Secured Personal Loan. Use an Asset to Reach More Lenders.

A secured personal loan uses an asset you own, most often a vehicle, as security for the loan, with the lender's interest recorded on the PPSR.

Holding security reduces the lender's exposure, which is why this structure exists alongside the unsecured version of the same product.

The registration is discharged when the loan is paid out, and the asset is then clear again.

Offering security opens a wider part of the panel, so there are more lenders and more structures to compare.

It can also support a larger amount than an unsecured application would reach on the same profile, because the lender is not relying on income alone.

For borrowers whose credit history is still building, security is often what makes the application workable at all.

It fits where you own a suitable asset outright and are comfortable with an interest being registered against it for the life of the loan.

It's worth knowing that you can still sell the asset during the term, though the loan would need to be paid out as part of that sale.

Not every asset qualifies. Age and condition rules apply the same way they do in asset finance, and vary from lender to lender.

Describe the asset you intend to offer alongside your own details, since the two are assessed together rather than separately.

Identification, income evidence and confirmation you own the asset outright make up a standard file.

Your broker compares the panel in one enquiry and manages the security registration through to settlement.

Be sure about the asset before you offer it. An interest registered against something you plan to sell soon creates work you did not need.

Check whether the asset meets the lender's age rules before the application, rather than discovering the limit partway through.

Keep the asset insured for the term. Lenders generally expect it, and it protects the asset your loan is secured against.