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SECURED LOANS INFORMATION

Below you will see information on Secured Loans.

        

SECURED LOANS

A secured loan is effectively a loan which is 'secured' on the basis of a significant asset usually a home. What this means is that if the applicant owns his home or at least a portion of it; he can receive a large loan against this asset.

What are the benefits?

As the borrower has put up a significant asset as collateral against the loan, the lender considers the loan to be less of a risk and so is more likely to lend a large amount. As there is less risk to the lender, then it is usually quite easy top obtain the loan needed (dependant on the value of the asset of course.)

What are the risks?

Secured Loans are riskier for the borrower than an unsecured or personal loan; as if you fail to make your repayments, you run the risk of losing your property. If you want to borrow a loan of EG 1,000 to 25,000 you may want to try an unsecured loan first.

Please remember: Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your loan

        


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