[img source:atlantismortgage]

Secured loans now becoming more and more popular since they are convenient and reliable. Mostly all lending companies have secured loans in their product line. For me, secured loan is one of the best loan type because it allow me to borrow large amount and for a longer period. But hey, as long as I have a good payment track record… who knows maybe one day I will apply for a secured loans for my next project.

But do secured loan can attract more homeowners in a practical way?

Borrowers can significantly cut the size of their loan repayment by opting for products which are secured against their home, an independent price comparison site has revealed.

According to MoneyExpert.com, the average rate charged on unsecured loan of £15,000 is 8.44 per cent.However, for a secured loan of the same sum, the average rate is 2.5 per cent less at 5.9 per cent. Sean Gardner, chief executive of MoneyExpert.com, said the findings marked a major change in the way that secured loans are perceived by the public.[source:financialadvice]