moneysupermarket.com launches exclusive platinum secured loan

Moneysupermarket.com has launched a new exclusive secured loan with a market leading rate of 7.5 per cent APR.

Platinum Loans' offering is provided exclusively to moneysupermarket.com by Central Capital.

Unsecured loans are becoming increasingly out of reach for some borrowers, because of tighter lending criteria. Even if a customer is accepted, it may be at a high interest rate. Secured loans offer a viable alternative for these borrowers, especially those looking to consolidate other higher rate debts.

Tim Moss, head of loans at moneysupermarket.com, said: "With unsecured lenders slamming their doors in the faces of increasing numbers of consumers, a competitive secured loan product is vital for many people in the UK. For those people with a healthy income, plenty of equity in their home and, perhaps, only one or two blips on their credit record, a secured loan can be a good option, giving them the ability to borrow more at a lower rate."