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2008-02-21 08:21:56
Online Secured Collateral Loans - How to Borrow Up to 125% of the Value of Your Home
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 Are you a homeowner who currently resides in the United Kingdom?
Do you need to borrow a substantial amount of money to consolidate debt, finish your home renovations or purchase a new vehicle?
Do you have a substantial amount of equity built up in your home or flat, but you don't want to sell your home to raise capital?
If so, then you might want to think about taking out a secured collateral loan on your home.
With a secured collateral loan, you can borrow up to 125% of the value of your home.
Here is how it works:
You fill out an application, and your details are sent to a leading secured loans firm in the UK. You will be contacted by this firm, and they will run through your details and let you know if you have been conditionally accepted or denied. Generally speaking, if you have a decent amount of equity in your home and are gainfully employed, then you will be accepted.
Next, you send in your paperwork (proof of employment, etc.) and they will either formally approve or deny you.
A secured loan involves adding the secured loan firm to your mortgage. Basically, you are guaranteeing the loan by pledging some of the equity in your home as collateral. This way, the secured loans firm has a much smaller degree of risk.
Why would you want to take out a secured loan? Because the interest rates are much lower than that of an unsecured loan. Think about it - if the lender has less risk, then they can charge you less interest. Plus, you will have a more flexible repayment schedule (you can take up to 25 years to pay the loan back) and you will be able to borrow much more money.
How much more money? With most firms, you will be able to borrow up to 125% of the value of your home, minus your outstanding mortgage. So simply take the appraised value of your home, multiply this amount by 1.25, and subtract the mortgage that is outstanding on your home. This will leave you with your maximum borrowing power.
Applying for a loan is quick and easy. Simply click on the link below and take five minutes out of your day to apply. There is no obligation to take out a loan.
Apply for a Lending Place secured loan today!
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Get Your Free Loan Offer Today - Click Here
There is NO FEE and you are under NO OBLIGATION!
We'll Compare over 250 loan plans and search over 90% of the loan market.
Applicants with bad credit history, Mortgage Arrears, Missed payments or CCJs are welcome.
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