Posts Tagged ‘homeowner loan’

Make Use Of Secured Loans For Home Improvements

March 14th, 2014 Comments off

This is a very good time of year to consider making an application for a secured loan which is also commonly known by its other name namely homeowner loan.

Why a homeowner loan is so called is because these loans are only available to those who in fact own their property, but homeowner loans can sometimes be granted on a buy to let property which the applicant owns but rents to another person meaning that the buy to let has a tenant living in it.

The other name for homeowner loans namely secured loans is because they require to be secured on an asset which in this case is the equity on the property of the person wanting the loan.

The equity on a property is what determines the maximum secured loan available and equity is the balance left when the mortgage balance is taken away from what the property is worth.

For those with sufficient equity,homeowner loans are available from 5,000 with most lenders up to normally a maximum of 100,000 with most secured loan lenders although there are secured loan lenders prepared to lend up to 500,000.

Homeowner secured loans can be used for any purpose but at this time of year the thoughts of most people are veering towards preparing their homes and gardens to best appreciate the good weather when it finally arrives.

Home improvement loans if arranged by the home improvement company normally have interest rates in the region of 25% which is very expensive and well above that of a secured loan that starts at about 9%.

Arranging a secured loan to undertake improvements to your property means that you can do much more work for the exact same money.

There is no nicer feeling in the world than improving your own little corner of paradise with its very own equity . You will add value to your property in addition to malking it nicer to live in thanks to a secured loan.

Want to find out more about secured loans then visit Champion Finance’s site on how to choose the best remortgage for you.

The Reason For Homeowner Loans And Remortgages

August 25th, 2013 Comments off

A homeowner loans, which is also commonly called a secured loan, and a remortgage are both among the group of loans known as home loans.

They are considered as being in this group, as both remortgages and secured loans are connected to property in some form or the other.

The first loan in this group of home loans , is the loan needed to buy a property and this is called a mortgage.

What a remortgage in fact is, is when a new mortgage is arranged with a different mortgage provider, that is the changing from a current mortgage lender to a different mortgage provider for several different reasons.

Homeowners are on average tied into a mortgage deal for twenty four months, although twelve month deals are not un common while even longer tie in periods of even up to ten years also exist, and at the end of the tie in time many mortgage borrowers find out about changing their mortgage lender.

The most common reason for wanting to remortgage is to obtain a better rate of interest and as rates really do vary a great deal between one lender and another, meaning that it is very possible that a remortgage will grant a better rate for homeowners and a lower rate of interest is often achievable.

Rates are at present available currently on tracker remortgages from 1.84% for those at a maximum LTV of 60% but even at 70% LTV a remortgage is available from 1.99%

For those who much prefer fixed rate remortgages, as they want to know the payment for the immediate future these remortgages are readily available from only 2.99% and it may well be a sensible course of action to consider a low fixed rate now, as it is unlikely that this rate will ever become any lower as they are already at an almost all time low .

The desire and need to save money is one of the most important and main reasons for wanting to take out a remortgage but this is certainly not the only reason, as a remortgage can be used to fund just about anything , and it is not the only home loan that has this ability to be used for a multitude of purposes, as secured homeowner loans have the same uses as do remortgages.

Homeowner loans are also commonly called secured loans and for the obvious reason that they are secured on property and they can also be used for all the same purposes as a remortgage. Some examples are for buying a car or even to buy a second property at home or abroad.

Just like remortgages, homeowner loans can be used to fund just about anything you can ever want or need from home improvements, to paying for school fees or just about anything, including paying for the wedding that you have been dreaming about since you were a child looking at photos of beautiful brides in magazines or a cruise or any other holiday.

Always consider a low rate secured loan or a remortgage if your are a homeowner wanting to raise funds.

Looking to find the best deal on homeowner loans then visit to find the best deals on remortgagesfor you.

Secured Loans, Mortgages And Remortgages Have Seen No Improvement.

February 27th, 2013 Comments off

The recession took the most dreadful toll on mortgages, remortgages and secured loans.

Secured loans fell by more than 80% of the level at which they stood at the end of 2006, and these once so popular loans fell to a shadow of their former self.

The real beauty of a secured loan lies in the fact that these secured homeowner loans can be used for any purpose providing the purpose is legal.

A common purpose of the secured loan apart fro home improvements , car or boat purchase, etc. was for debt consolidation. This is when credit cards debts, personal loans, etc. are all rolled into the one and replaced with a single low interest repayment in the shape of a secured loan. A secured loan at about 9% takes the place of credit cards costing from normally about 20% to even double that. The savings by using a secured loan for debt consolidation is apparent.

Mortgages which almost every consumer needs to buy a property declined as people were inclined to stay put at their current address during the recession, and as such there was not the same need for mortgages. The decline in property prices further had an adverse affect on the mortgage market.

Before the credit crunch it was common for a mortgage payer to change from one provider to another after their current mortgage deal ended and this meant that every two to five years mny homeowners changed their mortgage lender.

Changing mortgage lender is done to obtain a lower interest rate and is called remortgaging or a remortgage.

Remortgages can also be taken out for a greater amount to raise funds for almost any purpose just like secured loans

With the fall in house prices many homeowners could no longer obtain a remortgage at a really good rate of interest as low rates depend on the equity on a property.

Everyone hoped that the end of the credit crunch would witness the resurrection of mortgages, remortgages and secured loans but this has not happened.

Homeowners are no more popular since the end of the recession while remortgages are at their lowest for ten years with mortgages at the lowest ebb since the Spring of 2001.

Learn more about secured loans. Stop by \Champion Finance’s site where you can find out all about the best remortgage for you.