Low Credit Secured Loans are for -

a) People with very good credit history and the banks literally need not worry about any default in payment.

b) People who place a high valued property as security. This can include house, car etc. Hence the banks can ensure that they are on safer side even if the borrower fails to pay back.

c) People who need smaller amounts of money. Generally banks are liberal when amounts are less than 10,000 Pounds.

Where you can get low credit secured loans in UK ?

Among UK banks and Financial companies, the list of companies given below are known for their very low interest rates. They are trusted bigger players. However there are several small local companies that are not included in the list.

a) Tesco Bank offers personal loans at interest rates lesser than 8.5 percentage.

b) Halifax customers can enjoy interest rates slightly higher than that of Tesco. The typical interest rates are in the range from 8.5 to 9.5%.

c) Blackhorse personal loans have interest rates of around 11 percentage. Also the homeowner loans for amounts ranging from 1000 to 2000 Pounds fall under low rate secured loans category.

d) Nationwide offers personal loans at interest rates of around 7% for amounts ranging from 7000 to 9000 Pounds.

e) Alliance and Leicester offer low rate secured loans at 8.5% and above.

f) Bank of Scotland joins the low rate secured loans club by providing loans at repayment rates of 11 percentage.

However one has to be careful when deciding the bank based on interest rates. In case of longer repayment periods, there is a chance that the interest rates get compounded to higher rates than they actually appear to be.