Tag Archives: secured loans

Home Loans

Info Concerning Secured Loans.

Many know the expressions homeowner loans or secured loans and yet they are not fully conversant as to what these loans really are.

Secured loans and homeowner loans really are the same thing although naturally homeowners can also apply for unsecured loans.

Homeowner makes it clear that these loans are only available to actual homeowners and are not for those who are non homeowners

Secured loans can do all the same things as remortgages as they can be used for a vast number of reasons, including debt consolidation.

As they called secured loans it becomes more than clear that security is required and this is in fact the property of the secured loan borrower.

As long as homeowners believe that a homeowner loan is his best choice of borrowing, the first step should be to look on the inter net and find a secured loan broker who can tell you, without any obligation, the cost of the secured loan each month.

If you decide to do so, what you must type in are homeowner loans, homeowner loan, secured loans broker, secured loans, and so on.

Secured loans have low rates of interest at from about 9% and so the figure that you achieve should be of great use to you..

When you actually apply for the secured loan, the broker will provide you with a copy of your credit agreement that will provide you with the loan repayment and all the terms and conditions of the borrowings.

At least eight days later a credit agreement to sign will be sent to you by post.

Your signature must be witnessed, and the witness must not be a member of the family.

Once you are happy with the payments and have signed your agreement and returned it, you will receive your loan, funds as long as you have provided the lender with all the documentation needed to back up your secured loan application.

Learn more about consolidation loans. Stop by Champion Finance’s site where you can find out all about the best loan calculator for you.

Home Loans

Debt Consolidation By Remortgages And Secured Loan Save Money.

The weather in now looks like taking a turn for the better, and we are happy about that , as we have all been feeling let down by the experts who predicted a beautiful Summer weather wise, and in fact it was quite the contrary.

There were times when all living in conditions of heavy rain , and we were all very taken aback at how wrong the experts had been

It is not normally so wet in Summer , but this year it did and very much so.

There were cars washed away by the floods and people were almost blown off their feet by strong winds which is not exactly the norm for this time of yet.

Now we sense relief a we welcome the better days pf a promised Indian Summer and the still fairly light nights.

This is now a good time to take a look at our home and garden to prepare them for these last of the nice times, for this year anyway.

Having reached the decision that you want to greet the Autumn with your house and garden in a better condition, the next step is to decide what method to use to borrow the money.

Some sort of loan to carry out the improvements will be required , but it must be decided as to what loan is best.

For homeowners the best way to borrow is by a remortgage or secured loan which are also known as homeowner loans and both these loans need the security of the property.

When we arrange a secured loan or a remortgage for home improvements it is often possible to do so in a way that makes them free , as both remortgages and secured loans can be used as debt consolidation loans.

There is a way that makes it possible to carry out home improvements for free, as both secured loans and remortgages can be used for debt consolidation

Debt consolidation lumps all debt in credit cards, hire purchase, etc. into the one repayment every month and can save a fortune ,enabling the home improvements to be carried out at no extra financial out lay at all.

Want to find out more about debt consolidation, then visit Champion Finance’s site on how to choose the best remortgage for you.

Mortgage Finance

The Recent Changes To Remortgages And Homeowner Loans Loans

Certainly there many distinct similarities between remortgages and secured loans as well as there being some distinct differences.

The most distinctive facet that these home loans have in common, is the fact that they both rely on the equity of the borrower’s property.

Secured loans are also known as homeowner loans which makes it perfectly obvious that these loans are only available to those who own their own homes.

What equity means is what is left when the outstanding mortgage is taken away from what the property is valued at..

Up to the commencement of 2007 secured loans were granted at 25% more than the value of the property and this was called the 125% equity plan.The maximum secured loan is now available up to 85% for employed borrowers and 75% for those who are self employed..

Before the credit crunch It was possible to obtain a remortgages and mortgages of 100% and The Northern Rock gave remortgages and mortgages of up to 125%.

The maximum LTV now for remortgages is 90%, while certainly better than that for secured loans is still much less lenient than before the recession.

Before the credit crisis, self certifications of earnings were taken as income proof by remortgage and secured loan lenders but that ended

For some time no lender accepted self certs for either homeowner loans or remortgages but this has altered in favour of secured loans

Both remortgages and secured loans have a huge number of uses from going on holiday, etc. and they are both good ways of carrying out debt consolidation.

Secured loans for the self employed have however some restrictions as they must have a lot of equity at a maximum of 60% and the largest loan is 30,000. Also, the borrower must show three months bank statements to show that they do have income coming in..

These self employed loans of this kind will be handy for people who cannot get a remortgage because they do not have accounts.

Looking to find the best deal on debt consolidation loans, then visit www.championfinance.com to find the best deal on a remortgage for you.

categories: secured loans,homeowner loans,refinancing,debt consolidation,mortgage,remortgage,finance

Mortgage Finance

Add To The Quality Of Life With A Remortgage Or Secured Loan

We are now in the month of August and at this season of year we think about the closing weeks of Summer.

It is frequently sunny at this time of year, and when the sun shines it causes the interiors of our property to appear full of flaws , and these small flaws in the internal paintwork become very obvious..

Looking at the sofa in our parlour in the sunshine , and the blemishes caused by the two dogs, that you do not notice in the dark Winter days now starts to disturb you so much that you cannot take our eyes off these dirty marks..

Looking at our outside living space we can imagine the warm Autumn evenings that we can still enjoy , we think how great it would to have a a pond and a conservatory where we could sit with our nearest and dearest.

It is your fifty fifth birthday at the beginning of Autumn, your family have all left home , and you want to take a trip to the main capitals of Europe such as Paris, Rome, etc. to celebrate your birthday and your freedom without the grown up children now that it is only you and your wife alone for the first time in many years..

You have a great desire to decorate your home and carry out home improvements, as well as improving your out side living space also and going on that special holiday But you believe that it will all prove too costly, and you will be lucky if you can even manage to pay for the holiday..

You should take a seat , and work out how much it would cost to fulfill your dreams, and for homeowners with equity on their homes these dreams may well be readily realizable..

Equity is the difference between the value of your home and your mortgage balance. So if your home is valued at 270,000 and your mortgage is 140,000 the equity is 130,000.

You can then apply for a secured loan or a remortgage which are both secured on the equity of a property and both are home loans that raise funds that you can use for almost anything.

Remortgages are currently available from less than 2%, and secured loans start at about 9%, and as such they are easily affordable ways to buy almost anything

Remortgages or secured loans can be used for debt consolidation that clears all other financial outgoings and this means that it could well be possible to do everything you want at no extra cost to you each month..

Looking to find the best deal on secured loans then visit www.championfinance.com to find the best deal on a remortgage for you.

Home Loans

The Comparison Between Secured Loans And Remortgages.

There are many sort of loans and these can come in the form of unsecured and secured loans ,but for homeowners it is sensible to use their homeowner status to borrow at low interest rates by means of remortgages and secured loans.

Secured loans and remortgages are of course only available to homeowners as they both need to be secured on property, and they are great ways for homeowners to raise money which can be spent on just about anything..

Other things to be considered when thinking if remortgages or secured loans are better.

Secured loans should be the loan taken out by homeowners who are in the first few years of a tie in period with their existing mortgage provider. In the tie in period there is an early repayment penalty if the mortgage is repaid and replaced with another mortgage that is a remortgage.

This penalty can be extremely high and can be many thousands of pounds in charges as the penalty is from 2% to 5% of the outstanding mortgage balance. If you have a mortgage of say 250,000, the penalty would be from 5,000 to as much as 10,000. Therefore to remortgage within a tie in period would be crazy and a low rate secured loan would be the better option.

For example if a great bargain of a private sale of your dream car crops up or something similar meaning that you need the funds speedily the secured loan is the better option as it takes half the time of a remortgage to obtain. Remortgage can take up to six weeks, and a secured loan can be arranged in half this time..

If neither speed does not apply, a remortgage could well be preferable as the interest rates for a remortgage are normally lower. At this moment in time if the homeowner has at least a 40% deposit interest rates of under 2% are currently available.

Secured loans, although certainly more expensive than remortgages mean that remortgages are often more popular.

By now it must be apparent that there are pros and cons with both remortgages and secured loans, and personal circumstances are always relevant as to which is better.

secured loan

Mortgage Finance

Tell The Correct Facts When Applying For A Remortgage, Mortgage Or Secured Loan.

It is fairly common when some one decides to apply for a loan , including mortgages, remortgages and secured loans that it will help their case if they tell lies and exaggerate , and they truly believe that they will be approved more readily for the finance..

If some one wants fast approval, honesty is the best policy,, as any other way will cause hold ups.

When a person wants a mortgage to buy property , the first move is to complete an application form in which he must fill in salary details, what they pay out monthly on loans, credit cards, etc..

The would be mortgage borrower must also fill in everything about how much he spends each week on groceries, heating, electricity, etc.

When applying for a remortgage the very same questions are asked , as it must be remembered that a remortgage is only changing a mortgage from one lender to a new one.. This is usually taken out at the end of a mortgage deal in order to achieve a better deal with another mortgage deal. On occasions additional funds are requested that can be used for many different reasons..

Also the application form that must be completed for the other home loan of secured loans contains identical questions as that for remortgages or mortgages.

When an applicant lies about how much he earns to make the application appear better , the correct figure will be discovered as soon as the finance lender has the original wage slips .

The loan lender will also ask the applicant to show bank statements that cover the last three months, and if the applicant has told lies about his monthly bills, this again will show when the statements are carefully checked out by the underwriter.

In addition to lying about their salary, some prospective borrowers state lies concerning how much they spend on credit cards and loans monthly, and the lies will come out as soon as the bank statements, which must be provided with the application, are looked ar at by the home loan provider.

Learn more about homeowner loans Stop by Champion Finance’s site where you can find out all about the best deals on remortgages for you.

Home Loans

Why Not Make An Application Now For A Secured Loan, Remortgage Or Mortgage?.

There are many the length and breadth of the country considering a remortgage, secured loan, also known as homeowner loans, and a mortgage but they only considering it while at the same time not making any move to arrange it. .

Mortgages are the finance required for buying property, and almost every single individual needs a mortgage as individuals who can afford to buy a home out right out of their bank account are in the minority and particularly when you consider that the average cost of a property in this country is almost 170,000.

A mortgage is needed both by first time buyers wanting to get their foot on the first rung of the property ladder and also for people moving to another property , whether it is because their place of work has moved or because they have had an addition to the family.

At the moment there are fewer remortgages than there once was.

Remortgages, unlike mortgages, are only for those who already own their own property as a remortgage involves moving an existing mortgage from one mortgage provider to a new one..

Homeowners often take out a remortgage at the end of a fixed mortgage period to simply save money by obtaining a lower rate of interest and with remortgage rates at an all time low this is a good ta time as any to obtain a quotation for a good fixed rate remortgage deal.

However a remortgage can be taken out to raise extra funds for a number of different reasons just as secured loans can be. A secured loan is a second charge on a property and it is recorded at the Land Registry behind the first mortgage and this is why these homeowner loans are also sometimes referred to as second mortgages.

A remortgages or a secured loan can be used to buy a car, to carry out home improvements. etc. etc. and also make excellent debt consolidation loans.

The three home loans of mortgages, remortgages nd secured loans have fallen because for some strange reason many people think that they are no longer available which is far from true as there are plenty of funds available,.

There are plenty of secured loans , mortgages and remortgages and all interested parties should apply now and delay no longer.

Learn more about homeowner loans. Stop by Champion Finance’s site where you can find out all about the best rates of remortgages for you.

Home Loans

Get A Remortgage Quote When Your Mortgage Deal Ends.

Remortgage are home loans that many homeowners are not sure about and they do not really know what benefit there would be in a remortgage.

To commence with the basics as to what the word , mortgage. means. Mortgage are the loans necessary to buy a house, and a mortgage is some thing almost everyone needs unless they have loads of money in the bank and this applies to a first time house buyer in addition to home movers.

A home purchaser can only manage without a mortgage if he has fairly substantial amount of money at his disposal and with the cost of an average property in the UK being approximately 170,000 there are not many with that sort of funds.

Mortgages are set at their original rate for a certain time that can be from a year to on average five years although longer tie in periods are in the market.

While the tie in period is in place there is a settlement penalty to be made if the mortgage is payed back before the right time..

The settlement penalty is usually a minimum of 2% of the outstanding balance and can as high as 5%, making it unwise to change mortgage providers at this time as it would be very expensive to do so.

After this tie in period there is no penalty and it is then that homeowners then choose to obtain quotes for mortgages from new mortgage lenders to ascertain if there are lower interest rates

It is at this time that the word remortgage comes in as a remortgage is when a homeowner moves to a new mortgage provider.

Moving from one provider to another is what is called a remortgage.

A remortgage is not only the moving of mortgage lenders but also they are often the means to achieving a cheaper mortgage payment.

Learn more about remortgages. Stop by Champion Finance’s site where you can find out all about the best remortgage for you.

Home Loans

The Attractions Of Secured Loans And Remortgages

Every time that a homeowner reaches a point that he needs some extra money and a fair amount of money at that he must decide the best route to take to obtain the money whatever it is needed for whether it is to buy a motor home, carry out improvements to the property, etc.

There are two best means for homeowners to borrow no matter what he needs the money for.

Sometimes these two main means of a homeowner raising money can be used even when no additional funds are needed and this is when these rwo great finance products are being used as debt consolidation loans.

The two means of raising funds are remortgages and secured loans which are both homeowner loans secured on the equity of property.

The first thing that is so appealing about secured loans and remortgages is their low rates of interest with remortgages at from less than 2% and secured loans from about 9%

A second attractive reason for choosing a secured loan or a remortgage is due to the fact that they can be used to do or to buy almost anything from a holiday to funding home improvements or even for buying a second or a holiday home.

An additional part of their appeal is by dint of the fact that they can be paid back over as long a time as twenty five years meaning that most people can afford the repayments.

They are both available for both employed and self employed borrowers and the employed must provide three recent wage slips.

Those who are self employed now need accounts or an accountants reference when making an application for a remortgage

There is one secured loan lender now advancing self employed loans at 60% LTV on a self cert providing that the applicant has been in business for at least six months.

If a self employed person can provide at least an accountants certificate, homeowner loans at 75r% LTV maximum are available.

Want to find out more about consolidation loans, then visit Champion Finance’s site on how to choose the best debt advice for your needs.

Home Loans

Tips On Remortgages And Mortgages

Remortgages and mortgages are two types of home loans and only homeowners can make an application for these loan products.

Why this is so is due to the fact that a remortgage and mortgage both rely on the asset of a property.

What in fact a mortgages is, is the home loan needed to purchase property.

Before a person even starts to seek out a home that he likes, the very fist thing once he has decided that he wants to become a home owner he must first arrange a mortgage as it is crazy to put in an offer for a property without the mortgage being in place as he could be refused the mortgage and left in a difficult position to put it mildly if they have put in an offer to buy a property without the mortgage being in place to buy the property.

The very second an offer to purchase a property is presented in Scotland and the seller has accepted that offer, the sale has to proceed and it is impossible to withdraw the offer in Scotland although in England the would be purchaser does not legally have to proceed.

There is absolutely no difference in mortgages whether buying a first property or to homeowners who want to move home.

Another important issue when buying a property, apart from taking out a mortgage, is to make sure that money for the deposit is also in place.

Before the recession 100% mortgages were available which meant that there was no requirement for a deposit but now everything is totally different and deposits of as much as 25% and absolutely never less than 10% are needed..Only a few mortgage lenders grant 90% mortgages and or a 90% remortgage.

Remortgages means homeowners taking out a mortgage with a different mortgage provider without moving from their current property.

It is a very popular thing for homeowners to take out a remortgage for the same amount as his current mortgage and this is what is known as a like for like remortgage as it is for the exact same balance as the original mortgage.

This may sound atrange but it is in fact a sensible thing to do as mortgage interest rates can vary enormously between providers and changing mortgage products can be very cost effective and save thousands of pounds over the course of the deal.

Remortgages can also be taken out to release extra money that can be used for lots of reasons, making remortgages a low cost means of funding most purchases as remortgage rates start now at as low as 1.84%

Looking to find the best deal on remortgages, then visit www.championfinance.com to find the best rate mortgage for you.