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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.
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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.
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Latest Loan / Finance News
Research reveals UK's top burglary insurance claim hotspots
Whilst most of us pray that we will never actually have to use it, most of us have some form of insurance in place to protect us financially in the event that we get burgled and lose possession of monetary or sentimental value. However, with crime rates being much higher in some areas than others, there are some people who are far more likely to make a claim on their home insurance policy simply because of the area that they live in.
A recent study has highlighted the top twenty hotspots in the UK where burglaries and subsequent home insurance claims are most likely to have been made. The research showed that those living in Stoke Newington in North London are most likely to make a claim for burglary, as for every one thousand residents in the area nearly thirty four have had to make an insurance claim relating to theft.
The data that was released has been based on millions of home insurance quotes that have been provided to consumers nationwide. Two of the burglary hotspots that were highlighted in the data were London and Yorkshire. Streatham is said to have the highest proportion of burglary claims with Mill Hill and Wood Green also taking spots near to the top of the hotspot list.
Also featuring on the list were a number of areas in Yorkshire, including Doncaster, Bradford, Leeds and Sheffield. In Apperley Bridge, Bradford, there were nearly thirty two claims per one thousand residents, which matched the figure for West Bromwich in the West Midlands.
The report also showed areas there people were least likely to have made a claim, which means that they are often be able to get far better deals on their home insurance. This included Peterlee in County Durham, Bodelwyddan in Denbighshire, Wales, Helston in Cornwall and Elgin in Moray, Scotland. The number of claims per one thousand people recorded in these areas came in at less than one.
For those who live in the hotspot areas the cost of taking out home insurance could end up being considerably higher than for those in the lower crime areas simple due to the increased risk of a payout for the insurance firm.
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