Secured loans
Over recent years an increasing number of homeowners have turned to secured loans in order to provide them with the finance that they need. The wide range of secured loans are available to homeowners. This is because these loans are secured against the property, hence the borrower must be a homeowner. There are many benefits to this type of loan, which has made them popular amongst homeowners looking to raise finance for a range of purposes.
When looking at secured loans there are a number of things that you should bear in mind. Firstly, these loans are secured on your home and therefore it is important that you are able to keep up with the repayments. Make sure that you can afford the repayments on the loan, and make sure that you get a competitive rate of interest and a suitable repayment period to help keep your monthly repayments down. This isn't always an easy task, but Loans4 has access and links to a wide range of secured loans offering very competitive interest rates and a choice of repayment periods of between 3 to 25 years, which means that you can enjoy more affordable repayments which wont strech your budget.
One of the main benefits when it comes to secured loans is the increased borrowing power available to borrowers, of between £3,000 to £250,000. The amount that you can borrow will depend on a number of factors, such as your income, financial and employment status, and your outgoings. It will also depend largely on the value of your property and the amount of other debts that may be secured against it, including your mortgage. However, secured lenders have the scope to lend far more than an unsecured lender because it is largly based on based on the property equity levels. Most unsecured lenders will not lend more than £25,000, and then only to those with a perfect credit history/rating.
 |
A great benefit of secured loans is that they are more accessible to those with poor credit. If you have a bad credit rating then the chances of getting an unsecured loan are slim to none. However, a secured loan gives the lender more security and this means that lenders are more likely to consider your application even if you have a bad credit rating. If you want to keep your monthly outgoings down then secured loans offer an added bonus - a choice of repayment periods (3 to 25 years), which are far longer than those available with unsecured finance (1 to 7 years). This means that you spread your loan over a longer period and get to make lower monthly repayments.
At Loans4 we can offer a choice of secured loans that are designed to suit all needs and circumstances, so as long as you are a homeowner you can benefit from great value finance, competitive interest rates to suit you, and affordable repayments that won't leave you financially struggling at the end of each month. You can find out quickly and easily whether you are eligible for a low cost secured loan, and you can be certain that your loan will prove to be value for money and highly competitive.
You can use secured loans for a wide range of purposes, and this includes carrying out home improvements, consolidating other debts, paying for special events such as a wedding, funding education, buying luxuries such as new cars, treating yourself to a fabulous holiday, and much more. Whatever you need to raise finance for you will find that secured loans are an effective, affordable, and sensible option for those with their own home.
Here at Loans4 we can find a perfect solution for your needs based on the information that you provide and your circumstances, so you can look forward to getting a great offer on a secured loan without having to worry about paying over the odds in interest and repayments.
 |
Latest Loan / Finance News
Savers being penalised through rock bottom base rate
The recent news that the Bank of England base interest rate was to remain at its all time low level of 0.5 percent for the twelfth month in a row will have been welcomed by millions of borrowers across the country, many of whom will be relieved to hear that their borrowing costs are not going to soar as a result of rising interest rates.
However, the same cannot be said of the savers in the country, who are said to outweigh borrowers by seven to one. According to recent reports millions of savers have suffered financial losses over the past year leaving the average saver around £600 worse off over the course of the year. Campaign groups claim that savers have been hit with the worst returns on their finances in history, and the decision to keep the base rate on hold yet again would add to their misery.
Research has shown that there are now no instant access accounts that offer savers interest that beats inflation, and to make matter worse some industry experts are stating that the base rate cuts have not actually helped the economy as much as had been hoped. The campaign group Saver our Savers has now stepped in and expressed its concern over the way in which savers are suffering and will continue to suffer for the foreseeable future.
Save our Savers is concerned that many of the savers in Great Britain are pensioners, and many of them rely on the interest from their life savings to get by financially. A spokesperson for the group said that savings interest rates were 'pitiful' and that the group along with savers felt betrayed and angry. He said that since the global credit crunch frustration amongst savers had turned into anger.
The group also went on to state that whilst it was not savers that had caused the collapse of the financial systems it was once again savers that were being penalised , with many watching their savings dwindle away and others unable to make their finances stretch far enough because of the lack of interest being paid on their money.
more ....
More news this week ...
|
Failure to return faulty goods costing Brits a fortune -
Millions of people in the UK go out shopping or get online to purchase goods only to find that they are faulty - 9th March 2010 more ....
|
Home ownership numbers set to fall -
The Council of Mortgage Lenders has recently released a report indicating that the number of people in the UK that own their - 8th March 2010 more ....
|
Acceleration of new car sales in February -
Although the end of the government's car scrappage scheme is now imminent the motor industry still appears to be benefitting from the - 5th March 2010 more ....
|
|
