Car Loan Secured or UnsecuredLoan secured or unsecured
You have flexibility in repayment - you can select the amount and the timing in which you want to pay back your loan. If you are over the age of 18, you can request a TFS Guarantee Loan, regardless of whether you are a house owner or not, but we ask that your guarantor own a home in the UK.
Our guarantee loan range is between 1,000 and 15,000 which you can pay back over a period of 12 to 60 months. An secured loan - generally given for car credits and mortgage purposes, for example, is often termed a house owner's loan because the liability is associated with the borrower's ownership.
What you can lend, the conditions for repaying and the interest on a secured loan depend on your individual situation and the amount of "free equity" you have in your real estate (this is the amount between the amount you owed on your mortgages and the value of your real estate).
In general, you can lend more with a secured loan, but if you fall behind with your payment, you run the risk to lose your possession. Request a TFS Guarantee Loan using the form below:
Where is the distinction between a secured and an unsecured loan?
A unsecured or face-to-face loan is a relatively small amount of credit, usually between £1000 and £25000. Usually a loan, whether face to face or unsecured, is granted at a guaranteed interest period over a specified period of time, so it can be readily budgetised as the redemption amount does not vary from month to month. As a rule, a secured loan is taken out for large monetary outlays.
A loan is secured against the borrower's ownership, such as his home or car.