|
|
|
|
|
|
|
|
|
|
|
The recent boom in house price values have made some homeowners more wealth than they could have possibly earned though working in their jobs, however what use is all that wealth if you can't get your hands on it until you've sold your house? The quickest and easiest way to unlock the increased value in your home is often a secured loan that will allow you to receive a lump sum upfront without having to move or remortgage your house.
Why take a secured loan?
Perhaps it's time to take that amazing touring holiday, perhaps it time to replace the kitchen or even build an extension to your home, with unsecured lending normally restricted to amounts less than Ł25,000 if you need borrow more money then the best option will be a secured loan. Using a secured loan you could borrow up to Ł100,000 to spend at a low rate of interest because the lender has a second charge on your home.
Securing a loan on your home
Taking a secured loan is different to taking out an unsecured personal loan in several ways firstly the amount you can borrow is governed by the amount of equity you have in your home. The amount of equity is the current value of your house minus any outstanding mortgages and other loans.
After you have established how much you can borrow, the lender will make you and offer and undertake a survey on your house (usually a desk survey not involving an actual visit by a surveyor). If you progress the lender will then register a second charge on your home, this then gives them the right to receive money from the sale of your house should you fail to make repayments on the loan.
After you have taken out the loan you will then begin repaying the loan in small monthly payments, because the loan is secured against your property the loan can be arranged for a longer period of time and the longer the time you take the loan over the smaller the monthly payments.
Taking out a secured loan could be the answer to your dreams.
Rhodri James is the Consumer Finance Manager for Decision-Finance http://www.decision-finance.co.uk, a company that specialises in providing customers with on-line quotes for financial services such as secured loan and unsecured loan.
Wind Chimes and more... Buying a home after a foreclosure is not an impossible... Read More You've been looking at houses for months, and finally you've... Read More 'Flexible mortgage' is a term that's used a lot, but... Read More Recently I was driving in my Car and I heard... Read More Using a home equity loan really depends on what your... Read More How many times do you check you restaurant bill? If... Read More Obtaining a home equity loan does not have to be... Read More Mortgages have assumed a number of characters from the time... Read More Buying and financing a home today can be overwhelming. Here... Read More Owing to the popularity of home equity loans, there are... Read More The market for mortgage refinancing has been brisk during the... Read More Mortgage advice overwhelming you? Many people get advice from everyone... Read More When looking at tips for first time home buyers, you've... Read More Refinancing online is a great opportunity to find low interest... Read More 1. Never discuss your household finances over the phone with... Read More A few notes of importance: This only applies to... Read More Buying a home, especially for the first time, can be... Read More Consumers interested in purchasing or refinancing a home will pay... Read More Help is available to borrowers who have claims against their... Read More Looking for home mortgage loans can get confusing with the... Read More There are several reasons why you might be in the... Read More Owning your dream home need not just be a dream.... Read More The quest is on! You're in the market for a... Read More A buy to let mortgage is a mortgage on a... Read More Buying a Home for the first time can be a... Read More
Windchimes
for great gifts!
Buying a Home After a Foreclosure
Do Your Homework - Find the Mortgage That Fits Your Lifestyle and Your Budget
What is a Flexible Mortgage?
Secrets Your Banker Wont Tell You - Which Loan is Best for You?
Reasons To Get A Home Equity Loan
A Simple Way to Save Thousands on Your Mortgage Charges
Home Equity Loans - 5 Useful Application Tips
Reverse Mortgages ? a Reversal of the Mortgage Process
Mortgage Questions to Ask Your Lender
Getting The Best Home Equity Loan
Home Equity Loan ? Beware of Equity Stripping Scam
Helpful Mortgage Advice
Tips for First Time Home Buyers
Refinancing Online - Tips For Getting a Low Interest Rate When Applying Online
Five Things Never To Tell Your Mortgage Lender When Facing Foreclosure
Home Equity Loans in Texas
No Fee Mortgages Coming Soon
A Qualified Mortgage Consultant Can Help Boost Credit Scores
Are You A Victim Of A Predatory Mortgage Foreclosure?
Mortgage Soup
A Guide to Getting a Bad Credit Remortgage
A Home Loan Can Help You Own Your Dream Home
How to Find the Lowest Rate Possible!
What is a Buy To Let Mortgage?
Mortgage Terminology for the First Time Home Buyer
Here are some of the benefits to doing your home... Read More
Texas was one of the last states to allow homeowners... Read More
A home owners' insurance is the cover for the house... Read More
Most consumers are aware that a history of paying bills... Read More
Imagine paying your mortgage off in 15 years! Think of... Read More
There's more Regulation Z compliance on the way, courtesy of... Read More
Buying and financing a home today can be overwhelming. Here... Read More
When you need a mortgage -- either because you are... Read More
Many people fret the rising tide of interest rates. You'll... Read More
Your home is a source of pride and accomplishment. Did... Read More
A mortgage is a loan that is guaranteed by a... Read More
To make needed repairs to your home without the advantage... Read More
When applying for a mortgage loan when you have a... Read More
When trying to obtain the best mortgage rate compare offers... Read More
A problem that often arises when people try to refinance... Read More
A Home equity line of credit is a loan which... Read More
Almost two thirds of first time buyers accept the first... Read More
Buying a home with poor credit is easier than ever... Read More
A Bridging Loan is a short-term loan used as a... Read More
Here is a useful flexible mortgage guide. Flexible mortgages are... Read More
When a mortgage broker asks a borrower to pay points,... Read More
An offset mortgage is very similar to a current account... Read More
Recently I was driving in my Car and I heard... Read More
Buying a home after a foreclosure is not an impossible... Read More
There has been so much fraud discovered in the FHA... Read More
Mortgage Refinance |