Finance: What is a Home Improvement Loan?

What is a Home Improvement Loan?

Written by John Mussi

A UK Home Improvement Loan Can Give You The Home You Want.

Looking to increase repparttar value of your property? A Home improvement Loan could be repparttar 112267 easiest and cheapest way to make improvements to your home.

Are you planning an extension to your home, would you like to have double glazing, a new conservatory, patio, or a new heating system, or are you undertaking repparttar 112268 general up keep of your home but finding it hard to pay for?

A home improvement loan may well provide your solution. The loan can be repaid over any term between 5 and 25 years, depending on your available income and repparttar 112269 amount of equity in repparttar 112270 property that is to provide repparttar 112271 security for repparttar 112272 loan. With competitive rates and a quick decision a home improvement loan could well be just what you need to enable you to finance your dream improvements.

A UK Home Improvement Loan is a low cost, low rate, cheap, low interest loan secured on your UK property. As repparttar 112273 home owner, it frees you up to do whatever improvements you want on your property.

With a UK Home Improvement Loan you can borrow from £5,000 to £75,000 with low monthly repayments.

A UK Home Improvement Loan is great if you want to raise a large amount; are having problems getting an unsecured loan; or have a bad credit history – you may be able to get a UK Home Improvement Loan even when you have been turned down for an unsecured loan.

What is a Secured Loan?

Written by John Mussi

A secured loan is simply a loan that uses your home as security against repparttar

loan. Secured loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured loan; or, have a poor credit history. Lenders can be more flexible when it comes to secured loans, making a secured loan possible when you may have been turned down for an unsecured loan. Secured loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime. Benefits of secured loans include: •Lower monthly repayments than unsecured loans •The ability to borrow more money •Spread repayments over a longer period of time

More detailed information……. A secured loan is a type of loan available to people with securable assets. Usually these assets take repparttar 112266 form of property, such as a home; this is why secured loans are often referred to as 'homeowner loans', “home loans”, ”secured personal loans” or “second charge loans”.

You do not have to own your own home outright to be able to take out a secured loan; if you have a mortgage you can put repparttar 112267 proportion of repparttar 112268 home that you own up as security.

Because a secured loan is secured on property, most lenders will approve your loan even if you have a history of adverse credit such as county court judgements (C.C.J’s), defaults and arrears.This make secured loans very attractive to people who would otherwise not qualify for a loan from their local bank.

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