What types of caravan loans do we provide?
There are two types of caravan loans available, they are; secured and unsecured. Secured: A secured caravan loan will have a lower interest rate generally than any other type of loan available. In this loan the caravan you purchase is used as the “security” meaning that if you did not make the repayments you agreed to, the financier has the right to to repossess the caravan from you. Unsecured: Quite simply this is a personal loan product and unlike a secured caravan loan, there is no security offered for this loan type. Therefore it’s argued that there is more risk in providing you with this loan and more often this will be at a much higher interest rate.