Are there any benefits of having a secured loan as opposed to an unsecured loan?
This is dependent on the terms of the loan. It is easier to obtain a secured loan particularly in cases of adverse credit as it is secured against your property. Generally, secured loans offer more flexibility in repayment terms and the most important factor is that the interest rate on secured loans is often lower than unsecured loans. But, there is a major risk involved with secured loans, that your property can be repossessed by the lender in case you fail to keep up with the repayments.
