|
 |
2008-03-08 12:26:51
90% Secured Loans - How They Work, and How You Can Apply
|
 First off, what exactly is a 90% secured loan?
Let's look at the second part of the phrase first. A "secured loan" is a loan that is guaranteed by the equity in your home. A "secured loan" is a loan in which you are providing some collateral so that the lender will have less risk. The benefits of secured loans are: increased borrowing power, lower interest rates and a flexible repayment schedule.
When you hear the term "90% secured loan", do you know what this refers to? 90% refers to the loan to value ratio between your outstanding loans and the value of your home.
Let's take an example. Let's say that the appraised value of your home is 100k pounds. Let's also assume that you have an 80k mortgage remaining on your home. Under a 90% secured loan plan, you would be able to borrow up to 10k for a secured loan (80k + 10k divided by 100k = 90%). If you wanted to borrow 20k, you would be out of luck, as you would be moving over the 90% barrier. Some secured loan companies will lend up to a maximum of 125% of the total value of your home.
With a secured loan, you are able to borrow substantial sums of money for a variety of different reasons, including: debt consolidation, home improvements or a new vehicle purchase. Again, the additional benefits are: lower interest rates and a more flexible repayment schedule.
How can you apply for a 90% secured loan? This is the easy part. Simply click on this link and you will be taken to our easy to use application page. Simply take five minutes out of your day to fill out this form, and an agent from a leading secured loan firm in the UK will contact you shortly.
Apply for a Lending Place secured loan today!
|
|
Most Recent Articles
|
|
|
Get a 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 competing for your business - Apply Today
|
|
|
|
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
|
|
|
|
