An unsecured loan is...
A personal loan can be known as an Unsecured loan.
Unlike a secured loan this type of loans allows the borrowing if money without giving any security against the loan. This means it is more difficult for a lender of an unsecured loan to repossess your home or any other asset if you don't keep up with your loan repayments.
The maximum amount you can borrow for an Unsecured loan is normally £25,000 and the interest rate is fixed for a specific period of time (i.e. the term of the loan) allowing you to budget. No change will occur in your payments irrespective of whatever happens to the interest rates.
|
Call us on 020 8339 7900 for professional advise |
| |
|