What is a Secured Loan?Written by John Mussi
A secured loan is simply a loan that uses your home as security against 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 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 proportion of 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.
| | How to finance a new extension?Written by John Mussi
Want to improve look of your property? Want to add value to your property? The extension plans are ready but finances are not. Rather than waiting another year why not consider a Home Improvement Loan. Make dream become reality with a UK Home Improvement Loan.Are you planning an extension to your home, a new kitchen, would you like to have double glazing, a new conservatory, patio, or a new heating system, or are you undertaking general up keep of your home but finding it hard to pay for? A Home improvement Loan could be easiest and cheapest way to make improvements to your home. A UK Home Improvement Loan is a low cost, low rate, cheap, low interest loan secured on your UK property. As home owner, it frees you up to do whatever improvements you want on your property.
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