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'Many providers' still offering secured loans
Secured loan deals can still be found in the UK's financial services market, according to an expert.
Robin Amlot of Moneyextra.com has claimed that while a number of providers have withdrawn from the sector, lenders are still prepared to provide the products to those with the required security.
Writing in a column for MSN Money UK, he outlined several tips for those looking to take up such products.
"A secured loan can be a powerful financial tool to help you get your finances on an even keel but you should think very carefully before putting your property on the line," he explained.
"However, if a secured loan is the right way forward, you can structure it so that you clear all the expensive credit card debt you find yourself carrying."
David Black, banking specialist at financial research company Defaqto, recently claimed that those looking to secure loans should be warned that loyalty to a provider often does not pay.