Secured loans often have lower advertised rates because the lender has an asset, usually your home, as security, but they may cost more overall due to longer terms and fees. Unsecured loans do not require an asset, although the rate offered depends on factors such as your credit history, income and loan amount. With secured borrowing, your home could be at risk if you cannot keep up repayments, whereas unsecured borrowing does not normally carry that specific risk. Compare the APR, total amount repayable, fees and term, and check offers from FCA-authorised providers before deciding.