What are the Pros and Cons of a secured loan?
Like any financial commitment, there can be some Pros and Cons which are attached to a secured loan which you must be aware of. For more detailed information please speak to our AllClear Finance advisors on 0800 048 1762. Secured Loan Pros: • Cheaper interest rates than an unsecured loan. • You can cut you existing monthly payments on your debt. • You can usually borrow more with a secured loan than an unsecured loan as the borrowing will be secured against your home. Secured Loan Cons: • If you fail to make the monthly repayments then you risk losing your home.
