In the simplest of terms, what is a secured loan?
When you take up a loan, there is risk involved for the lender. Therefore, you can pledge your house or other assets as a guarantee for the loan, in order to decrease this risk. This pledging is referred to as securing the loan. A loan that you secured using one of your assets is known as a secured loan.
What makes these loans better than other alternatives?
If you can afford to opt for a secured loan, it is always better to do so. The reason behind this is the fact that due to the decreased risk, you also enjoy decreased cost. Compared to the likes of many unsecured loan holders, secured loan holders enjoy a significantly lower cost, especially if they have commendable credit ratings. Therefore, for starters, they are much more affordable. Add to this the incredible ease, better approval rates and lack of paperwork, and you have yourself a perfect loan.
Who are these loans really for?
The fact that these loans are in fact 'secured' loans clearly states that they require you to be able to secure them. Therefore, if you have a house that you can put up as a security for one of our loans, you are more than good to go.
In addition, although it may seem preferable to get loans without the need for collaterals, these unsecured loans come with relatively higher costs and thus, if you are looking for a much affordable alternative, you are in the right place.
Furthermore, many loans are known for their exhaustive credit-checks and never-ending processes. These can at times suck out that charm. At North London Loans, we ensure this is not the case. To make these loans well within your reach, we ensure that we get you loan deals that only put you through what is absolutely necessary and nothing more. Therefore, if you are looking for loans that do not put your through consistent trouble before you get your hands on the money, these loans are for you.
Is North London Loans the real lender?
No. As mentioned on many different places on our website, the purpose of North Loan Loans is to act as the medium that ensures that you reach the loan that suits your preferences and needs in the best way possible. With too many lenders like Brightstar Financial and their offerings, this is seldom possible. Most of the time, you can't even tell if the loan you got is the one you wanted. By acting as that medium, North London Loans make this choice an easy one for you, allowing you to compare, contrast, and decide exactly what you want. Whether you are going according to your liking or pocket-size, our contacts with leading lenders allow us to boast having something for just about everyone.
How does it all work?
Our website is designed for the purpose of being the place where not only can you submit an application but also gather all the relevant information. Once you submit the application, we get back to you with all the relevant deals that match the stated criteria. Then you can just pick out just the deal you want and the process goes forward. After acceptance of your application, you are required to submit relevant documents. Lastly, after the submission, it takes a day or two before you can have the loan. No frustrating paper, no unnecessary protocols.
What can I do with the loan?
Once your loan is approved and you have your funds, we do not concern ourselves with how they are spent. Whether you want to buy a car or a house, or just give it away in charity, you have a free-hand that you deserve. Therefore, regardless of what your need for funds is, our secured loans are exactly what you need.
How much will I be paying?
Depending on which loan you want and the credit ratings you have, your APR will be decided. There is no flat rate, as there are many different lenders, and amongst these lenders, many different types of loans. Therefore, keep in mind your financial capacity before opting for any one option.
What if I miss a few payments?
At North London Loans, we understand your problems and realize that many real life, unforeseen circumstances may arise, which may hinder your way to meeting your interest rate payments. Therefore, what we expect from you at all times is honesty. If something has happened, which would prevent you from meeting your monthly obligations, what you are supposed to do is let us know so that a mutually beneficial decision is made.
You do not have to worry about seizure of your collateral, as it is only our last resort option.
What if I want to pay back the loan earlier?
Just like you enjoy the freedom of getting a loan just when you want, you can return it the same way. That's right, if for some reason you feel the need to pay back the loan earlier than the payback date, you can do so without any additional charge.
I am a little undecided, what do I do?
Through our website, we have tried to discuss as many issues as possible. However, it is understandable to still have unanswered questions. Therefore, if you are undecided and need to know more, all you have to do is contact us. Whether you wish to write us or give preference to giving us a call, you choose according to your liking and have your questions answered and concerns eased. You can enquire about our loans as much as you want, you are not bound my any contract until the moment you sign the official documents.