If you're shopping for a loan for any reason, you've already realised that there's a dizzying array of loan types available. All the jargon can be confusing when all you want to find is the best rates for secured loans that you can afford. These are options for homeowners who want to avoid remortgaging their home, or who may not qualify for a loan under the strict guidelines of the high street lenders. Because you guarantee your repayment of the loan with your home, lenders will often give you better rates compared to other types of loans.
Even among specialty lenders there are wide variations in rates and conditions. While all lenders list their 'typical APR' for loans, those should only be used for first comparisons. Your own circumstance will make a difference, but every lender has different ways of looking at those circumstances. One may consider self-employment to always be risky, and offer a loan with a higher rate of interest to offset that risk, while another may weigh a stable home address more highly and offer a lower rate. Finding the best rates is a matter of checking with multiple lenders, and asking for quotes.
Shopping online is a great way to find the best rates for secured loans but it can still take time. Once you've decided on the amount that you want to borrow and how long you'll take to repay, get a quote to compare the best rates to get the best loan for your needs.