Deposit as loan insurance
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davie1557
Apprentice
Joined: 15 Oct 2008
Posts: 3
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 Posted: 05/03/09 - 07:06 Post subject: |
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| I have recently been thinking about taking a loan some time ago for certain amount of money and buying a business property. I was thinking about whether deposit is a standard loan insurance, as I has been asked for me and I am not sure if such a deal is really that good. Thanks in advance. It really means a lot. |
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tuck
Apprentice
Joined: 17 Jun 2007
Posts: 3
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| Posted: 06/02/09 - 02:48 Post subject: |
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| Deposit is a standard measure of security. There are lenders who do not ask you for the deposit, but that can have its downsides also, as they ensure their security through higher interest rates, for example. Sometimes it is better to pay certain sum in advance in order to leave that money out of the further calculations and live them as simple as they can be. What I think is that you should simply take into the account this deposit you will have to give and to try and find the best deal independently of the specific sum asked of you. I hope you will have luck with your loan. |
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