In the course of the last week several mortgage lenders have announced a reduction in their interest rates which is all to the good. However similar announcements will have to be made regarding the secured loan industry if it is too survive. The underwriting criteria for secured loans is so strict that a vast number of homeowners are no longer eligible, and the rates although good were lower in 2007. Before the credit crunch secured loans were available with interest rates starting at 5.9% APR and now the lowest interest rate is a little over 9% APR. This combined with the loan to values now available means that many homeowners who could greatly benefit from a secured loan can no longer apply. Secured loans or homeowner loans as they are also called have a maximum LTV of 70% for self employed secured loan applicants, and 80% for those who are employed. It is hoped that some secured loan lender will see fit to advance these secured loans at 90% LTV art slightly lower interest rates.