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Cheap Loans Till Payday - Using Cash Advance Loans in an Emergency
Need extra cash till payday? It's easy to apply and be approved for an online loan till payday. If you are in need of 100 dollars to 1000 dollars or more, getting a loan till payday has never been easier. Online payday advance companies can approve...
Home Loans and Mortgages – Tips to Avoid Foreclosure
Today’s real estate market is a volatile one; prices are at record levels and Interest rates are favorable, but foreclosures are increasing. Wages haven’t kept up with home prices and some buyers who had to stretch to find a way to obtain a...
Loans for doctors – financial funding for healthcare professionals
The revolution that has affected everyone’s financing technique is online loan borrowing. A very remarkable outcome of this loan borrowing is loans for doctors. ‘Loans for doctors’ are unique programme to help doctors worldwide to overcome financial...
Secured Loans Information
A secured loan is a personal loan which is generally offered to home owners. In a typical secured loan, the home is used as collateral against the loan, meaning that should you be unable to maintain the loan repayments, your home will be at risk. ...
Unsecured Personal Loans - Explaining the 'Why' Behind its Popularity
Personal loans through banks and financial institutions have
been a constant source of funds for most borrowers in the UK.
Limited funds and an unlimited number of expenses have always
forced individuals to use personal loans. Unsecured...
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Guide to Homeowner Loans
Here is a useful guide to Homeowner Loans. A Homeowner Loan is a loan secured against your home. Homeowner loans can help you unlock capital tied up in your home. They offer solutions that many other loans do not offer, like long repayment terms. Homeowner loans are secured against your home which will be at risk if you can not meet your repayments.
Homeowner loans are a popular secured loan where your home is used as security to the lender for the money you borrow. In other words, if you don't pay back the loan, the lender can, in extreme circumstances, sell your house in order to recoup any losses. Homeowner loans are also known as second charge loans or second mortgage loans.
A Homeowner Loan is any loan which requires the borrower to provide the lender with some form of security, in the case of our Homeowner Loans the 'security' will be a mortgage over the borrower's home.
How much you can borrow with a homeowner loan depends on how much equity is in your house. While the lender benefits from the peace of mind of knowing that the loan is secure, there are many benefits to the consumer of homeowner loans.
Firstly, compared with unsecured loans, homeowner loans tend to be faster and easier to arrange. As a homeowner, you can borrow against the value in your home without spending your equity.
With a homeowner loan, you can keep your current mortgage, so you don't need to remortgage in order to realise the value of your equity and homeowner loans usually have a lower rate of interest than unsecured loans.
Interest rates for homeowner loans will depend on how much you want to borrow, the repayment period and your financial circumstances, such as your credit record including any mortgage arrears and CCJs, proof of income and employment status.
Homeowner loans can be used for any purpose. You can use the money to consolidate existing debts, pay off overdrafts and credit cards or buy yourself a new car, go on holiday or make home improvements.
One of the benefits of a Homeowner loan is that the interest rate will be lower than on a comparable Personal loan. Quite often this type of loan will be more flexible in terms of repayment period and as the amount you can borrow is primarily based on the 'available equity' of your home, this tends to be more flexible also.
A Homeowner Loan is a loan secured on your home - this provides the lender with some form of security, regardless of whether it is mortgaged or owned outright.
You can borrow more with loans secured on property, normally up to £75,000 and the interest rates are normally lower than with an unsecured loan because of the lower risk to the lender.
With homeowner loans you can also pay over a longer period of time, anything between five years and twenty-five years.
You may freely reprint this article provided the author's biography remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.
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