security – WETONG Blog

What is the Value of Orlando Adt Security Systems

Daniel Alicea asked:

The Orlando ADT security systems are manufactured and sold by the ADT Security Services company which is part of the Tyco International, Inc. system. Sometimes, the ADT Security Services company is known simply by its acronym of ADT, or as ADT Fire and Security. The company ADT Security Services sells its electronic fire alarm and security systems throughout the world.

Among the host of Orlando ADT security systems products that it offers to the public are burglar alarm systems, video surveillance and access control systems. At present, ADT Security Services has more than 20 million clients throughout the world. It is also the biggest security services company in the whole US, due to its acquisition of various other security services companies lately.

Sadly, not all the Orlando ADT security systems said to be made by ADT being sold in the market are authentic ones. To make sure you have an authentic Orlando ADT security systems product from the real ADT Security Services company, check if the system was manufactured by DSC (another part of mother company Tyco International); by ITI or GE (which both happen to be GE Security products); or by Ademco (which comes from Honeywell International.)

Basically, ADT Security Services relies on its main service to function and serve clients. This main service involves installation of security systems and then progresses to monitoring of such systems after these have been installed at the home or business of the client. Should an incident occur at the site under monitoring, the alarm system will be set off and electronic signals will be sent to the ADT Security Services’ CMCs (or Customer Monitoring Centers.) At the CMC, one of the live monitoring specialists will look through the data being reported to that CMC and analyze if there is really an actual intruder or simply a false alarm. Possible incidents that will come to the attention of a live monitoring specialist are: someone pressing on a holdup/duress button; evidence of carbon monoxide within the secured area; a fire; or actual intrusion by a burglar or other types of intruders.

If the live monitoring specialist feels there is enough evidence that an actual alarming incident is taking place, he may try to reach the location where the incident is occurring via phone. If no one answers, the specialist will then call the appropriate authorities like the fire department, the police, and perhaps other pertinent emergency services organizations that should be notified.

ADT Security Services is manned by more than 20,000 employees at present throughout the world. The company also maintains branches distributed over 20 countries. In Asia alone, the company maintains branches in at least seven countries. The company has New Zealand and Australian branches; one South African branch; and operates in at least 19 European countries as well. As for the Americas, the company operates in Latin America, Canada and the United States as well.

So should I buy a Orlando ADT security systems produc from ADT Security Services? That would depend on what your security needs are, specifically. Ask for a quote and see if it fits your particular circumstances. You are the best judge in the final analysis.

It Security, a Step by Step Guide

Kim Hutson asked:

IT security breaks down into two categories, infrastructure security and network security.

Infrastructure security can be identity management, access management, information and event management, for the events side of things, application and data management

Network security is the means by which you protect yourself when you’re in an online or network environment, you need to ensure only the right people have access to your systems.

Security is needed so you can be confident you can transact properly without interruption, it also helps prove any compliance you have to adhere to and proves the capability to a wider business audience, as well as providing evidence to any auditors who monitor your company.

Even if your business is small, you still need security so your customers feel comfortable dealing with you, as well as being able to show any auditors you’re running your business properly and you have the right degree of controls. You also open yourself up to a wider opportunity – if your customers realise they can deal with you safely, your business will increase

Everyone can benefit from good IT security. For example a HR department spends a lot of time setting up and giving access to new employees, IT security can help make that process faster. A finance department can make sure that only those who should have access to certain systems have that access, it’s not just for the boys down in IT!

Information and event access, a way by which you control the security policy on a daily, minute or second by second basis, involves things like dashboards which give you a view as to what is happening, it allows remediation so you can inform relative parties if something is happening which shouldn’t be happening and it allows forensics if you ever had to provide evidence to an authority.

You may need to provide auditors with evidence of what control you have over your IT systems. You need to be able to tell them who has access to which specific systems or the other way round, you may need to tell them what systems a specific employee has access to, also as you traverse the infrastructure you need to be able to monitor what is going on. A good security system should be able to provide all this information by taking all the logs which are collected then collating them, analysing them and ensuring specific reports are produced, these reports should be able to be produced for specific regulatory requirements.

Implementing basic business security should allow employees to easily spot if someone is doing or accessing something they shouldn’t be. If someone wants to reset their own password some basic security questions would be asked to make sure they have the clearance to do this. This would mean that if suspicious activity is reported, it would be easy to follow up and prove or disprove, then help determine a relevant course of action (like have their file suspended pending a management review).

You need a security system which is going to be intuitive as part of the implementation process. When a user gets access to a system the security software will recognise this and learn all the various passwords, this will ensure the user only needs the one password to gain access to the system and that will allow them access, through the security, to a multitude of systems.

Two factor authentications should be possible when setting up any decent security policy. It should be able to recognise and cope with a finger print detector on a laptop or an entryway and an area ID card or an iris detector.

Security software can also help if you’ve forgotten the password to your desktop. Instead of phoning the help desk, you would just be asked a set of predetermined security questions and would then be allowed you to gain access to your desktop again.

You have to constantly be aware of the differences between your security policy and reality because your organisation will be constantly changing; you need to ensure the practical reality is reflecting your intention for your security policy. Your software needs to be able to look at all the millions of events which are happening and then interprets that, then compare it to your intended security policy.

If you have a number of regulatory bodies which you need to report to, you need to make sure the policy these bodies require is enshrined in your security policy, you then need to make sure you’re reporting properly which is something good security software should be able to help produce.

Any report produced needs to be as clear as possible and easy to understand to someone who doesn’t have an intricate knowledge of IT. A comprehensive security system would be able to produce a clear and concise report without needing someone to spend hours going through all the data and ‘interpreting’ it into English.

Secured Loans A Step In The Right Direction

Aldrich Chappel asked:

In the modern times security is becoming less and less. As with the uncertainties it is pretty difficult to be secure or make someone else secure. Security in any walk of life is difficult to achieve. That is why in today’s world secured loans are a priced possession. Se4cured loans can help us in getting there where we want to be. So the secured loans bridge an important gap between the borrowers and the creditors.

Secured loan can cover for every financial requirement of a person; the requirements may differ from person to person but the prime reasons for which the secured loans are taken are:

· For home improvement

· For debt consolidation

· For weddings

· For educational purposes

· For business purposes

A person can borrow money for any of these purposes.

Secured loans as the name suggests are offered to people who are ready and willing to provide a security to the lenders or the lending organizations. The asset that you provide to the lenders can be your car, your current active bank account or your home.

Secured loans are known by many different names as well like mortgage loans or when you provide your home as a security to the lenders it is known by the name of home equity or HELOC (home equity line of credit).

Secured loans can be taken for any purpose they will always serve the purpose. In addition to that secured loans are quite advantageous as well in comparison to the other loans that are currently available in the UK market.

The advantages that a person can get by going for secured loans instead of any other loans are:

· By going for secured loans the borrowers can get a big amount of loan easier than what we can get with the unsecured loan forms. Since we have provided the lender with a security risk factors of both the parties are covered and we can get a loan amount of up to £250000 which can serve all our purposes.

· The interest rates at which the secured loans are provided are lower than the other loans as well about (2%-4% lower). This results in lower monthly installments and less money to pay back. So we can utilize our borrowings properly.

· The borrowers have an option of choosing the repayment period which can go for as long as up to a period of 25 years. This facilitates easy repayments and less worries for the borrowers.

· The presence of security makes these loans get approved faster.

These benefits make secured loans one of the best options that any one can go for making borrowings.

But these loans are not ideal for people who cannot provide any security to the borrowers. People like tenants, people who are working for others employed etc. so they have to look at the other options for their borrowings. Also for people who take these loans you risk your collateral if you are not able to pay your required dues.

Borrower’s now days understand the needs of the people that’s why they are now willing to provide loans to people with bad credit history as well. People who have filled for bankruptcy or defaults and therefore have a poor credit score. Secured loans are an ideal loan offering for them as not only they can achieve what they want to achieve, also they can also bolster their credit score by paying installments when they become due.

Security is the key in the present world, everybody wants it but in this day and age it is difficult to get it. Secured loans are one such thing that can provide security both to the borrower as well as the creditor. So all those people who want loans should go for secured loans as they will find it difficult to get a better option than secured loans.

24 Hours Security Need for Home and Offices

OSHIK AMIGA asked:

With the passage of time, there are many things that have changed. Change in attitude and thought there is also increase of crimes. Before the dwelling place of men was secured. After hectic scheduled home was the place where he can rest. Security of home and even the place of work nothing is secured. There is danger and threat to life always. Men are not secured in this technological world. More the world is progressing more there is progress in crime and criminal actions.

At this point of time it has became essential that there should be 24 hours security. Whether it is office or home, security is must. Everyday more than thousands criminal actions are taken place all around the world. So, many innocent people are dying without any reason. Home security is something that provides man comfort secured and imparts mental satisfaction. All over the world governments too are trying a lot and spending money for security. Hence security of nation is also essential. If nation is not secured then 9/11 will become common for all nations.

With passage of time to protect home, office and to assure peaceful atmosphere various security agencies have emerged. These agencies provide security services to offices as well as home. If man is not satisfied at the place of working how he can impart good results in office. No one can work in an atmosphere where heart beats thinking that anything can happen anytime. For that security guards are appointed. Who checks the visitors as well as office employee? Before any security it is always essential to have verification of the company. The security which is registered having proper documents should be given charge of the security. Then connection for the central monitoring system is also very important that notifies the police on time.

As all things are becoming tech savvy security is also becoming more of advanced technological? New techniques are in use such as alarms and video cameras. Even there are fixture alarm lights that should be installed wherever it is required. Many companies in the world have made high quality and unique home and office security products for safety. Then there are spy cameras for security. Fire alarms gadgets and other alarms for proper information should be installed at the place, where it is easy to reach during emergency. There should always be emergency exist.

Though there are many devices that came up for security but all are worth only after people are cautious about security. People should always be alert and should possessed good sense of responsibility. If they find any insecurity they should at once inform police. Quick wit and little intelligence can provide security at home and office. Home security is an essential element for having peaceful and sweet home and office security.

Absolute Security & Lock is premier provider of Security Equipment in Florida. We are providing 24 hour emergency locksmith services since 1997 to our numerous clients. For more information, visit: http://www.greenlocksmith.com

Secured Credit Cards

The CreditLawGroup asked:

What is a secured credit card and how does it differ from regular credit cards and prepaid cards?

A secured credit card is an option for a person to build or rebuild his or her credit. Furthermore, a secured credit card provides the opportunity for consumers to gain access to certain services such as renting a car or hotel room. Secured credit cards differ from traditional credit cards in that a deposit is required to serve as the consumer’s credit line whereas with traditional credit cards, the consumer’s credit line is collateral free and based partly upon their credit and payment history. Secured credit cards differ from prepaid credit cards as well. With prepaid cards, there is no required credit history check and the consumer’s credit line is limited to what the consumer has previously paid, or loaded, on the credit card. On the other hand, a secured credit card requires its user to open a savings account which will serve as his or her credit line. The consumer will then continue utilizing the secured credit card as a traditional credit card; in the event the secured credit card user defaults on his or her credit card payment, the user’s savings account will be used as collateral.

What are the benefits of a secured credit card?

– Access to a credit card = Obtaining a secured credit card may benefit some people who have a tarnished credit history and therefore, have been denied by traditional credit card providers such as Visa®, MasterCard®, and American Express®. By gaining access to a secured credit card, a consumer has a whole variety of purchasing opportunities available to him or her, such as making online purchases, reservations, and features such as automatic bill pay.

– Improve your credit history= Once a secured credit card has been procured, a consumer now has the opportunity to make consistent, on-time payments. Just as important as making timely, in full payments, it is imperative to confirm with the secured credit card provider, prior to opening the secured credit card, that it reports to the 3 major credit bureaus (Equifax, Experian, and TransUnion) and that it does not mark the reports as a secured credit card. Having the secured credit card provider report positive payments to the bureaus without flagging the reports as a secured credit card is the main way that secured credit cards can improve your credit history and probably improve your credit score.

– Save and or earn money= A secured credit card requires its users to open a savings account that serves as collateral in the event the user defaults on his or her payments. If the user makes timely and consistent payments on his or her secured credit card, this savings account will not and cannot be touched. This is beneficial to the user because for the time that their secured credit card account is open and in good standing they will be saving the money. Furthermore, more than likely the money in that savings account will be earning interest, a net gain.

What are the disadvantages of a secured credit card?

– Upfront costs= In order to obtain a secured credit card, one must open a savings account to serve as collateral in case the user defaults on his or her payments. Therefore, funds are required to be available prior to procuring a secured credit card. The amount of money that is required depends on the bank or credit union with which the savings account is opened and the amount of money the secured credit card provider requires to be in the savings account. Additionally, some secured credit card providers have application fees.

– Hidden fees= While secured credit cards offer many benefits, there are fees associated with the usage of secured credit cards such as annual fees. Moreover, secured credit cards almost always have much higher interest rates than traditional credit cards, and thus, it is suggested to utilize them only for as long as needed or until one’s credit has improved. Additionally, some secured credit card providers hold on to the funds in the user’s savings account for a designated period of time after the secured credit card has been cancelled to safeguard themselves against any possible lingering charges. Therefore, it is extremely important to shop around numerous providers for a secured credit card.

– Hinder your credit history= Although secured credit cards may be beneficial to some people, if a user defaults on payments, especially past the amount being held as collateral in his or her savings account, it can tarnish their credit history and consequently lower his or her credit score.

In summary, secured credit cards may be very beneficial to its users by opening doors to new purchasing opportunities, improving credit histories, and saving and/or earning money if used appropriately. However, if a user cannot meet the payments of what they charge on the secured credit card, he or she may be worse off than in the beginning. Finally, if a consumer has decided to use a secured credit card it is imperative to shop around for the best deal, including but not limited to: non-flagged reporting to the 3 major credit bureaus, lower interest rates, lower annual fees, and inexpensive or no application fees.

If your serious about improving your credit score Contact CreditlawGroup at (800) 508-0041 our competent legal representation can help protect your rights and remove inaccurate, outdated, unverifiable, incorrect and other erroneous items from your credit report.

Security Applications Of Videoconferencing

Jason Cox asked:

Videoconferencing has opened up the world to our desktops. Unfortunately, it has also exposed our desktops and networks to things other than the intended web meeting. Videoconferencing at its best enables improved communication and faster project turn-around. At its worst, it Turns a workplace into a video surveillance system.

Security applications of videoconferencing have become more necessary than ever.

It is important to understand videoconferencing security. In order to secure a videoconference, the key areas of data storage, data radiation, and data encryption must be considered.

The information shared during a videoconference usually contains some sensitive or classified information. Those attending the conference can store data for future access, presenting a certain security risk. PC-based videoconferencing systems that run on PC operating systems use standard hardware.

Since these systems include internal hard drives and plug-and-play connectivity, additional steps must be taken to secure these systems. Specifically, the systems must be equipped with a removable hard drive. In addition, two different hard drives must be used; one for secure calls and one for other calls. The hard drive used for secure calls should be kept in an approved safe location. Because of the cost and inconvenience of securing PC-based videoconferencing systems, they are not very well suited for security sensitive use.

Appliance videoconferencing systems are not based on a PC platform and typically do not utilize standard PC-based hardware or software. They are usually custom designed and manufactured to provide only specific functions. Storage capabilities are usually limited to storing address info, usage data, and configuration settings. Appliance based videoconferencing systems are best suited for secure videoconferencing.

Any conferencing equipment can electrically radiate confidential information. Data shared during a videoconference is susceptible to monitoring by unauthorized personnel. Studies have shown that signals from a video monitor can be picked up as far as a half mile away. The U.S. government has recently issued the National Strategy to Secure Cyberspace, which outlines security recommendations for corporations.

Other vulnerabilities have been discovered in videoconferencing products. One glitch allows unauthorized individuals to gather information about the device, retrieve files, crash the device, or monitor videoconferences. Product lines, can be used to secure your system by denying transmission requests from unauthorized users.

Another major security issue with many videoconferencing systems is that the password protecting the remote management features is passed from the remote management console across the Internet to the videoconference system without the use of a secure protocol.

Any potential hacker monitoring the connection is able to retrieve the password to gain access to remote management controls. With many of the newer videoconference systems able to stream video over the Internet, the attacker can then forward unencrypted videoconferences to any number of anonymous destinations across the Internet. Experts recommend protecting videoconferencing systems with a gateway product that can provide packet filtering, encryption and certificate-based authentication.

It is important to remember that Internet data, including that used for videoconferences, may go through dozens of routers. By adhering to the following protocols, you can keep your system safe and secure.

It is important to keep informed of security exploits and download security patches from the manufacturers of videoconferencing equipment as they become available.

Videoconferencing users need to supplement basic password protection with a stronger level of security. Some online meeting systems identify users by a username and password. Guessing passwords can be very easy to do, sometimes. Make sure the password system is secure, and know who has access to passwords.

When data transfers are taking place, it is important to secure that transmission. Most online transactions are now using Secure Socket Layer (SSL), a protocol designed for secure online communication. Online meeting service providers generally use SSL. Look for the padlock icon on the toolbar at the bottom of the web browser to ensure protection.

Consider scrambling or encryption of data to provide another layer of security. Modern encryption methods are difficult to break. By using such strong methods to scramble files before they are stored protects data even before it arrives to another server. Any business or organization should have a core policy for security issues. Closely examine and periodically evaluate security policies. When selecting an online meeting business, examine the companys privacy statement.

Guaranteed Secured Loan Online – Low Cost Financial Support

Kirthy Rai asked:

Fulfillment of your personal wishes or even meeting urgent needs – money has always been an indispensable part of all our lives. Today fast secured loans are available with the convenient online option. Presence of collateral is the main criterion for secured loans. You are required to offer your home or any other asset (including automobile, jewelry etc) as security for the secured loan amount.

So Why Are Secured Loans UK So Popular?

Lowest Interest Rates: Since secured loans are a less risky proposition for lenders as the secured loan is secured on your assets – normally on your house, they will provide you with the lowest interest rates. The security for secured loans in UK will be your property, regardless of whether it is mortgaged or owned outright. A quick look at the online secured loans options will reveal the competition which prevails among online lenders. Rates as low as 5.7% APR are advertised for secured loans.

Flexible repayment periods: You can choose between 3 to 25 years to pay back your secured loan amount. Since the loan is secured on your home the lender will be comfortable in helping you with Prefential repayment terms and conditions so you aren’t burdened by availing the loan.

Loan for any purpose: Secured loans in UK can be used for any purpose. We all know that loans are a vital requirement for most of us – you might be a student seeking to learn, an auto fan who wants to drive the latest swanky car, a newly wed couple looking for a new home, an entrepreneur who wants help to set up your small business or even a debtor struggling with multiple payments. Secured loans for any purpose will help irrespective of your needs.

Override your bad credit with bad credit secured loans: Your bad credit need not pose a further threat to your financial problems. Since you’re securing the loan on your home, lenders will be more considerate even if you have a bad credit history.

Online secured loans in UK: They are simple to apply and you can deal with all financial adversity by applying online for a competitive secured loan quote in UK. You can compare various secured loan options online and apply for a deal which you feel suits your needs the best. You could also avail expert help online and get yourself the best secured loan deal online.

Optional payment protection on secured loans: You can protect your loan repayments against unforeseen circumstances such as unemployment, accident and illness which would force you out of your job with an optional payment protection plan. Most leading lenders provide this option for borrowers in UK.

The advantages of secured loan in UK have been clearly outlined in this article. However it would be good to keep in mind the inherent risk of choosing secured loans in UK. You are putting your home at risk by securing the loan amount against your home. Incase you fail to keep up to the loan repayments your lender will take possession of your home.

Secured Loans – Save Money With Low Interest Rates

M Imran asked:

Borrowed money may be used to fund education, debt consolation, a holiday or home improvements etc. When a consumer decides to take out a personal loan, they will need to weigh up the benefits of a secured loan versus an unsecured loan. In 2003 the amount of consumers opting for a secured loan peaked, with new lending in the region of �7 billion. More recently the secured loan market has dipped. However, presently there is an upward trend in the expectations of the popularity of secured loans. With the many benefits offered by a secured loan it is easy to see why it is such a popular choice for consumers who have an asset of value to place against the loan. These benefits include:

Repayments are subject to a low interest rate, thus the overall cost of the loan is kept to a minimum; and repayments are easily affordable.

Repayment terms range from 3 to 25 years.

The sum borrowed can range from �3,000 up to �75,000 depending on the value of the secured asset and the repayment capability of the borrower.

Easy accessibility.

An unsecured loan is also a viable option, however typically interest rates will be higher; repayment terms will be shorter; and the maximum sum borrowed will be lower. This is because with a secured loan an asset must be offered by the borrower to guarantee repayment of the loan. Any asset of value may be used as collateral; often this will be a borrower’s home, vehicle, stocks or bonds etc. Based on this asset repayment/recovery of the loan is guaranteed. For this reason, the loan provider has limited risk in approving a secured loan and thus is able to offer more favourable features.

A secured loan is often considered an alternative option when a consumer re-mortgages their home. The increases/volatility in the base rate (interest rate set by the Bank of England for lending to other banks) in recent months has had a knock-on effect on the secured loans market. At present the re-mortgage of a home may incur higher interest rates on the borrowing, than with a secured loan. Thus, a secured loan becomes an attractive option. Furthermore, a secured loan is more easily accessed than a re-mortgage plan and can be approved within 15 days of application.

A secured loan is also a wise choice for a consumer with a bad credit history. A ‘bad credit secured loan’ can be approved providing a bad credit borrower offers an asset to secure the loan. They to, will reap the many benefits offered by a secured loan, including a low interest rate. Conversely, a re-mortgage plan or an unsecured loan will typically incur far higher costs and/or interest rates for a bad credit borrower.

Furthermore, with a secured loan if a borrower can not meet an instalment one month, they can make it up the next month. The lender will not panic as they have the security of an asset, they are confident enough to offer more lenience. To apply for a secured loan a consumer need only input their details into some of the may secured loan websites, this will generate numerous quotes. These competitive quotes can be compared and the best deal can be applied for.

The major concern with a secured loan only arises in the unlikely event that the borrower repeatedly fails to meet repayments of the loan. Typically several months will pass before this becomes an issue. However, once established as a problem the lender will have the power to seize and sell on the secured asset. Thus, a consumer who seeks a secured loan must be certain that they will be able to repay the sum borrowed plus interest.

To conclude, borrowing can be a costly affair. With a secured loan, thanks to low interest rates, these costs are kept to a minimum, even for bad credit consumers. Thus, a secured loan is a viable option for any borrower who has an asset of value to place as collateral.

Cheap Secured Loans : a Collateral Can Fetch you Money When Needed

Steve c clark asked:

If you want to avail a personal loan and are ready to place a property as collateral, you can easily avail a loan. Cheap secured loans are one such loan. With cheap secured loans you can avail good amount of money at very low interest rate and with flexible repayment options. It can be availed by people with adverse credit history also.

ABOUT CHEAP SECURED LOANS

Cheap secured loans are secured loans with very low interest rate. To avail cheap secured loans you need to place one of your properties as collaterals against the loan amount. This can be any of your personal properties like car, home, bank account etc. Make sure to pay all the loan installments in due time, failing to do so may result in seizure of your property. With cheap secured loans you can avail an amount up to £ 75,000. The loan amount depends upon various factors like, credit history of borrower, monthly income, value of collateral etc. If you want to avail big amount, you’ll have to place collateral of high value. The repayment duration of cheap secured loans is very flexible and ranges from 5 – 25 years. People having bad credit history due to arrears, defaults, CCJ, IVA are also eligible for cheap secured loans. Lenders ignore the bad credit status because borrowers need to place a security against the loan amount in order to avail cheap secured loans.

CHEAP SECURED LOANS FEATURES:

Cheap secured loans carry very low interest rate. It can be availed by placing a security against the loan amount. Being secured in nature cheap secured loans is approved very easily. With cheap secured loans you can avail good amount of money by placing collateral of high value. Also the repayment duration of cheap secured loans is very flexible and you can choose from 5 –25 years to pay the loan amount. Cheap secured loans can also be availed by people with bad credit history. With regular payment of loan installments people with adverse credit history can increase their credit score. Cheap secured loans can be used for nay of your personal or professional needs like buying a car, home, vacation, wedding, paying previous debts etc.

CHEAP SECURED LOANS SUGGESTIONS

Being secured in nature, cheap secured loans can be availed very easily. But make sure you pay all the loan installments on due time because your property is at stake.

Search well before applying for cheap secured loans. With good research you can avail cheap secured loans at reasonable terms and conditions. Cheap secured loans are the best option for people looking for a secured loan.

Secured Loans: Common Questions, Answered

Charles Landa asked:

Secured loans can be an efficient short or long-term funding solution for UK homeowners. If you are in need of money and have equity in your property, you are eligible to apply for a secured loan. Secured loans are sometimes called “second mortgages” as they rank after your mortgage as security to the lender. Secured loans must be registered as a Charge on your property title at the Land Registry.

Why seek a secured loan rather than an unsecured loan?

The strong growth in UK house prices over recent years has meant that many homeowners have built up substantial equity in their properties. Secured loans are simply a flexible way for homeowners to release some of this equity. Compared with an unsecured loan, a secured loan has a lower interest rate as you are putting your home up as security. The lender will be very confident that the loan will be repaid. Another advantage is that secured loans offer more flexible terms of repayment than unsecured loans. For example, the loan term can be for a longer time period enabling your monthly repayments to be kept down. Secured loan terms can be from 3 to 25 years – it can sit alongside your mortgage if you wish or you can pay it off sooner. If you’re in need of a large sum of money, a secured homeowner loan can range from £5,000 up to £1 million. Unsecured loans are normally capped at £25,000.

What can I use a secured loan for?

A secured loan can be used for any purpose. A secured debt consolidation loan can help you refinance expensive debt, such as credit cards or bank overdrafts, on to a much lower interest rate. A secured home loan can be used to finance substantial home improvements to add value to your property, such as an extension or a new kitchen.

Why choose a homeowner loan rather than a remortgage?

A mortgage is your cheapest form of borrowing and if you want to raise a significant amount of money it is therefore logical that you should first consider a remortgage. However, your current mortgage may be arranged on advantageous terms or have an onerous early redemption fee. Redeeming your mortgage may just not make financial sense. In these circumstances it may be wise to leave your mortgage alone and use the flexibility of a secured loan, especially if the interest rate is only a little higher than your mortgage rate. Finally, a secured loan can be completed in less than 20 days – somewhat faster than a remortgage – and at a lower cost. Remortgaging normally requires that you pay certain fees, such as a discharge fee, a valuation fee, a title insurance fee or an administration fee.

Can I safeguard my loan or mortgage payments against unforeseen events?

You can take out payment protection against specific events, such as unemployment, sickness or disability through Payment Protection Insurance (PPI). Remember that PPI is not always suitable for your individual circumstances and independent advice should always be sought before buying this product. Should the insured event take place, the policy will cover your payments for a fixed period of time, such as 12 months. You should also consider buying sufficient life assurance such that in the event of the death of the household’s main bread-winner, the loan or mortgage will be paid off by the insurance company.

How can I apply for a secured loan?

You have the choice of going direct to the lender or going to an intermediary, usually a finance broker. If you have shopped around and know what you want, you can apply direct to the lender via phone, internet, post or walk into their branch office. If you prefer to seek the advice of a finance broker you may benefit from their expertise in deciding what product and which lender is most suitable for you. This will be particularly true if your circumstances are unusual and you require a specialist product. It is also possible that a finance broker can find you a better deal as some products are only available through intermediaries.

How long does the secured loan application process take?

Depending on circumstances and personal needs, you may obtain a secured loan within 2-4 weeks. But, of course, each case is different. Normally, the consent of the first mortgage lender is required to register the secured loan on your property title and so the lender is unlikely to proceed before consent is obtained.

What factors may negatively influence the secured loan application?

When you apply for a loan it is normal that you will be asked to consent to a search at a Credit Reference Agency, such as Experian or Equifax. The purpose is to avoid fraud and for the lender to assess your credit worthiness. Some factors may have an adverse effect on the secured loan application, such as:

Bankruptcy or Individual Voluntary Arrangement

Low income or self-certification of income

Mortgage or rental arrears

Frequent job changes

Frequent address changes

High indebtedness

Court judgments

But even with a poor credit record, you have a good chance of obtaining a secured loan providing you have plenty of equity in your property. However, you may be asked to pay a higher interest rate if your credit score is low.

Is it important to seek independent, impartial advice?

There are literally thousands of loan and mortgage products available. As we only tend to purchase financial products infrequently, you will not know which products are available or suitable without a serious research effort. For this reason, we believe that most people should seek independent, impartial advice, especially as mortgages and secured loans normally represent a substantial commitment. This should not cost you any more as the advisor is normally paid directly by the lender.

What are the drawbacks of a secured loan?

Although there are many benefits of a secured loan, there are some drawbacks that should be mentioned. In cases where a borrower fails to repay a loan, the property could be taken into possession and sold. Borrowers can also be tempted to borrow large sums for long periods without appreciating the commitment to repay a significant amount of interest, even when interest rates are low.