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What are the advantages of a secured loan?

April 26, 2017advantages secured loan

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What are the advantages of a secured loan?

1 Answer

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10 Posted

A secured loan is usually cheaper than an unsecured loan. Because the loan is secured against your home the interest rate should be cheaper than an unsecured loan and you will be able to borrow more. Lenders are usually eager to offer you a secured loan. It can be a sensible way to borrow for certain expensive items, such as home improvements. Secured loans can be a way of cutting your existing monthly payments by stretching your debt over a longer term.