subject: The Attractions Of Secured Loans And Remortgages [print this page] When a homeowner wants to borrow a fairly large sum of money for any number of reasons he must consider a number of factors as to the best road to go down. He is faced with this decision no matter what the reason is for wanting the extra funds.
For those who are homeowners there are two main means of raising capital for any number of purposes.
Sometimes these means can be used even when no extra money is needed and what we are talking about now is debt consolidation
The two means of raising funds are remortgages and secured loans which are both homeowner loans secured on the equity of property.
What makes them such a good way to borrow is firstly their low rates with remortgages currently available from less than 2% and secured loans from only about 9%
A second attractive reason for choosing a secured loan or a remortgage is due to the fact that they can be used to do or to buy almost anything from a holiday to funding home improvements or even for buying a second or a holiday home.
Thirdly they have repayments that can be spread over as many as twenty five years which means that the repayments monthly can be made to fit any ones pocket.
Almost any homeowner can apply for a secured loan or a remortgage and the employed need three recent wage slips when applying.
Self employed remortgage borrowers now need accounts when wanting a remortgage
However for the self emloyed., self employed loans are there from one lender at a maximum LTV of 60%.
For self employed who can produce an accountants certificate secured loans are available at up to 75% LTV
by: Frankie George
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