personal loans where the lender has some rights over the customer’s assets if the loan is not repaid. An example is a second charge mortgage

 typically used to purchase electrical goods, furniture and furnishings. Payments are usually monthly, and may be interest free or follow a deferred start

 personal loans where the lender does not have any rights over the customer’s assets.

finance secured against an asset, for example a car. The asset provides collateral for the finance provider should the customer become unable to make the agreed repayments. The finance provider may recover the asset and sell it to regain some of their losses, although this is always seen as the last option. The benefit of secured finance for custom [..]

Specialist Automotive Finance. This was introduced by the FLA in 2006 to raise professional standards and improve the knowledge of motor dealership staff involved in sale of motor finance

the value a finance company recovers when they have disposed of an asset or equipment at the end of a lease period

a type of lending that is secured on a customer’s property at the same time as a main mortgage

when a lease is extended beyond the primary period by an agreement between the finance company and the customer. Rentals during a secondary period are generally at a reduced rate

The amount initially estimated by the finance company as the expected sale proceeds which do not need to be recovered by way of rentals

unsecured lending