The basic principles behind loans with security (ie secured loans) are relatively straightforward:
providers will always seek to quantify and where possible, reduce their risks in terms of being unable to recover their money in due course;
if the borrowing is secured against a capital asset (such as your home or car), the provider may see this as reducing their risk – this may encourage them to look more favourably on the application;
as the potential borrower, you will be hoping to obtain lower interest rates and possibly larger loan amounts, by virtue of the fact you are offering collateral for the loan, thereby reducing the provider’s risk.
2 Nursery Court, Unit 2C. Kibworth Business Park. Harborough Road.
Phone: 0116 464 5534
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