3. You can borrow larger amounts and repay over a longer period. The amount available usually ranges from £3,000 to £50,000, although some lenders will consider lending more. Compare this to unsecured loans where you're only allowed to borrow up to £25,000. If you wish to borrow a larger amount or if you require a longer period in which to repay loan, secured loans may be most suitable for you.

4. You can consolidate more expensive borrowings into a single much cheaper monthly payment. You may choose to take out a secured loan in order to consolidate debts and replace high-interest loans with a low-rate loan. The loans being consolidated may include higher purchase loans, unsecured loans and credit cards.

Useful Points to Remember

Before you take out a secured loan, make sure that you can afford monthly repayments. Also, read loan agreement carefully and pay particular attention to rate of interest required, term of loan, repayments required and total amount payable. If you fail to repay loan, lender may repossess your property or home and sell it to repay loan. If you borrow money using a mortgage as security you are agreeing that lender can claim mortgaged property if you fail to keep to agreement. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. You can read some more articles about Secured Loans at: http://www.commercial-mortgage-guide.org.uk/loanguide/

Because of strength, stability and security of Spanish property market it is a relatively straight forward process to raise a mortgage or finance to afford to purchase a home in Spain. Obviously terms and conditions will depend on a purchaser’s individual financial circumstances, but some international mortgage lenders are prepared to consider future rental income from letting of a property as income on which they can base amount they will lend you.

If you dream of owning a dream home in Spain you could consider buying now, letting property for part of year to cover your mortgage commitments and benefiting in person for weeks of year when you usually holiday abroad.

If you were to purchase property in Benalmadena on Costa del Sol for example, you would be buying into one of most desirable areas of Spain for holiday lets and purchasing yourself possibly one of best returning investment vehicles in property terms globally.

On one hand area benefits from a wealth of golf courses, entertainment parks, perfect beaches and direct access to Malaga airport for international accessibility making it simple to rent your property for top dollar weekly returns all year. On other hand area’s attraction means properties available will become scarcer and as demand surges and supply diminishes value of your property will soar!

A true win win situation!