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Personal loans

Personal loans are generally unsecured, Nemo Personal Finance offers secured loans. If you are a homeowner with a mortgage, you could apply for a secured loan from Nemo.

The difference between personal loans and secured loans

  • The difference between a personal loan and a secured loan is that you have to offer your home as security when borrowing from a secured loan lender.
  • The main advantage of taking out a secured personal loan is that the lender may be able to lend you more than those offering unsecured loans, and they are also likely to be able to offer you a longer repayment period. For example Nemo could lend you up to £100,000 over a term of up to 25 years.*
  • You might find that the Typical APR on a personal secured loan is lower than that offered by unsecured loan lenders, and if you’d like to shop around to see what the various lenders can offer, you could use a price comparison site to help you. Nemo’s Typical rate is 11.4% APR variable.

The difference between a personal loan and a secured loan is that you have to offer your home as security when borrowing from a secured loan lender.

What you might use a secured loan for

  • Adding an extension, conservatory or carrying out general home improvements can be costly. If you have a big home improvement project then a secured loan might be a financing option you could consider.
  • On the other hand, you may have multiple credit spread over several credit cards, store cards and other unsecured loans. Using a secured loan to consolidate your existing credit could help lower your monthly repayments.

*Repaying borrowing over a longer term may increase overall interest charges. Secured loans from Nemo are for personal purposes only. Nemo does not provide secured loans for investment or business purposes. A Nemo loan is secured on your home and is for homeowners with a mortgage only. All loans are subject to status.


 

Loan Calculator

Use our loan calculator to work out how much you want to borrow and what your repayments could be.

Nemo Personal Finance

© 2010 Nemo Personal Finance Ltd. All rights reserved.

Authorised and regulated by the Financial Services Authority for arranging general insurance.

Registered in England and Wales No. 5188059.

Registered office:
Principality Buildings Queen Street Cardiff CF10 1UA

Calls may be monitored or recorded for training, compliance and evidential purposes.

A Nemo loan is secured on your home and is for homeowners with a mortgage only.

All loans are subject to status.

Nemo is a member of the FLA (Finance and Leasing Association) and follows its Lending Code.