Jargon Buster - Definition of Secured Loans
Please select your letter of choice below to see the list of terms:
- Secured Loans
are loans that are backed by some of the borrower's collateral. This means that should the borrower be unable to maintain their loan repayments then the item(s) backing the loan may be repossessed. Items commonly used for collateral are houses and cars, however jewellery and other items can be used.
Please note that all definitions are intended for general guidance only. For official and current definitions you should always double check your policy wording.
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