Secured Loan - which one??

zonecrew

can anyone recommend a secured loan where the loan company won't increase the APR if I choose not to take out the payment insurance

tango

hi ,you will just have to compare different companies and ask them. BUT you can bet even if they don't increase it because you don't take out protection, they almost certainly will do fairly quickley when you have sighned on the dotted line....... check this is the route you want to go

Bernard_Coleslaw

Have you tried your current mortgage provider?

Rafter

Because you are buying 2 products, a loan and an insurance policy they companies cannot legally insist on you taking the insurance or charging a higher rate.

You could apply with insurance and then cancel it within the 14 day 'cooling off' period and just make the loan payments.

Expect to get the hard sell though.

Worth getting a quote for payment protection online too - you can then point out 'politely' how overpriced their protection is.

The rate you will get will depend on the amount you are borrowing and your credit rating as well as the value of your property and the amount of equity you have in it.

Make sure a secured loan is your best option though before signing up. Do you really want to put your house at risk?

R.