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| As the name states, an unsecured loan is a loan which does not need the borrower to use any form of security against it. These forms of loan are basically personal loans where the loan lender does not have any claim on the borrower’s property if they cannot keep up with the repayments. Instead of this, the lender is solely relying on the borrower’s ability to meet their loan repayments. People who choose these unsecured loans are generally those who are not in a positioning which they can offer any form of collateral whether it is property or other high value assets, such as a vehicle. Other people would include those who have bad credit records, mortgage arrears, county court judgments or debt problems. Because of the nature of these unsecured loans, it actually means that the lender will be taking higher risks as they have no collateral against the borrower to fall back on. Because of this, the interest rate on these loans is a lot higher than that of a secured loan. On the other hand, while someone who has a bad credit record will not necessarily mean that they cannot apply for an unsecured loan, they may well be charged higher rates of interest which will reflect the lender's extra risk. Unsecured Loans:Warning: fopen(): php_network_getaddresses: getaddrinfo failed: Name or service not known in /export/www.loan-calculator.gb.com/transform.php on line 23 Warning: fopen(http://xml.uk.overture.com/d/search/p/standard/eu/xml/?mkt=uk&adultFilter=clean&outputCharEnc=latin-1&Partner=portalcorporation_xml_uk_searchbox_portalcorporation&type=mortgages2&Keywords=Unsecured+Loans&maxCount=3&affilData=ip%3D38.107.191.111%26ua%3DCCBot%2F1.0+%28%2Bhttp%3A%2F%2Fwww.commoncrawl.org%2Fbot.html%29&serveUrl=http://www.loan-calculator.gb.com%2Funsecured-loans.php): failed to open stream: Success in /export/www.loan-calculator.gb.com/transform.php on line 23 Connection to XML feed could not be established |