An secured loan is ...
Firstly, you are often able to borrow more funds as a secured loan than you would with an unsecured loan. At time this can be over a longer period.

This type of loan is secured by the lender against an asset that you own. Should you fail to pay back the loan, the lender can to take possession of that asset in order to get its money back. Usually the asset is a property.


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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
The FSA do not regulate Secured Loans
 
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