Finance: Secured Loans – Everything You Need to Know

Secured Loans – Everything You Need to Know

Written by www.24Hourfinance.co.uk

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• Secured loans are available to homeowners with no equity. • Secured loans enable you to release equity in your property. • Secured loans can be obtained via major high street banks or loan brokers. Loan brokers search for loan deals from niche lenders on your behalf, in exchange for a “broker’s fee” payable on completion. The broker’s fee is usually paid by repparttar

lending bank or customer. • Secured loan interest rates can vary from 6.9% APR to 30% plus dependent on your credit history. It’s a good idea to compare rates from different lenders before applying. • Secured loan repayments can be insured, protected against unemployment, sickness, accidents and death.

IMPORTANT FACTS YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

It’s very important that you can afford your loan repayments.

It is estimated that, in 2005, over £8.8 billion of secured loans will be used for debt consolidation purposes. http://www.24Hourfinance.co.uk currently lists a number of FSA regulated secured loan brokers and lenders.

USEFULL LINKS - SECURED LOANS IN UK http://www.24Hourfinance.co.uk/secured-loans.htm

24Hourfinance.co.uk is a leading financial portal enabling UK consumers to find and compare loans, credit cards, mortgages, bank accounts and cheap insurance quotes. Consumers can apply for finance 24-Hours a day with popular lenders.

WEB: http://www.24Hourfinance.co.uk

Bad Credit Loans - How to Get Credit Online

Written by www.24Hourfinance.co.uk

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CAN YOU AFFORD IT?

2. Don’t borrow more money than you can afford to repay, always use a loan calculator where possible to work out your monthly repayments. Or ask for a written quotation.

TO BE SECURED OR NOT TO BE 3. Secured loans range from £1000 to £250,000 and they’re a great way of releasing equity on your property. Repayments range from 3-25 years depending on your circumstances and rates can fluctuate. Ccj’s, Mortgage Arrears, Defaults and no proof of income are accepted by specialist lenders. APR (Annual Percentage Rates) may be considerably higher if you have adverse credit.

READ THE LABEL

4. It’s not unusual for loan companies to charge adverse credit customers a fee upon completion of a loan. Fees vary depending upon repparttar lender and repparttar 136941 clients circumstances. Always read repparttar 136942 small print before you sign repparttar 136943 dotted line.

YOU SHALL GO TO THE BALL

5. Compare lenders before you apply, you may have been declined in repparttar 136944 past but this doesn’t mean other lenders won’t accept you. If in doubt seek independent financial advice, repparttar 136945 FSA (Financial Services Authority) has useful links to financial advisors.

There are currently several specialist loan companies listed on http://www.24Hourfinance.co.uk who welcome loan applications from UK Homeowners and Council Tenants regardless of credit problems.

WEB: http://www.24Hourfinance.co.uk EMIAL: Press@24Hourfinance.co.uk

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