Debt Consolidation, Remortgages and Secured Loans - Homeowner Loans Now

Debt Consolidation, Remortgages and
Secured Loans - Homeowner Loans Now
By Liz Moir

During the recession many people put off doing anything whatsoever as regards their financial state.

They waited and hoped that the recession would end at any moment and the economic situation would improve and totally change virtually over night, not only in the country as a whole, but in their own household.

These were of course rather foolish opinions to hold, as it takes years rather than even months to recover from such a deep and all consuming credit crunch, and the end of a recession is not the advent of a sudden miraculous new economic growth.

In fact the UK economy is witnessing only a very slight growth with experts predicting that there is a fairly strong possibility of the arrival of yet another recession.

Over the last three years, as a result of the public's unwillingness to make any change to their finances, mortgages fell partly as a result of the lack of security that people felt in their employment status, and partly as a direct result of the fall in property prices.

Remortgages tumbled as did secured loans for the exact same reasons as did mortgages, all in spite of the fact that the Bank of England Base Lending Rate had been reduced to the all time low of only 0.05% in an attempt to kick start the economy as of course sensible lending and prudent borrowing are at the basis of a healthy economy.

The low base rate did nothing to encourage people to apply for mortgages, remortgages or secured loans even although many could have well done with a remortgage or a secured loan for such things as debt consolidation.

Now that people are fully aware that there is no economic quick fix now that the recession is over, they are again returning to their normal habits of such matters as purchasing a new car for example with the sale of new cars currently soaring.

Similarly they must now realize that while low rates from only 1.84% are still available, the time is right to consider tidying up their finances and combining outstanding credit cards, personal loans, etc.a remortgage or a secured loan lumps all repayments into the one.

Many maxed their cards to survive their shorter working hours for example, and with credit card rates of up to and even over 40%, arranging a secured loan or a remortgage to pay these cards off is a wise move.

Remortgages, as already stated, have interest rates starting from as low as 1.84% for a tracker remortgage and from 2.99% for a fixed product.

The interest rate for homeowner loans or secured loans is from about 9% at the moment.

Debt consolidation by means of a remortgage or a secured loan can save hundreds to even thousands of pounds each month for people deep in debt.

In addition, debt consolidation leaves one monthly payment instead of numerous payments, meaning that with fewer debts to pay every month the debt consolidation borrower will make the management of finances easier.

Arranging debt consolidation is advantageous for those with debts.

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Debt Consolidation, Remortgages and
Secured Loans - Homeowner Loans Now

Use a Secured Homeowner Loan to Buy Another Property

Use a Secured Homeowner Loan to Buy Another Property
By Liz Moir

If you are a homeowner you can obtain a secured homeowner loan which can be used for a variety of purposes, whether it is to carry out home improvements, to purchase a car, fund a wedding, etc.etc.

A secured homeowner loan can be an excellent way to buy a foreign property.

Prices of properties abroad can be bought at very low prices at the moment due to the credit crunch forcing people to sell their second property.

There are very good buys in France at the moment, although France has always been a popular country for British people, in particular, as prices have always in general been cheaper in France than in the UK.

By taking out a secured homeowner loan you will get a good rate of interest, and you will not require a deposit as you would if you arranged a mortgage on the property in France.

Secured homeowner lenders will normally grant this type of loan up to a value of £100,000 or more subject of course to equity, income and status. A secured homeowner broker can arrange everything for you, leaving you free to surf the web to find your dream second home in France.

It is obviously advisable not to put in an offer to purchase a property until you actually have the funds which takes about three weeks or slightly longer.

However there is no harm in looking, not only on the internet, but also in various publications which feature properties in France for sale.

There are many beautiful areas and cities in France to consider when you have decided to purchase a property in France with your secured homeowner loan.

It may be worth considering Brittany and Normandy in the North of France, as you can take a car ferry which sails direct to these two areas from the British coast.

These areas do not enjoy the almost non stop sunshine that can be enjoyed in the South of France which is however considerably more expensive.

However, Normandy and Brittany have many quaint villages and you can buy a completely habitable two bedroom property there from about £50,000.This is quite a bargain. Also both of these regions have seafood to die for.

Some of the names of the towns in these areas may seem familiar to you even if you have not visited these areas of France before, names such as Brie, Camembert,etc., which are world famous cheeses from these areas.

Courtesy of your secured homeowner loan, you could enjoy these culinary delights in the land of their birth as it were.
Cider and many other apple alcoholic drinks also stem from here.

The coast is beautiful, and your secured homeowner loan will also be sufficient to purchase a flat with a seaview in the most attractive town of Deauville home to the world famous film festival and an extremely grand casino.

It is also possible to purchase properties in the world famous wine region of Burgundy quite comfortably with your secured homeowner loan money.

You can again buy a habitable property in this area of France from about £50,000.

There are dozens of quaint villages in this area of France where time seems to have stood still, with ancient farms sometimes situated on the main road of the small town or village.

If you think you would like this area of France, but prefer some place more lively, you could use your secured homeowner loan to purchase a flat in the lovely city of Dijon which lends it's name to the world famous mustard.

I hope this wets your appetite and gives you some idea of what you can buy in France with your low rate secured loan

http://www.championfinance.com

Champion Finance arranges homeowner loans, whole of market mortgages and remortgages.

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Use a Secured Homeowner Loan to Buy Another Property

Homeowner Loans a.k.a. Secured Loans Still Remain the Best Way For Homeowners to Borrow

Homeowner Loans a.k.a. Secured Loans Still Remain the Best Way
For Homeowners to Borrow
By Liz Moir

There are as many types of loans as there are hot dinners and they fall into two main broad groups and that is secured and unsecured.

As unsecured loans are exactly what they say on the box, no form of security whatsoever is required or asked for when making an application, and as such everyone in theory can apply for these loans.

When talking about any form of borrowing the word theoretically must be attached initially as the successful application for a loan depends on a number of factors such as income that is the earned income of the applicant, status which refers to the lender receiving a credit reference agency report concerning the applicant's credit rating that is acceptable for loan purposes, etc.

Both tenants, that is those who do not own their own home, can apply and be considered even now for unsecured loans, but as the underwriting is so very very tight now the success rate is extremely low. Welcome Finance used to advance loans to tenants.

However the interest rates were high and the maximum loan value was low often up to about £2,000 maximum. Welcome of course also advanced loans to homeowners as did other lenders such as Blackhorse, etc.

Now since the credit crunch there is really no place tenants can achieve the money they require. Homeowners however are in a very much better position as if they have equity in their property they can apply for a secured loan otherwise called a homeowner loan.

There really is no need a homeowner shopping around for these scarce on the ground unsecured loans as if the homeowner fits the secured loan lenders criteria secured loans / homeowner loans are still readily available.

Homeowner loans are available at excellent interest rates starting at about 9% APR these days.They are based on the equity in a property, and what equity is is the difference between the value of the property and the outstanding balance of the mortgage secured on the property. If a property is worth £350,000 and the mortgage balance is £200,000 the maximum equity would be £150,000.

Since the recession equity has has tightened and the maximum LTV for an employed applicant is 80% and 70% of the homeowner loan applicant is self employed. This means that based on the previous example a self employed applicant would be eligible for a maximum homeowner loan of £45,000 and for an employed applicant the maximum homeowner loan available would be £80,000.

If someone has a poor credit rating bad credit loans are available as long as they are secured on property at 60% LTV if the credit rating is a little poor and 50% for homeowners with very poor credit scores.

Therefore if a homeowner needs money for any purpose the best and cheapest way to borrow is by arranging a homeowner loan.

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Homeowner Loans a.k.a. Secured Loans Still Remain the Best Way
For Homeowners to Borrow

Increased Demand For Homeowner Loans

Increased Demand For Homeowner Loans
By Tajinder Talwar

In UK the homeowners prefer to get homes on mortgages. It has become the culture of UK. You will see that majority of the people have owned homes, by taking loans from different financial institutions. To buy your own land on cash does not seem to be an affordable way. Land in UK is highly expensive.

If you are also looking forward to own your own house, then nothing can be better than to contact mortgage company, which will lend you money and in this way, you will get a home and will repay the amount to the firm in small and affordable installments. There are different plans, which can be designed for individuals, depending upon their ease and convenience. Homeowner loans are being considered the easiest way of living in your private home.

It will save a lot of your money and you will start living a peaceful life. Do not prefer to live in a rented house. The rents are touching the sky and you will always be afraid of getting kicked out of your home. It is better to save your money and to invest in your private home.

By paying installments, a time will come, when you will return the money to your lender and the house will be transferred to you. What else you are looking for? Of course, nothing can be better that to own a house in UK.

There are many cases in which people are trapped in financial problems and they become unable to repay the money and resultantly they get under the burden of heaps of debts. In order to protect yourself from increased debts, you should always manage your budget and prefer to pay the installments in time, but if you get failed because of some kind of financial crises and now you have got under the burden of liability, then there is nothing to worry about. You can go for debt management.

There are different companies, which can help in taking your out of the problem in the best possible way. You can get your debts managed in an affordable way. All you have to do is to locate a reliable debt management firm, which will design a payment plan for you and you will be able to settle the debt.

If you do not want to bring any kind of problems in your life, then you should plan first and then go for mortgages. Make sure that you get loans depending upon your financial strength.

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Increased Demand For Homeowner Loans