This loan is secured on your property by the lender. This ensures the lender is minimising the risk of losing the money, and as a result is able to offer a secured Loan at a lower APR than an unsecured Loan. A Secured Loan is also easier to obtain even with a bad credit history, such as arrears or county court judgements. With secured loans you should be aware that your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
loan where you have to give some security to the lender (this link goes to Consumer Information - Cash Loans). The most common secured loan is a mortgage over a house. The house is security for the loan. For chattel mortgages security may be a car or household property. If payments are not made then the lender may be allowed to take the goods listed as security.
Home, car and similar loans where the creditor can foreclose or repossess if you do not pay. Hence, you can either keep your home or car and continue payments, or surrender and discharge all of that debt, even if they sell your car short.
Credit in which the lender asks for the sum lent to be secured (e.g. with stocks). The security must have at least the same value as the amount lent, thereby covering the credit. If the borrower is unable to repay the credit, the creditor may make use of the security.
A secured personal loan is one in which some of your property (home, stocks and shares, etc) is held, by the lender, as security for the amount you have borrowed. Secured loans usually offer lower interest rates than unsecured ones.
Loans secured by collateral such as houses, cars, or other assets. If the borrower defaults on this type of loan, the lender reserves the right to confiscate or sell the collateral used in acquiring the loan.
Loan that is secured by real property, such as a car loan or home loan. In the event of default the creditor can repossess or foreclose on the property they financed, greatly reducing their chance of total loss exposure.
The borrower provides "security" that the loan will be repaid according to the agreed terms and conditions in the form of collateral (e. g. house, car, etc.). In the event the borrower is unable to repay a secured loan, the lender may be able to sell the collateral to pay off all or part of the loan.
This type of loan is only available to homeowners as the loan is â€œsecuredâ€ on your home. Large amounts of money can be borrowed at a low interest rate, but if you do not make the monthly repayments, your home is at risk of repossession.
This is a Homeowner Loan that uses equity in your home for security to allow better interest rates than being an Unsecured Loan. You can use this loan for debt consolidation or home improvement. However, your home is at risk if you fail to keep up repayments secured on it.
A loan, commonly a mortgage, where your property is used as security against the money that you borrow. If you should default on your mortgage, then a lender can ultimately repossess your property to recover their money.
As security for borrowing, a lender commonly takes a charge over some or all of a company's assets. This allows the lender to take and sell the secured assets and to use the proceeds to repay the indebtedness.
A loan backed by collateral. If you fail to repay the loan, the lender may seize the collateral and sell it to repay the loan. Auto loans and home mortgages are examples of secured loans. Educational loans are generally not secured.
A secured loan is a loan in which the borrower pledges some asset (e.g. a car) as collateral for the loan. The loan is thus secured against the collateral — in the event that the borrower defaults, the lender takes possession of the asset used as collateral and may sell it to regain the amount originally lent to the borrower.