Unsecured loans – loans for the common man
by
Bernard Ethen
There are two types of loans in the UK market today: unsecured loans and secured loans.Secured loans require the borrower to furnish collateral in order to avail the loan amount. Unsecured loans have no such requisites. These loans can be availed by both the tenant and the homeowner.Unsecured loans are loosely called tenant loans, as they are widely availed by tenants. However, they are not restricted to the collateral-less group of society. In fact, homeowners who are dubious about keeping an asset as security can very well avail these loans.Unsecured loans start from
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