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With the ability to get rates as low as 4 or 5 per cent, many borrowers are turning to secured finance for the credit or investment needs. Many people believe that secured loans are only for mortgages and car loans. However, many Brits are turning to secured products in order to pay down higher rate debt, fund home improvements or projects, and even invest in their own businesses. Home equity loans or other secured personal loans are growing in interest as annual percentage rates (APR) continue to fall, with Bank of England base rate cuts.

Secured finance is simply debt acquired by offering the creditor property as collateral in order to guarantee the loan, get a better rate offer, or improve terms. Many people rely on secured loans for various reasons. Some people secure their loans out of necessity. Lenders require bad credit borrowers to secure loans, at times, because of the risk associated with their credit behavior. Other borrowers just want to get the best available rates, or the highest available loan amount, and offer property as collateral to put the lender at ease. With great rates available to excellent credit borrowers in today's lending market, many people are looking to secured finance as a funding source for home improvements, projects or vacations, or as an investment source to fund a business.

There is, of course, some risk involved with securing a loan. The reason lenders appreciate the secured cover is that they have leverage in the event of non-repayment by the debtor. If someone does not pay their debt, the creditor could potentially repossess the secured property. This not only protects the lender, but often motivates borrowers to only take out loans they can repay.

Because of low rates, many consumers are using secured homeowner loans or personal loans to consolidate higher interest credit card debt, or unsecured debt. With national credit card debt increasing, it seems logical that debtors would be trying to find better rates.

Getting a great rate on secured financing can mean the difference between a new business starting, or not, or a current business expanding, or not. Getting great rates through secured loans can help businesses retain necessary profit that helps make their business successful and able to meet ongoing expenses.

As with any loan products, consumers need to take their time to find the best loan product to meet their needs. Rates and terms vary from one lender to the next and products can be confusing to sort through. This is why many consumers turn to loan brokers to find the right products and terms. Loan brokers are independent liaisons who help match customers with the right products and rates.

Independent brokers typically maintain relationships with hundreds of lenders and have access to a large number of loan products and rate offers. By consulting with consumers through online forms, or through other contact points, brokers can discover consumers' specific needs. They can then use their knowledge of the secured finance market to find the best options available at the lowest rates.