Tag Archives: homeowner loans

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

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.

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.

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.

Some Advantages Of Secured Loans.

The majority of people are aware of secured loans and they are very aware that these loans are useful and that they can be used for many purposes, but although they know that they are good ways of borrowing, they do not have any detailed information about them, and they want to find out.

The first thing about secured loans is that they are only available to homeowners and those who rent their property cannot apply.This fact is made clear by their very name

The asset required as security is the equity that there is in a property, and there are now no secured loans at 100% or 125% loan to value. These loan to values disappeared with the recession.

Loan to values have become very much stricter and the maximum LTV for the self employed is 75% and for employed applicants it is 10% higher.

One secured loan lender is at present offering secured loans as self employed loans with no accounts needed at a tight LTV of 60%, and another requirement is that three months bank statements must be provided.

The best interest rate for secured loans is currently about 9% which being much cheaper than that of credit cards makes them useful for debt consolidation lumping all debt into the one payment and saving money every month.

The repayment period is from five years to twenty five years, allowing people able to buy things with secured loans that they could not afford by any other means.

Secured loans can be paid back early, and the penalty for early settlement is usually only one months interest.

A remortgage can also be used for the same reasons as secured loans.

A time that a secured loan would be very much a more sensible choice than a remortgage is if the homeowner is in a tie in period with his existing mortgage provider and would have a penalty imposed.

The bottom line is that both remortgages and secured loans are excellent ways to borrow and although thir are advantages and disadvantages regarding the two products at the end of the day it is very much a matter of what suits the individual borrower at that point in time.

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

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

Remortgages And Secured Loans Are Handy Ways To Borrow.

Sometimes people want to raise capital for a specific purpose such as to go on a special holiday, to buy an expensive purchase , to pay school fees, etc.

Having decided that they require additional cash, the second thought must always be the best way to go about achieving this.

The reason for the loan will determine what loan is the most appropriate

When a person wants to buy a vehicle whether it is a car, a motor bike, etc it is sometimes possible to get a bank loan but this would be a personal loan and banks these days are not keen to grant such loans especially since they have tightened up their lending criteria. You also have to go personally into the bank during business hours which are Monday to Friday 9am to 5Pm.

Often people get the loan from the garage selling them the car,, but rates in particular for second hand vehicles is expensive and you must always have a deposit.

When some one wants to carry out home improvements, loans may be obtained from the bank or from the company that are engaged to carry out the improvements.

The inconvenience of paying the home improvements with a loan from the bank is tha same as for the car loan, and that is you have to go into the bank yourself at a time to suit them and you must prove the purpose of the loan.

Loans from the home improvement company have high interest rates of about 25%.

Much better and much cheaper and more convenient loans for these, or almost any other, purpose are secured loans and remortgages that are low cost homeowner loans that can buy most things, and they are also good for debt consolidation.

When arranging a secured loan or a remortgage you do not have to go into a bank or building society and a secured loan or mortgage broker can arrange it by phone and post or call to see you at home.

Looking to find the best deal on homeowner loans, then visit www.championfinance.com to find the best rates on remortgages for you.

Explanations About Mortgages And Remortgages.

Mortgages are kinds of home loans and are the loans required for property purchase and most people need mortgages whether it is to purchase a property for the first time to become a brand new homeowner or to buy a second property as a subsequent home mover.

Mortgages come in all different varieties and this makes it important to seek advice from a mortgage broker if you yourself are not very in the know about mortgages, and all their aspects..

Getting advice from a mortgage expert is essential especially for first time buyers as their knowledge about mortgages will most likely be too little..They will not be sure of the difference between tracker mortgages and fixed rate mortgages, for example.

A home loan that is very like a mortgage is a remortgage, and remortgages are only for those who are already homeowners homeowners as they involve moving mortgage lenders, that is changing from the current mortgage provider to a different one.

Sometimes people apply remortgages only to obtain a lower interest rate,and this is a like for like remortgage when no extra funds are asked for.

Therefore mortgages are used to buy properties and remortgages involve changing from one mortgage provider to a different one.

Remortgages can be taken out for a larger sum than the current mortgage to raise funds for a great variety of reasons.

As well as like for like remortgages, remortgages can be the means of releasing funds on the equity of a property to buy just about anything.

Remortgages are great means of paying for home improvements and they can even enable you to carry out the improvements for less money as prices tend to go down when paying cash for labour and materials.You are not tied to using the servives of a major home improvement company.

Remortgages are ideal ways of carrying out debt consolidation which combine all debts into one lower payment and it also saves money and debt are easier to deal with.. It is a great to have one payment every month instead of a number of them.

To sum up, mortgages are the home loans required to buy a property and remortgages buy just about anything that you could ever wish for.

Want to find out more about remortgages then visit Champion Finance’s site on how to choose the best mortgage for you.

The Changing Face Of Secured Loans, Mortgages And Remortgages

The last few years have been very stormy for homeowner loans, remortgages and mortgages and for most financial products , but eventually matters seem to be improving.

Property prices is of course essential to secured loans, remortgages and mortgages.

As house prices crashed , so too did remortgages, mortgages and homeowner loans.

When a person wants to purchase a property , he needs to arrange a mortgage, and very few buyers have the finances needed to pay cash. As house prices fell so too did the requests for mortgages, as many were not prepared to move house with all the money that it costs in such unsettled times.

Whenever some one takes out a mortgage he is tied in to a deal for some years, after which in the past, many homeowners remortgaged which means the changing from one mortgage lender to another.

The reason behind this was to achieve a lower rate of interest, and sometimes extra cash was raised which could be used for almost any valid reason.

As property prices went down, many would no longer get a lower by taking out a remortgage as the equity was no longer enough to obtain a good remortgage deal.

In the same way, as remortgages and mortgages changed, so too did secured loans.

Homeowner loan lenders stopped trading one after the other at an amazing rate, going down from over twenty to less than a hand ful. The remaining lenders became so strict regarding underwriting that many homeowners were excluded from making an application.

One secured loan lender has introduced self certification of net profit for self employed applicants as long as the maximum LTV is 60% and three months bank statements are needed.

Loan to value has now been raised to 85% for employed applicants and 75% for the self employed.

Now all looks to get better with the increase of loan to values and secured loans now available at up to 85% for employed homeowners and 75% for those who are self employed.

Learn more about secured loans. Stop by Champion Finance’s site where you can find out all about remortgages for you.

categories: secured loans,homeowner loans,remortgage,remortgages,mortgage,mortgages

With Secured Loans And Remortgages You Will Never Lose Out In A Good Deal Again

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.

Clear Debt With Consolidation Loans And Remortgages.

It is not difficult to fall into debt and unfortunately many do get so deeply into the debt trap that it is difficult to escape from it and it has become almost a fact of life for many these days.

Debt is not inevitable but yet it is so common these days, and it is a feature that when it becomes apparent, has a terrible affect on the lives of so many people.

Many want to experience all that the universe has to be experienced and enjoyed and they seek high lights and thrills at every cut and turn through this wish for the best things in life.

Each morning on our way to work, we are faced with massive advertising hoardings telling us of all the best things in life that these posters advertise, and the people depicted in these adverts are needless to say all beautiful and handsome women and men.

Looking at these adverts we cannot help but notice that the people in them do not look much like us or our work mates , as they all look like movie stars. We truly believe or convince ourselves that if we bought the same watch costing thousands and wore the same expensive clothes that we could even win the heart of a movie star.

Jealousy is a bad condition and when we look at those with whom we work, or at individuals walking past us in the street, we hate to think for a single second that they appear to have more money than us.

On our hearts, we know that our neighbours and friends often have more income than us, but still we want all the same things as them. . So we take on more and more credit cards to enable us to go wherever we want and to buy everything that our heart desires. We do not stop to calculate and work out the total of the personal loan and credit card repayments monthly, and if we did, we would likely think that our addition was wrong as we could not believe the extent of all the debts.

Before it become a crisis , and the debt starts to cause stress , you really must obtain debt advice and the correct debt advice will be debt consolidation.

Debt consolidation is best arranged by either a remortgage or a secured loan which with their low interest rates will save a fortune and make life the way it was before debt struck.

Want to find out more about secured loans, then visit Champion Finance’s site on how to choose the best deals on a remortgage for you.

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