Raising capital using secured loans is a viable solution. If you are locked into a fixed rate deal mortgage and have high early redemption charges, then a secured loan may be the answer. Although there are more reasons a secured loan may suite you better than a remortgage.

Secured loans are one of many personal financial solutions that have become popular in the market place today. The secured loan market hit it's peak in 2003, at which point gross new lending hit £7bn. The secured loan market has fallen in recent years, but with expectations set high for 2007 the secured loan market looks like it's here to stay. Rather than being a 'new product' that fizzled out after a few years. "Secured loans have a positive future!", says Adam Henry of Money Partners.

There are more reasons why a secured loan may be a more efficient way of raising capital. With recent base rate rises, it could mean that a new mortgage deal will carry a higher rate of interest, compared to a secured loan. In this scenario, a secured loan may present the best solution. Another reason could be if you have a recent bad credit problem. A remortgage might provide higher fees compared to a secured loan, allowing you to raise capital and not become a victim of high fees.

With specific areas of personal finance suited to the secured loan market the secured loan looks set to stay. Secured loans can be completed faster than a mortgage and most scenarios where a secured loan is required need a speedy answer, like debt problems.

Alex Hammond, of Kensington Mortgages says

Secured loans should be considered as a possible product solution if a mortgage adviser is to offer best advice raising finance for a client

Adam Henry, of Money Partners says

While not suitable in every case, secured loans offer a real alternative to other forms of borrowing. By including them in their portfolios, brokers are offering their clients a full product choice

Indications show that secured loans are to grow in popularity, although maybe not as rapidly as in 2003. WebSearch4Mortgages.com offer secured loans ranging from £3,000 to £100,000 and have the ability to search 100 different secured loans. If you are in a scenario where a remortgage does not look feasible, then a secured loan might be the answer. If you haven't thought of a secured loan as an alternative way of raising captial, maybe you should? Whether you have bad credit and wish to consolidate your debt, or need to raise capital for any other legal reason, a secured loan provided by websearch4mortgages could be your answer.