Overview
Secured homeowner loans or second charge mortgages as they are sometimes known, are personal loans that are secured by a second charge on a property with an existing mortgage. With this type of loan, your home is at risk if you do not keep up with your repayments.

Unsecured personal loans are repayable on a monthly basis at a fixed rate of interest. They are not linked to any underlying security, such as your home, hence the use of the term unsecured. The upshot of this is that lenders will have little option buy to sue you in the county courts to recover their money in the event that you fail to repay the loan.

Both types of loan are usually available for any purpose, including home improvement, debt consolidation, new and used car or motorcycle purchase, though some lenders may impose restrictions. Some products are suitable for those with a bad or impaired credit history.

Section Guide:

• Unsecured Loans: Everything you need to know about Unsecured Loans.
  
• Homeowner Loans: Everything you need to know about Homeowner Loans.
  
• Debt Consolidation: Being in debt is never easy and the road to recovery can be a long one, but hopefully you will find some good advice here.
  
• Other Forms Of Finance: Taking out a loan is not the only form of finance, so have a quick look here to find some alternatives.
  
• Choosing A Loan: There are a few kinds of loans, so check out our explanation of each here.

03 July 2008