Enjoy The Best Things In Life With A Secured Loan.

A secured loan, which is a loan only available to homeowners as it must be secured on property

, is a good way for a homeowner to raise funds for a number of purposes.

The interest rates for a secured loan currently commence at about 9% for employed applicants with a good credit rating.

However even for applicants with poor payment profiles a secured loan is still possible but the interst rate will be considerably higher.

For the self employed the position, as regards a secured loan, is very different now than it was before the credit crunch.

In the past self employed borrowers could self declare their own earnings without any further proof being required.

They had simply to write on a letter head that they certified that their net profit was whatever, sign it and that sufficed.

Now an accountant's letter at least is a requisite and sometimes the lender will ask for full accounts.

For people who fit the current undederwriting,secured loans are a great way to borrow money.

Apart from the interest rates being good, they can be repaid over anything from a five year to a twenty five year period making the repayments taylor made to suit individual needs.

They can be used for almost any legitimate purpose, but many people do not appear to realize this.

Some people are lead to believe that a secured loan has only one use and that is for debt consolidation.

They are certainly a good way to consolidate outgoings on credit cards, etc., saving money and simplifying finances, but they have many more uses than this.

A secured loan can be used to buy a car, a caravan, a motor home, a boat, etc. etc.

It can also be used to carry out home improvements, and with cash in hand there are savings to be made by funding improvements in this way.

Homeowner loans have so many uses such as paying for the longed for wedding on a magical tropical beach, going to see the premiere of your fvourite film star's latest film in a far away foreign city,.

A secured loan can be used to buy your holiday home abroad.

Some lenders are not prepared to grant loans for second home purchase, and so it is always best to check before applying that the purpose of the loan is not against that particular lenders rules.

Paying for a holiday home in the UK or abroad is simple when a loan of this sort is used to fund it.

Using a secured loan to buy a second home means that there is no need to have a deposit of about 30%.

With so many property bargains in the market at the moment there will never be a better opportunity to buy a second home whatever country you wish to buy in.

There are many Brits selling up in the Spanish Costas and if Spain is your country of choice this is a good time to realize your dream.

As is obvious the better things in life are available to those who release some equity in their property to make life more enjoyable.

by: Liz Moir

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