Summary: You cannot take out a loan that is classified as ‘secured’ using your property without your property being at risk, as the security is the guarantee for the lender. If you wish to protect your home, you must either secure the loan against a different, non-property asset or choose an unsecured loan option entirely, although these typically offer lower borrowing limits and higher interest rates.

Summary: Secured loans require you to pledge an asset, usually your home, as collateral, meaning your property may be at risk if repayments are not made. Payday loans are unsecured but carry extremely high Annual Percentage Rates (APR), often leading borrowers into cycles of unsustainable short-term debt.

Summary: Using a secured loan to fund education or training can provide access to larger funds and potentially lower interest rates than unsecured options, making it a viable investment if the resulting qualification significantly boosts your future earning potential. However, this decision carries substantial risk, as the loan is secured against your property, meaning your home could be at risk of repossession if you fail to maintain repayments.