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Money Glossary - U

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Money terms defined on this page:
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Unsecured loan

This is also known as a personal loan. It is slightly less flexible than a secured loan, the amount you can borrow is normally smaller, and the interest rate tends to be higher. But you can take out a personal loan if you don’t own a house and, even if you do, you won’t lose your house if you fall behind in the repayments.
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