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2008-02-12 07:04:08
Low Variable Rate Secured Loans - Finding Yourself the Best Deal
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 As we have mentioned on this site before, not all secured loan companies are created equal, as you are probably very well aware of.
Some companies will look to rope you into secured loans in which you will be paying an arm and a leg in terms of interest rates, while other companies legitimately have your best interests at home, and will endeavor to offer you the lowest possible rates.
The two big questions are: what is a "good" variable rate to pay, and which companies offer these rates?
First off, let's answer the question of what a good rate is to pay. Now, the variable interest rate fluctuates based on prevailing interest rates. As of today, an acceptable variable interest rate for a secured loan would be between 8.5 - 9.0%.
Some companies will try to charge you absolutely ridiculous rates, such as 15%+. Make sure that you run, don't walk, away from these companies. With a secured loan, you are pledging the equity in your home as collateral against the loan. Because you are doing that, you shouldn't have to pay the same interest rates as someone with an unsecured loan would pay. So if a company quotes you 15% as a variable interest rate, then just hang up the phone and try at the next company.
Now - which companies will offer you the best rates?
Try the companies that have been around the longest. Try the long-established banks and building societies. There is a reason why they have been around for so long - they don't rip off their customers. You are likely to find the best rates with large lending institutions.
Make sure that any quote that you receive from a firm is given to you in writing.
Lastly, if you don't have the time to call and research on your own, then take the opportunity to fill out our form below. We will shop your deal around to the over 250 lenders that we actively deal with and find you the best rates. We aren't happy unless you are happy. Apply today!
Apply for a Lending Place secured loan today!
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Get Your Free Loan Offer Today - Click Here
There is NO FEE and you are under NO OBLIGATION!
We'll Compare over 250 loan plans and search over 90% of the loan market.
Applicants with bad credit history, Mortgage Arrears, Missed payments or CCJs are welcome.
A lot of big banks are competing for your business - Apply Today
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