accepted.co.uk - the loans search engine

When it comes to white and audiovisual goods, Brits place quality before price, according to a report by Which?.

However, as economic times get tougher some people may find it difficult to be able to afford new equipment for the home.

Some 46 per cent of those questioned by Which? said they intended to reduce their spending in the coming year.

Jess Ross, editor at Which?, said: "Difficult times call for extreme measures and it's clear that some people won't be splashing out on luxuries in the near future."

Nevertheless, if the washing machine packs up or the fridge breaks down it is not always possible to wait to replace them. In cases like these a secured loan could be a good option.

According to the Thrifty Scot, secured loans are a good way of borrowing for homeowners as lenders charge less interest because their risk is reduced.