Secured Loans have indeed help us by fetching funds just at the time when we need. The best part about secured loans is that lenders really like lending money in the form of secured loans since the borrower is supposed to put a specific collateral at stake, so there is a better possibility of him being more loyal to the lender, in terms of repayment. Hence, it is a much better option than the unsecured loans.
In case of unsecured loans, the lenders tend to care a lot about your credit history, but credit history doesn't matter much here. Before issuing the loan amount, the worth of your collateral is calculated which becomes the equity and the amount given is on the basis of that equity. If the borrower is not able to repay the required amount over a given period of time, then the lender has every right to confiscate the collateral to get the amount back.
As far as the consumer's point of view is concerned, applying for a secured loan isn't a bad deal either. The rate of interest in this case is also lesser in comparison to the unsecured loan. Also, the loan amount can get bigger in the case of secured loan. Further, the repayment in the form of easy installments can be done over a much longer period of time. Also, it gives you a chance to mobilize your fixed assets and obtain money in lieu of it, at the time when you need it.
In this way, the secured loans are not only a better option for the lenders but also for the borrowers as well!
Source: Ezine Articles
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a Secured Loan UK is very difficult to get but there might be some of the planned Financer who can help.
Bridging Loan Lenders plays the most common role of finance Bridging.
When I was applying for a loan to purchase my building as a small business owner in a tough situation, conventional banks said they could not help me. Mr Pedro, a loan officer, sat down with me, heard my situation and decided that I was worth taking a chance on. Here we are 3 years later and I have just renewed my loan for another 7 years. I couldn’t have purchased my building without the help of Mr Pedro and will be forever indebted to them for giving me a chance when no one else would."
I will recommend you to contact a loan officer Mr Pedro on the information below if you need any financial assistance. Email: pedroloanss@gmail.com
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