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2008-03-06 04:43:12
80% to 100% LTV Secured Loans - Maximizing Your Borrowing Potential
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 Are you a homeowner who is currently residing in the United Kingdom? Do you have a significant amount of equity built up in your home? Do you have a desire to borrow a substantial amount of money to finance home renovations, debt consolidation or possibly the purchase of a new vehicle?
If so, then you should be made aware of the immense borrowing power that you have in the form of a secured loan.
A secured loan is a loan in which you provide collateral in the form of equity in your home. The benefits of a secured loan are: lower interest rates than unsecured loans, flexible repayment plans and greatly increased borrowing power.
With a secured loan, you can typical borrow up to 100% of the total appraised value of your home, minus your outstanding mortgage. So let's say that your flat is currently worth 250k pounds, and you have a 100k mortgage left on the property. Through a standard 100% secured loan, you would be able to borrow up to 150k pounds if you wanted to ($250,000 pounds - $100,000 remaining on your mortgage). You certainly don't have to borrow this much money if you don't want to - this is simply the maximum that you could borrow.
With a secured loan, you will usually be paying around 8.5 - 9% APR for your interest rates. Compare this to an unsecured loan interest rate of 15-20%, and you can see why people choose a secured loan.
Also, with a secured loan, you will have much longer to pay the loan off. With a secured loan, you can take up to 25 years to pay the loan back. With an unsecured loan, you will have a hard time finding a company that will let you take more than five years to pay off the loan. This makes sense - with no collateral, the default rate for an unsecured loan is much higher than a secured loan. Unsecured loan companies don't want loans that have repayment terms of 25 years.
Secured loans are a smart and economical way to raise a substantial amount of money. If you have a substantial amount of debt that you wish to consolidate, secured loans can make quite a bit of sense as you will be paying a much lower rate of interest compared to say, a credit card. If you wish to apply for a secured loan, simply click this link and you will be taken to our application form, which will take no longer than five minutes to fill out. Apply today!
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.
A lot of big banks are competing for your business - Apply Today
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