Established all the way back in 1724, the Royal Bank of Scotland (RBS) is a true powerhouse of the financial sector. As with most mainstream lenders, RBS specialises primarily in the provision of personal loans and mortgages. Secured loans are only available where the borrower is able to offer their home (or another property) as collateral. Personal loan rates are advertised with an average APR of around 3.4%, while loans secured on properties attach extremely variable overall borrowing costs. RBS has also become a firm favourite among borrowers for consolidation loans and home improvement loans.
Here at UK Property Finance, we work with both mainstream lenders and independent service providers to find the best deals on secured loans for all purposes. If RBS has the best deal to suit your needs, we’ll find it for you. If better rates can be fined elsewhere, we’ll show you the way.
Secured Loan Alternatives
Before applying for a secured loan, we strongly advise using our online loan calculator to get a better idea of the approximate borrowing costs. In addition, it’s also worth considering the alternative options available, which may better suit your requirements.
For example, taking advantage of credit card balance transfer deals comes highly recommended. If you’re looking to consolidate debts to reduce interest charges, a strategic series of credit card balance transfers could make a real difference.
Unsecured loans are of course an alternative option to explore, though can be difficult to access. Unless you have a strong credit score and comprehensive proof of income, the major lenders won’t go near you. In addition, unsecured loans from banks like RBS are typically available in relatively small sums.
If you have any savings, it’s worth considering how using them wisely could leave you better off. Using your own savings to cover the costs of a purchase means eliminating interest rates and borrowing costs from the equation. If you’re already repaying a loan of some kind, you could use your savings to pay it off in full and save yourself the monthly/annual interest payments.
Should your intentions for the secured loan be debt consolidation, there are specialist loan options to consider. Secured consolidation loans typically attach lower overall borrowing costs, though carry the risk of being secured on your property. If in doubt, seek independent financial advice to ensure you make the best possible decision.
The Best Rates, the Lowest Fees
UK Property Finance is a whole-market broker for discerning borrowers in Britain. Unlike some, we work closely with major High Street names like RBS and independent service providers alike. This enables us to provide our clients with unbeatable deals on secured loans and financial products for all purposes.
What’s more, operating as an independent broker means we’re able to offer honest, impartial and objective advice on all aspects of borrowing. Whatever your requirements and however urgent they may be, we’re standing by to offer our full support.