Loan

Loan amount
£10,000 to £500,000
Overall cost for comparison
3.9% APRC
Loan Duration
3 years to 35 years

Reductions of up to 0.5% on the Secured Loans variable rate, with the new headline secured loan rate now 6.75% and the Lender fee still remaining at 2%. 75% LTV MSL Prime rate reduction by 0.5% to 7.95%. MSL BTL Secured Loans reduced by 0.4%, with a headline rate of 7.75% and 3 year fixed rates starting at 8.5%. All other MSL Secured Loans rates have been reduced by 0.4%.

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Paragon Personal Finance Prime Rate Secured Loan

Loan amount
£30,000 to £500,000
Overall cost for comparison
3.9% APRC
Loan Duration
5 years to 25 years

Paragon offer attractive rates with a representative 5.6% APRC VARIABLE. They provide second charge mortgages of any amount between £15,000 and £500,000. They can offer a repayment term of 60 to 300 months. Paragon make sure their loans are clear and easy to understand and you can always find out how your application is progressing. They do not charge a Telegraphic Transfer fee.

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What is a secured loan? 

When it comes to borrowing money, a secured loan is a higher risk as it is directly tied to something you own, normally your property, car or valuable piece of jewelry. 

Although this method is much riskier for you, it is less of a risk to the lender as it allows them to sell your personal belongings if you can’t pay your loan. Therefore, you are more likely to get a secured loan if even if you have a bad credit history. 

You can borrow a much larger sum of money using a secured loan and they also tend to accept longer terms, usually up to 10 years, which gives you longer to pay it back. 

Unlike unsecured loans, they are likely to apply restrictions as to what the money is used for. Some of the main types of secured loans include homeowner loans which are secured against your property and can last for anywhere from 3 to 35 years and logbook loans which are secured against your vehicle. The money you borrow with this type of loan can be used for any purpose. 

Another common type of secured loan is a bridging loan used to ‘bridge the gap’ between other finances being arranged. As this is more of a short-term funding option, they can be significantly more expensive than other types of loan.

FAQs about secured loans

Why might I need a secured loan?

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What can I use a secured loan for?

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How much does a secured loan cost?

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Can I get a secured loan if I have a bad credit history?

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What do I need to apply for a secured loan?

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Do I have to be a homeowner to get a secured loan?

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How long can I have to pay back a secured loan?

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What will happen if I can’t pay back the loan?

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Can I cancel my loan?

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