Forum Loan & Planification

What is the difference between Secured and Un secured loans, which is better to take small amounts?

I think Unsecured loans are normally better for smaller amounts than Secured over shorter periods

For small amount and shorter period, go for an unsecured loan.

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Post Edited (13-02-2011 12:59)

As most people who take out a secured loan already have a mortgage on their property, the original mortgage has what's called the 'first charge', ie when or if the property is sold the mortgage loan gets repaid first.
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