Frequently Asked Questions

What is a secured loan?
If you put up security or collateral to avail of a loan, then that loan is known as a secured loan.

What is a bad credit loan?
Persons who have arrears, defaults, bankruptcy, IVAs or CCJs against them are known as persons with bad credit history and the loans which are arranged for them are known as bad credit loans.

What is a home equity loan?
The equity in a home is the difference between the current market rate and the price at which you bought the home. So, a home equity loan is the loan taken by presenting the equity.

Medical loan - what is it?
A loan taken to cover medical expenses like surgery or medication is known as a medical loan.

What is a debt consolidation loan?
Unification of multiple debts is known as debt consolidation and the loan taken to repay such a consolidated amount is known as a debt consolidation loan.

Is payment protection recommended?
Yes, payment protection is recommended for any of these loans from Cheap Secured Loans UK as that would ensure repayment in case you are unable to.