subject: Remortgages Or Secured Loans For Consolidation. [print this page] In a modern vibrant world , one essential element is lending and borrowing which mut always bee done in the correct way.
Snsible is the most important word in the above sentence and when this word is ignored by both lenders and borrowers the economy falls into a state of disarray.
There are a number of sorts of different borrowings including loans both secured and unsecured, and borrowing or credi includes loans used to buy a car or caravan , and also remortgages, mortgages, etc.
Borrowing and lending help make the world go round but when prudence is cast aside the results can be very serious for lenders as well as borrowers.
It was the fact that lenders threw caution to the wind before the credit crunch which caused the recession, with loans and all sorts of credit granted fat too easily without the proper checks being made to ascertain that the credit applicant , both commercially or privately could afford to repay their borrowings.
It was a financial free for all which left many dealing badly with debt that they soon found was beyond their means.
Before the recession they were unable to resist buying a property that was far too expensiive for them , but they were given a mortgage based on a self certification of their earnings, and they provided a self cert. for the car loan.
Now several years down the line this lack of common sense borrowing has come home to roast and the borrower is finding it impossible to handle all the repayments.
However there is one good debt solution available which will remedy the debt problem and this is by arranging debt consolidation which is the combining of all credit card debts, outstanding debts on personal loans, etc. into the one payment,
Debt consolidation is best arranged by secured loans at from 9% and remortgages from only 1.84% and it is therefore obvious how much can be saved.
by: Nigel Meedon
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