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An unsecured mortgage is a type of mortgage that's not backed by any collateral, similar to a house or automobile. This means lenders take on a larger threat, which often ends in higher rates of interest in comparability with secured loans. When you apply for an unsecured mortgage, your credit rating and income will sometimes be the primary components influencing the approval process. It is important to ensure you are in good monetary standing earlier than making use of, as defaults on these loans can severely impression your credit score hist

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