Secured holiday loans are offered to people that wish to go on a holiday or trip of a lifetime without fretting about the financial implications. In order to be approved for a secured holiday loan, you will obviously be required to put up a valuable asset as security. Most homeowners can seek a secured loan using the equity in their property.
When applying for this type of finance, you will normally be offered anywhere in the region of £5,000 to £100,000, depending on the amount of security you can provide and your previous borrowing history. The repayment terms will typically range from 5 to 25 years. A secured holiday loan will have a lower rate of interest, which will reduce the monthly outflow.
This type of loan can be used for a number of different travel related purposes, such as:
- Buying plane, train, ship, or bus tickets
- Making reservations and paying hotel bills
- Paying for food
- Shopping costs
- Miscellaneous expenditures
Many people decide to use credit cards to pay for their holidays and when they are unable to pay off the balance at the end of the month they face expensive interest charges. Holiday loans can help you avoid these costs by removing the unnecessary fees and enabling you to spread the cost of your holiday at your convenience.
With so many holiday loan providers out there, it is always important to shop around to find the best deal. Securedloans.com can save you valuable time and money because we compare a number of reputable loan providers to find you the best possible quote.
For more information contact one of our loan specialists today or fill out our quick form to get a quote today.