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2008-03-15 08:43:41
Financial Help via a Secured Loan - A Homeowner Loan can be Your Most Economical Solution
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 It can be tough sledding in this day and age.
You have global financial markets in turmoil. Jobs aren't quite as easy to come by as they were a few years back. Maybe you just recently got laid off or your spouse has had their hours cut back at work.
If you find yourself in a tough financial spot and are a homeowner currently living in the United Kingdom, then there is a solution to some of your problems. That solution is a secured loan.
What exactly is a secured loan? A secured loan is just as it sounds - it is a loan that is secured by the equity in your home. Meaning, you are providing collateral to the lender in the form of equity in your home (they will be added onto your mortgage).
Why on earth would you want to do this? Why not just take out an unsecured loan?
The benefits of a secured loan are many. They include:
-greatly increased borrowing power (homeowners can borrow up to 100k depending on the amount of equity that they have in their homes. Try taking out an unsecured loan for that amount).
-lower interest rates (typical APR for a secured loan is 9% - an unsecured loan can run as high as 20%)
-flexible repayment schedule (you can take up to 25 years to pay back a secured loan, just like with a mortgage)
-secured loan lenders are usually willing to overlook "blemishes" on your credit, such as CCJ's, arrears or just plain bad credit
So exactly how much can you borrow?
Use this simple formula. Take the total appraised value of your home and subtract the total outstanding mortgage and any other secured loans that might be on the home. Typically you will be able to borrow the difference between the two numbers. So if you have a home that is worth 100k pounds and you have an outstanding mortgage of 50k, then you are typically able to borrow up to 50k pounds. Now, you don't HAVE to borrow this much, but this usually represents the maximum amount that you can borrow.
Applying for a secured loan is quick and simple. Simply follow this link and fill out our five minute application form. An agent from a leading secured loan firm in the UK will follow up with you shortly.
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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