There’s no shortage of companies in the financial sector eager to sell you loans, and finding a secured loan can mean sifting through a mountain of information. Here’s an introductory how to guide to finding your way through the maze.

Secured loans are loans where you are required to use your property as security against the loan – they’re sometimes called Homeowners loans, and by their very nature are riskier for the borrower than for the lender. The amount you can borrow varies from lender to lender and varies with your individual circumstances. The amount, the term available and the Annual Percentage rate (APR will depend of three things:

If you default on the loan you risk losing your home.

Most unsecured personal loans allow you to borrow less money and usually set a shorter repayment period – rarely more than 7 years. Secured loans allow you to borrow more and repay over a longer period – up to 25 years. They can normally be used for any purpose. Borrowers who have difficulty accessing other loans – those that are self employed, have recently change jobs, or have previous credit problems are more likely to be considered for a secured loan.

You’ll have to do some thorough research when it comes to choosing the best secured loan for your situation. You can either do all the comparisons yourself, or register with a comparison service, usually via the internet. You need to be certain that the advice given is totally independent, and that the service provider is fully accredited to carry out their task.

Secured loans are mainly available from three outlets:

1. High street banks and building societies

2. Specialist loan providers, some of which only cater for people who have had previous credit problems

3. Brokers – they do not offer loans directly, but act as intermediaries between lenders and customers. Some loan providers only work with brokers. They are not tied to specific lenders, but work with a panel of lenders, so they can match the customers needs to the right lender. If a borrower successfully takes out a secured loan through the broker, they will receive they are paid commission by the lender.

The benefits of using a broker are that they can secure the lowest interest rates for borrowers, borrowers need only give their details once, and using a loan broker will ensure a quick response to an enquiry.

The main risk involved in taking out a secured loan is that the property is used as security against the loan. You will need to be sure you can maintain regular repayments. If you default on the loan, the lender can claim your property as payment for the outstanding balance owed. Worst case scenario, you will lose your home, damage your credit rating and affect future borrowing potential.

If you have any doubts whatsoever, consult an independent financial advisor before taking out a loan.

Few people are aware that it is possible to invest over £90,000 a year in tax free savings. The personal allowances are as follows :-

Invest £15,000 in each issue of three and five year Index linked Savings Certificates which have tax free, inflation proof returns. You can also save £15,000 in each issue of two and five year fixed rate interest savings certificates, which offer fixed rates and tax free returns - giving you a total of £60,000.

The maximum an individual can invest in Premium Bonds is £30,000, which although paying no interest, offer you the chance to win large tax free cash prises of up to one million pounds each month.

Finally, you can invest up to £7,000 each financial year in an ISA, or Individual Savings Account, which is simply a savings account where the interest isn't taxed. They were launched by the Government to encourage people to save for the future.

There are two types - cash ISAs called mini ISAs and stocks and shares ISAs called Maxi ISAs.

Your £7,000 allowance can be split between either one maxi or two mini ISAs.

Maxis are used by people who want to invest their full allowance in shares, but they do allow some flexibility. You can invest up to £7,000 in stocks and shares or up to £3,000 in cash and the balance in stocks and shares. This must be done with one company.

The two types of mini ISAs are a mini stocks and shares ISA with a maximum investment of £4,000 and a mini cash ISA with a maximum investment of £3,000. Make sure you know what you are signing up for, because once you have bought a maxi ISA you cannot buy a mini ISA in the same tax year.

Stocks and shares ISAs can be bought from independent financial advisors, fund supermarkets, a financial broker or sometimes through high street banks. Cash ISAs are offered by virtually every bank, and funded management companies.

Finally remember that only the cash portion of a mini and maxi Isa is tax free - there's no tax to pay on any interest earned. Income on share dividends is taxed, so equity Isas are not completely tax free. Always think carefully and plan thoroughly before opening any ISA.

It's vital to understand as much as possible about how property auctions work when you're considering buying by this method. As a private buyer there are 5 main advantages of buying at auction over an estate agent.

As a private buyer, you must consider four key issues before making your first serious bid.

Research the market carefully to find the selection of properties in your price range, and arrange an early viewing with the auctioneer. To get information about auctions, you can order catalogues from individual auction houses, or subscribe to a specialist website or database. Remember that although many auctions are held regionally, some of the bigger auctioneers sell properties located in all areas at a major nationwide event, often in London.

Finally some tips to help you make an informed purchase.

With prices up to 40% cheaper than on the open market, property auctions are definitely the place to pick up a bargain, but you must be fully prepared to avoid the pitfalls.

What would it mean to you now if you could get your hands on thousands of pounds? You may have money sitting in a pension scheme you paid into years ago and have forgotten about. Watch the above video and see how easy it is to trace a lost pension.

The Pension Tracing Service can help you track down a lost pension even if you don’t know the contact details. With free access to a database of over 200,000 occupational and personal pension schemes, you will be able to search for a scheme you may have forgotten about.

The Pension Tracing Service may be able to provide you with current contact details for a pension scheme, you will then be able to use this information to contact the pension provider and establish any pension entitlement you may have.