Secured loans

That's right!

The minimum limit is usually set at £25,000. However, the exact amount will depend on the specific lender. Lending policy is closely linked to the loan amount requested, the asset(s) that the loan is being secured against, the length of the agreement and the risk posed by the customer applying for the loan. In comparison, an unsecured loan – where the finance is not tied to any asset or property – is typically for borrowings below £25,000.

Not quite

It is usually for borrowings in excess of £25,000. However, the exact amount will depend on the specific lender. Lending policy is closely linked to the loan amount requested, the asset(s) that the loan is being secured against, the length of the agreement and the risk posed by the customer applying for the loan. In comparison, an unsecured loan – where the finance is not tied to any asset or property – is typically for borrowings below £25,000.