There are a whole range of ways in which you can make a UK secured loan application today, and most UK loans companies will accept applications by either phone, post or online. From your secured lloan application and also a process called credit scoring the loan company will assess your suitability for the loan for which you have applied.

With secured loans UK the lender will need to assess whether or not you can provide the security that they require. If you are using your home as collateral then they will need to assess whether or not you have enough free equity within your property. In addition to this your credit history and any past county court judgements, bankruptcy or defaults will also come into play. The lender will employ the help of a credit reference agency in order to check up on these various statistics. The two main credit reference agencies in operation in the UK are Experian and Equifax. You can pay a visit to either of their sites for further information on credit scoring and the services the offer.

On being refused a secured loan application, UK residents have the option of requesting a copy of their individual credit report. Simply ask the loan company which credit reference agency they used and then request a copy from the agency. This will usually be available for a small fee. Remember that every lender looks for something different in a borrower so if one UK loan company refuses you a secured loan, it does not mean that another will not accept you.