Unsecured
Loan
About
Unsecured Loans
An
unsecured loan is a loan that is not backed by collateral or assets
used for security. If you fail to keep up with repayments, the loan
provider will have to undertake legal proceedings to recover the
money, your home will not be at risk or any other asset. There are
some differences in the interest rates that are charged on the secured
and unsecured loans. Secured loans generally have a lower rate of
interest since they carry less risk to the lender than the unsecured
type and the repayments can also be made over a longer period of
time.
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
