Collateral Security

Secured Loans - £25K for 15yrs *

	Typical APR	Per Mth
	9.2%	£251.10
	9.7%	£257.95
	12.8%	£302.31
	13.6%	£313.34
	14.0%	£319.19
* Based on £25000 over 15 years secured and is not a full search of the whole market

 

 

Collateral security is extra security provided by a borrower to back up his/her intention to repay a loan.

Such security is likely to be documentation (deeds) giving right of title to property, which the lender may take over and sell to repay the loan if the borrower does not keep up the mortgage payments.

Go to Moneyextra's Mortgage Centre and Mortgage Comparison Service now.

Last Updated: May 2007 © Moneyextra.com

MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.