A non status secured loan is available in the United Kingdom for those who are self employed or who are not able to verify their income. A secured loan generally holds collateral until you pay off the loan. Collateral is something of value which you own that the bank. In many cases, a person has much unrealized equity in their home that can be used to make home improvements, consolidate debt or even finance an education.

Years ago, those who could not verify their income or employment had little hope in obtaining a loan. Today, however, things have changed. Mortgage and home loan rates are at an all time low in the United Kingdom. As a result, many lenders are heavily competing for customers and are eager to make loans to persons who are considered non status. In addition, many people are leaving traditional jobs and forming their own jobs at home on the internet. As a result, many lenders are now offering non status secured loans to these individuals so they can borrow money at a competitive rate.