|
|
|
A Beginner's Guide to Low Interest Debt Consolidation Loans
Looking for low interest debt consolidation loans can sometimes seem like looking for gold at the end of the rainbow, but loans with minimal interest can be had even by people with poor credit ratings. The most important things in trying to find...
Federal PLUS Loans
Federal PLUS Loans As a student entering college, it is very unlikely that you have a few spare checks lying around that you can cash and magically use to pay for college. Most college-aged students, ranging from late teens through mid-twenties,...
Home Loans
Approvals of home loans in January 2005 fell to their lowest level since January 1999. Only 126,300 mortgage loans were approved throughout the month, representing a 28% year-on-year drop in mortgage loan approvals. With competition between lenders...
Home Loans - Dispelling The Myth
You have undoubtedly heard a plethora of advice when you mentioned you were considering buying a home. Everyone probably had an opinion, they always do. Some very well intended people probably gave you the worst advice you could possibly have...
Military loans – serving financial need of those who serve the country
Military loans are overcoming financial difficulties for army personnel who have served the country with a dedication which can’t be put in words. Military loans are offered to both serving army persons and those who have retired from the service....
|
|
| |
|
|
|
|
|
|
Secured Personal Loans - Employ the Right Kind of Finance
Secured personal loans have a history that dates back to
centuries before the advent of modern banks and financial
institutions. Even in the ancient times, borrowers were able to
draw funds only when the lender was given rights to certain
assets. Though a vast change is visible in the lending policy
today, the popularity of secured personal loans sees no decline.
Though homeowners do have the option to take unsecured personal
loans, a majority of the group prefers to have loans the secured
way.
Mere apprehension of losing homes through repossession fails to
motivate borrowers to change loyalties. At least borrowers who
have been regular in credit transactions or had not more than
one or two incidences of bad credit will not put their weight
for loans without collateral. Loans without collateral or
unsecured personal loans do not claim a direct charge on the
borrower's home, but compensate the risk with a very high rate
of interest and equally strict terms. Therefore, while the
safety of home is ensured, the cost of loan rockets up.
It is obvious that the cost of Secured
personal loans is lesser because of the lower interest rates
and less strict terms. When the loan comes over for repayment,
secured personal loans will be easier to repay because of lower
cost involved.
The intention of loan providers who try to influence the
decision of borrowers to take secured personal loans is often
viewed disapprovingly. Lenders prefer secured personal loans
because of the lower degree of risk placed by them. People
interpret this as the lenders eye on their home. Lenders are in
no way interested in repossessing house or any other asset kept
as collateral. Since, repossession, maintenance and liquidation
put a huge cost on the lender, he would better allow the
borrower to himself repay the loan provided. Only in the most
extreme of cases when the loan appears to become a bad debt,
lenders undertake to repossess collateral.
Consequently, the fears regarding secured personal loans are
misplaced.
Advantages of secured personal loans are numerous. Principal
among them is the treatment meted out to borrowers who opt for
secured personal loans. The preference that the secured personal
loan borrowers enjoy is well known. Since the fate of an asset
of theirs is on stake through collateral, not many borrowers
would take the step
to be irregular in repayments. Consequently,
the risk involved in secured personal loans is lower. Leniency
in other terms is the result of the reduction in risk.
Interest rate, for instance, is the lowest in secured personal
loans. Typical APR ranges from 6% to 25%. The interest rate
chargeable on any other loan will be much higher. The asset
pledged towards collateral helps determine the APR that the
borrower has to pay. Home and real estate property commands the
lowest APR. Automobiles and title to motor vehicles too command
a good interest rate, albeit higher than in homes.
The collateral offered also determines the amount that can be
had through secured personal loan. Home presents the safest bet
for lenders. Thus, maximum amount will be lent against home. As
a rule, the largest amount is offered through secured personal
loans. When secured personal loan is offered against home, it is
the equity that decides the amount of loan offered. Thus,
borrowers planning to use the loan proceeds to huge expense
heads like debt consolidation, home improvement and car purchase
will be benefited more through a secured personal loan.
Though the repayment options presented to the borrowers of
secured personal loans are no different from that available to
the unsecured loan borrowers, repayment is a relatively smoother
journey for the former category of borrowers. Most lenders will
make the terms of repayment flexible enough to suit borrowers.
Some loan providers have deployed experts to educate borrowers
about the various options that are available to them for loan
repayment. The method used for disbursal of loan will be
suggested after gaining a proper knowledge of the borrowers
financial condition. A proper study indicates if the borrowers'
finances will be able to support the repayment method and the
loan itself.
Secured personal loans do have a few drawbacks. Proper decisions
and accurate planning on secured personal loan however minimise
the impact produced by these drawbacks.
About the author:
Andrew baker has done his masters in finance from CPIT.He is
engaged in providing free,professional,and independent advice to
the residents of the UK.He works for the Secured loan web site
loans fiesta for any type of loans in uk,secured loans,unsecured
loans,debt consolidation loans please visit http://www.loansfiesta.co.uk<
/a>
|
|
|
|
|
| Cheap Loans | car, personal & secured homeowner loans ... |
| Compare over 400 UK personal (unsecured) and secured homeowner loans, including car loans, to find the cheapest deals... |
| www.moneysupermarket.com |
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| Loan Center - Yahoo! Finance - News, Education, Daily Rates and ... |
| Loan Center - The Yahoo! Finance Loan Center provides useful tips, calculators, and rate data to help you choose an auto loan, mortgage, or personal loan ... |
| loans.yahoo.com |
|
| FREE LOANS QUOTE - the customers champion. Finding you the right ... |
| COMPARE! Let us get you a loans quote with minimal fuss. We're the UK specialists. |
| www.moneyweb.co.uk |
|
| Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
| Offers consumer loans for any purpose in the United Kingdom. |
| www.loans.co.uk |
|
| FinAid | Student Loans |
| An education loan is a form of financial aid that must be repaid, with interest. ... The interest rate on the Stafford Loan for new loans first disbursed ... |
| www.finaid.org |
|
| GovLoans.gov - Find the Right Loan for You |
| GovLoans is a partnership of many Federal agencies and organizations with a shared vision - to provide improved, personalized access to government loan ... |
| www.govloans.gov |
|
| Loan - Wikipedia, the free encyclopedia |
| Bank loans and credit are one way to increase the money supply. ... Abuse in the granting of loans is known as predatory lending. ... |
| en.wikipedia.org |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Loans - Compare Mortgage Rates - MSN Money |
| Get a mortgage loan that’s right for you. Compare mortgage loan rates of top lenders. |
| moneycentral.msn.com |
|
| The Student Loans Company Ltd. |
| Provides details of the Student Loans system which is part of the Government's financial support package for students. |
| www.slc.co.uk |
|
| Sallie Mae - Private Student Loans, Stafford, PLUS, Student Loan ... |
| Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
| www.salliemae.com |
|
| Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
| This page provides content and information related to the Loan Guaranty Home Loan Program. |
| www.homeloans.va.gov |
|
| Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
| Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
| www.fool.co.uk |
|
| 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. |
| www.lendingtree.com |
|
| Direct Loan Home Page |
| The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
| www.ed.gov |
|
| Personal, home equity loans for union members at Union Plus |
| Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
| www.unionplus.org |
|
| Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
| Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
| my.countrywide.com |
|
| Secured Loans UK - Secured Personal Loans - accepted.co.uk |
| We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
| www.accepted.co.uk |
|
| 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. |
| www.ukpersonalloanstore.co.uk |
|
|