A bad credit personal loan is usually secured on your property due to increased risk taken by loan lender. You have a higher chance of being accepted for a secured personal loan than an unsecured personal loan. This is because property you put forward for collateral reduces risk loan provider is making, which in turn enables them to loan more money, over longer periods of time and at lower interest rates.

It is important to remember that if you have problems repaying your bad credit personal loan at any time your home could be at risk. By carefully planning your repayments and financial budgeting you are much less likely to run into debt.

With a bad credit personal loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases. Bad credit personal loans secured on property can be repaid over a period of between 5 years and 25 years .

A bad credit personal loan can be used for any purpose. Some of most popular uses are, home improvements, luxury holiday, dream car or boat, debt consolidation and wedding expenses.

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