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.

People off and on feel the need to borrow money, that is take out a loan, they have something specific that they want to buy or to do with the money that they receive in the loan funds.

The average person takes out a loan to buy a car every so often, normally every second year or there abouts and generally the loan for the car is arranged as hire purchase by the dealer ship involved. Most couples own a car each and their children who are old enough to drive also often are car owners these days.

Another very specific purpose for borrowing money is to carry out home improvements and most do not have enough ready cash, and those who do often prefer to keep it safe and sound in the bank in case they need it for a rainy day.These days people like a comfortable home, and as such the average person pays out a lot of money to maintain their home to the standards that they want

An attic conversion for example is very expensive, and those who can afford to pay for the work out right are few and far between

The car, the home improvements, etc. are so expensive that there are not many people with sufficient means to fund the purchase themselves

Taking out loans like this need of course advance planning

If some one is strolling down the high street one day and sees that fitted bedroom furniture is half price in a sale and it is the furniture that they have always wanted, without the required money in their pocket they would lose out on a great bargain.

A good idea for homeowners is to always have the ready money to hand by arranging a remortgage or a secured loan and putting the money in the bank to spend when a bargain of anything crops up.

In the same way if you looked at your local paper and saw a private sale of a car that was very reasonably priced and was in fct your dream car you would not be in a position financially to buy it and could therefore lose the chance of a life time.

Homeowners should arrange remortgages or secured loans and put the money raised aside for such an event

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