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.