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A Beginner's Look at Secured Homeowner Loans
Secured homeowner loans come in a variety of different types and amounts, and are intended for a wide variety of uses. These loans can be used for the same purposes as most personal loans… they can allow you to purchase a new car or other vehicle,...
Boat Loans: The Most Convenient Way To Become A Boat Owner
Buying a boat appeals to different people for different reasons.
The blue waters of deep seas, rivers and lakes fascinate many of
us. We like fishing, sailing, cruising or even living on the
high seas. All this is not feasible without a boat....
Demystify the allegorical misinterpretation of bad credit personal loans.
Every time you go for a loan, the bad credit trademark hits you where it should – your odds at finding a loan. For bad credit personal loan, it is necessary to discover your standing as a loan claimant. Loan borrowing is promoted as a much...
Payday Loans: Fast, Easy
Payday Loans: Fast, Easy
Looking for payday loans, fast, easy and affordable? There are a
number of various loans out there that you can take advantage
of. The goal is to find the right one for your specific needs.
Having many companies out...
SECURED LOANS: AN ASSURANCE TO A CAREFREE TOMORROW!!!
Secured Loans facilitate borrowers to avail of capital against
the value of the asset placed as security with the creditor. The
creditor now has the ownership rights to the asset, which acts
as guarantee against the loan. Although the asset is...
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Loans For Bad Credit
Personal debt in the UK has soared to record levels over the
past few years. The Bank of England has recently confirmed that
personal debt on a national level now amounts to more than
£1,065 billion. Recent media reports suggest however that with
low interest rates on loans that the UK public are becoming
increasingly comfortable (and able) to manage high levels of
debt. These reports have a good body of evidence behind them
too, not least the fact that in 2004 the average age of outright
homeownership fell to a record low, showing that people are
paying off their home loans faster than ever before!
But, with a large proportion of the population handling some
form of debt it is inevitable that some people will end up with
debt problems, sometimes through no fault of their own. When
this happens, loans can become difficult if not impossible to
pay off. People with bad debt problems then land themselves with
a bad credit history that ends up excluding them from taking out
loans at a decent interest rate in the future.
Loans for people with bad credit
But, a bad credit record does not have to be the be all and end
all of buying on credit. In today's competitive loans market
there are increasing numbers of specialist loans companies who
are ready and willing to receive applications for loans and
credit from people with a bad credit history. If you have
acquired county court judgements (CCJs), have defaulted on loans
payments or credit agreements, have mortgage arrears or have
been declared bankrupt, specialist companies offering loans for
bad
credit may be able to help you.
When applying for loans for bad credit, mainstream lenders tend
to look almost exclusively at your credit file to assess the
risk involved of lending money to you. However, specialist
companies dealing in loans for bad credit are more likely to
take other factors into consideration. These 'other factors' may
include your current occupation and level of job security, as
well as the amount of income you have coming in and whether you
have equity in your home. If you are a tenant then your chances
of obtaining loans when you have a bad credit history are
substantially increased if you have been present at the same
rented accommodation for 3 years or more.
How much can be borrowed on loans for bad credit?
How much a lender is willing to give people with a bad credit
history on loans for bad credit rather depends on how well they
perform in the loan company's assessment. Each bad credit
applicant will be assessed on their individual circumstances,
with bad credit applicants who are seen as less of a risk to the
loans company being able to borrow more at a better rate than
those deemed to be a higher risk. As a guide, bad credit
applicants for a credit card may be able to receive a credit
limit of £2500, while bad credit applicants looking for a
mortgage may be able to borrow 2 - 2.5 times their salary.
About the author:
Matthew Bourne has been working in the loans, mortgage and life
insurance industry for over 10yrs and is currently working for
http://www.loansgalaxy.com and http://www.1click.co.uk
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| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
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| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
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| Direct Loan Home Page |
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| Secured Loans UK - Secured Personal Loans - accepted.co.uk |
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| UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
| The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
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