In message , John Anderton
writes
>On Tue, 25 Mar 2008 08:00:21 GMT, Mike_B
>wrote:
>
>>In message <0rbgu35mbnm20jn4tcm9gbq36a4dont8uf@4ax.com>, John Anderton
>> writes
>
>>>
>>>An unsecured loan represents a greater risk to the bank and therefore
>>>attracts a higher rate because :
>>>
>>>a) It will cost more to reclaim the debt by gaining access to the
>>>customer's assets than for a secured loan
>>
>>In what way will it cost more? The few quid application costs for a
>>court judgement and charging order versus the secured loan application
>>costs for a possession order are not all that different.
>
>Yes, it will be different, i.e. more
>>
A few quid, not enough to even come close to justifying the additional
charges.
--
Mike_B |