Tel. +44 (0)20 7287 4414
Tel. +44 (0)20 7287 4414
The Bruges Group spearheaded the intellectual battle to win a vote to leave the European Union and, above all, against the emergence of a centralised EU state.
The Bruges Group spearheaded the intellectual battle to win a vote to leave the European Union and, above all, against the emergence of a centralised EU state.

Bruges Group Blog

Spearheading the intellectual battle against the EU. And for new thinking in international affairs.

5 Things to Look For with a Secured Loan


A secured loan can come in a number of different forms, all of which have different loan terms as well as differing APRs. Therefore, it is important that you conduct your research and compare prices at differing points as this will help you to save money in the long term. It is also important to read the fine print during this time, as a low APR does not always mean affordable. Therefore, monitoring the prices and comparing them over the space of a month or two is recommended. In this article, we will be providing you with 5 elements that you need to look out for when searching for a secured loan.

Experience and Credibility of Lender

One of the biggest contributing factors to choosing a secured loan is the credibility and experience of the lender. This is crucial as this will ensure that you are borrowing money from a lender that is Authorised by the Financial Conduct Authority. This will mean that due to regulations they have a duty of care to you as a customer. This means that APR and fees for defaulting payments are capped at an affordable price. This is the first step to ensuring that you are protected when taking out a loan and are able to pay it back.

Loan Type

The loan type is also important to look into when opting for secured loans in the UK as the borrowing amount can alter. When you have selected the loan type, it is important to get quotes from a total of 5 services. This will enable you to compare the price of the monthly repayments as well as assess the benefits of the loan. Though this will take time to conduct, this will ensure that you are able to receive the funding that you need at an affordable rate every single time. Where possible, it is also important to read the fine print as this will ensure that you are not being overcharged at any point. If you are using a reliable lender, all your questions will be answered during the application process, this will enable you to make sure you have the funds you need during times of financial difficulty.


Annual repayment rates are another crucial part of any loan that needs to be monitored beforehand. This annual repayment rates takes the interest rate as well as the additional charges from the offer and combines them to create a clearly outlined repayment rate. This is then displayed to the borrower beforehand allowing them to calculate the cost and ensure that you are able to pay back the loan in full. This is also beneficial as you are able to compare the prices over time. Since the Brexit, there has been a subtle shift in attitudes when it comes to secured loans such as mortgages and bridging loans. These loans are being taken out by businesses that are looking to continue with growth despite the uncertainty of Brexit helping to aid the growth and resurgence of this loans industry.

Lending Terms

In addition to this, it is important to consider lending terms. This is more important now more than ever as more and more people are beginning to apply for loans following Brexit. The lending term is the amount of time that the loan lasts for and will have a profound effect on the APR of the loan. This can change depending on the lender and is, therefore, something that you should consider beforehand. By taking the lending term and the APR you are then able to work out how much a loan would cost you to pay back within a fixed period.

Customer Service

Another element that should be considered when choosing a loan is the customer service that you gain. If you are struggling to make repayments and need to get hold of your lender at any time, a customer service representative is crucial. This will enable you to get in touch as quickly as possible and come to a resolution. However, during this time, it is important to look at the reviews that they have received. If they are more positive than negative, this will enable you to apply for a loan elsewhere. In addition, you may also be able to ask others for a recommendation to ensure you get the best level of customer service with the best-fixed rate. This will not only help to speed up the process, but it will help to keep you from overspending on your loan in the long term. 

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Director : Robert Oulds
Tel: 020 7287 4414
Chairman: Barry Legg
The Bruges Group
246 Linen Hall, 162-168 Regent Street
London W1B 5TB
United Kingdom
Founder President :
The Rt Hon. the Baroness Thatcher of Kesteven LG, OM, FRS 
Vice-President : The Rt Hon. the Lord Lamont of Lerwick,
Chairman: Barry Legg
Director : Robert Oulds MA, FRSA
Washington D.C. Representative : John O'Sullivan CBE
Founder Chairman : Lord Harris of High Cross
Head of Media: Jack Soames