2007-12-03 21:49:49
The 125 Percent Secured Homeowner Loan
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 You may have heard of this before. The 125% secured homeowner loan.
How exactly does it work? How do you apply? Who qualifies?
For starters, if you are a homeowner that is a permanent resident of the United Kingdom and over the age of 18, then you likely qualify for a secured loan. Even if you have CCJ's or arrears; it doesn't matter. What matters is that you own your own home.
The 125% secured loan works like this. First off, take the total appraised value of your home. Let's say that is 300,000 pounds.
Then, multiply the appraised value by 1.25. So, multiply 300,000 by 1.25 and we are left with 375,000 pounds.
Then, from this number, subtract the total mortgage outstanding on your home. So let's say that you currently have a 175,000 pound mortgage outstanding on your home. This would leave you with a number of 200,000 pounds. This is the maximum secured loan amount that you will be able to apply for.
Now, most people don't need that much. If you are looking to consolidate debt or pay for home renovations, then just apply for what you need. You don't necessarily have to apply for the maximum amount. Most secured loan lenders will only lend to a maximum of 100,000 pounds anyways, but they will make exceptions if you truly need more than that and have a demonstrated ability to pay it back.
Apply for a 125% Secured Homeowner loan is simple. Simply click on the link below this article, and you will be taken to an easy to fill out, 5 minute application form. We will then utilize our database of over 250 different lenders to find you the best, no obligation secured loan deal. Apply today!
Apply for a Lending Place secured loan today!
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