What is the difference between secured and unsecured lending and why is secured lending better?
An unsecured loan is a loan which does not have any collateral in place, such as land or apartment, and is solely based on a borrower’s credit history and potential ability to repay. Secured loans have assets as collateral so that if a borrower cannot repay the loan, EstateGuru's security agent represented by a law firm Triniti will start the asset sales process. Hereby, the risk of losing the money is minimized..