Security over Personal Assets and Property

Another common way in which a lender will secure a loan is to take out security over your personal asset and property. The most common type of security in this space is a mortgage over the family home. Think very carefully before providing such security. For most Australian’s the family home is the most significant asset they will ever own. By allowing a lender to take security over your family home you are putting yourself in a risky situation. If you default on your loan you could lose your house.