accepted.co.uk - the loans search engine

When looking around for secured loans, you may be wondering what it is that you need in order to apply. How easy is the process? Do you need any details on hand? Well, if you have been wondering what you need look no further as here you will find everything that you need to know.

The Application Process

The application process will differ depending upon whether you want to apply online or over the telephone. It is mainly down to personal preference as there are advantages and disadvantages to both.

If you apply online it is generally a much quicker process than if you were on the telephone. This is fairly obvious as over the telephone the operator is asking you questions and then typing in your details and checking various pieces of information. Online however you simply have to type in your details and then click OK. It sometimes takes less than five minutes and it is not a very demanding process at all.

However, if you would like to apply over the telephone it gives you the peace of mind that you have actually spoken to somebody about the loan and you know exactly when you will be accepted and if you will be accepted. Usually the process takes around twenty minutes to half an hour over the phone so it can be quite time consuming. You will also need various pieces of information. You may know most of it but just in case it may be helpful to get some documents to hand.

Generally loan companies want to know:

- If you and your partner are working and what your salaries are

- The value of your home

- Various information about the home

- Bank details

Overall the process is usually fairly simple and you should find that it is not as strict as a unsecured loan, but that doesn’t mean that you shouldn’t look over the plan carefully. It is always worth knowing exactly what you are getting before agreeing to anything.

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This article was written by Derek Rogers on 31st January 2007. The views in this article represent those of the author and not those of Netbasic Limited.

One thing which is quite important to many people when taking out a secured loan is whether or not they have payment protection. Now generally loans of up to £25,000 are automatically covered by the Consumer Credit Act 1974 which is fairly strict about lending and who creditors can lend to. If you plan to get a loan of over £25,000 however, you will not be covered. So what are your options if you are getting a fairly large loan amount?

Payment Protection for Over £25,000

If you are planning on borrowing over £25,000 there is still a payment protection option available to you. However, many people do not usually take these out as they see them as being too expensive. There is always the thought of “What if I don’t need it and I am paying out all of this extra money?” Well, if you think like that one thing to keep in mind is that yes you might be paying extra money, but then you are secure in case anything does happen.

If you miss your payments on a secured loan for whatever reason your home can be repossessed. That way you would end up homeless and there would be nothing that you can do about it. However, if you have payment protection, depending upon the company you lend from, it will often cover things such as unemployment as well as other things which may go wrong. Life is full of surprises and anything can happen so it is always better to be safe than sorry. Also, often the extra expense for the payment protection is often added onto the loan so that you don’t really notice the extra money.

As with most things, it is always better to shop around and find the best payment protection plan to suit you. Every single plan will be different so take the time to look around at various companies and see which offer the best policies. Compare at least five different plans to get the best idea of what is available and make sure that the plan that you eventually choose is the right one for you. Ensure that it covers everything that you will need and never agree to anything before knowing what you are letting yourself in for. secured loans are serious and so you need to be sensible with the payment protection.

Overall shop around and don’t be too quick to turn down the payment protection. You never know what might happen so it is better to take out a policy just in case.

Derek Rogers represents Accepted , a UK based secured loans site.

WARNING: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS ARE SECURED ON YOUR HOME. 9.9% APR TYPICAL VARIABLE. 

Nowadays, there are plenty of advertisements on television that offer loans to home owners. The difference between a secured and unsecured loan means that you have something to offer if you fail to make the repayments with a secured loan. Most of the advertisements on television are for secured loans with a little note at the bottom of the screen reminding you that if you don’t make the repayments, you stand to lose your home.

However, for most people taking out a secured loan over a specified period shouldn’t be a problem. You might want to completely refurbish your home, for example, and taking out a secured loan may be the only way to do this. Or perhaps you have a sensational business idea and the bank will only lend you the money against your home. It is probably worth the risk if you are contemplating an entirely new way of life.

Sometimes people will secure a loan on the property that they are living in to buy another property that they want to develop. Lots of us are inspired by the programs on property developing and think that maybe we should try our hand. Those who find that they are really good at developing a property can make a lot of money this way; certainly enough to take care of outstanding loan payments and perhaps even a small profit.

Your home is a good asset if you want to borrow money for any major enterprise. You might want a much bigger car or you might decide to invest in a holiday home. Any loan repayments shouldn’t be too hard because the holiday home will help you to save on holiday expenses. No more overpriced hotels or expensive villas to hire!

Maybe you want to travel and see what you can of the world. Perhaps the only way to do this is to borrow the money. If you want to find out about secured loans, there is plenty of information available. You could talk to your bank or you could speak to one of an increasing number of financial service organisations who specialise in sourcing the best deals on secured loans.

Once you have an idea of how much you want to borrow, you should be able to find out what you can expect to repay. This depends on the interest rate and how much that varies over the time you are repaying your loan. If there is something that you’ve always wanted to do and you own your own home, you might want to look at the option of a secured loan. Of course, you should only borrow what you can comfortably afford to repay.

This article was written by Derek Rogers on 22nd January 2007. The views in this article represent those of the author and not those of Netbasic Limited.

WARNING: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS ARE SECURED ON YOUR HOME.

Accepted.co.uk offers users the ability to search among the homeowner loans of several financial institutions, and then apply for those that are right for them. The Web site addresses one of the most important needs of consumers seeking a homeowner loan: the lack of time to spare.

Accepted is intended to serve as a helpful consumer tool, whereby anyone can shop around for a better homeowner loan. Unlike banks' websites which usually only promote their own products, Accepted.co.uk searches loans plans offered by multiple banks' to find the loan that is the best fit for each individual. This personalised approach sets Accepted.co.uk apart from competing Web sites, and resonates with discerning consumers. The Web site offers users access to homeowner loans in 3 easy steps. Firstly, the user must fill in an online form with some personal details. This takes no longer than 5 minutes or so. Secondly, Accepted.co.uk searches 250 different personal loan plans offered by 12 of the leading finance house subsidiaries of major UK banks. Lastly, Accepted.co.uk sends interested users further details and paperwork to apply for the homeowner loan. The Web site also contains a section for those seeking bad credit mortgages. This section works in much the same way as the homeowner loan search, except that it searches brokers which are specialists in mortgages for bad credit including CCJ's, mortgage arrears, no proof of income or self employed. Accepted.co.uk is based in the United Kingdom.

The company is a licensed UK credit broker with the Office of Fair Trading. Visit http://www.accepted.co.uk/ to learn more.

WARNING: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS ARE SECURED ON YOUR HOME. 9.9% APR TYPICAL VARIABLE.