subject: Make A Move To Apply For A Remortgage Or A Secured Loan To Use As Consolidation Loans [print this page] In the country at the present there are a lot of people who want to apply for a remortgage, a secured loan, often called a homeowner loan, or a mortgage but they are not doing so , and are simply sitting back.
Mortgages are the finance required for buying property, and almost every single individual needs a mortgage as individuals who can afford to buy a home out right out of their bank account are in the minority and particularly when you consider that the average cost of a property in this country is almost 170,000.
People all require a mortgage whether they are buying the first property when they are getting married or whether they are already homeowners who want to move for any manner of reasons such as wanting a bigger home as their new salary will be able to afford larger mortgage payments.
Remortgages have also like mortgages fallen in demand
Remortgages, unlike mortgages, are only for those who already own their own property as a remortgage involves moving an existing mortgage from one mortgage provider to a new one..
Many homeowners take out a remortgage when their current mortgage tie in period finishes as they can often get a better deal and as rates for remortgages are currently very low this is the right time for those coming to the end of their tie in period to get a good quotation for a remortgage
However a remortgage can be taken out to raise extra funds for a number of different reasons just as secured loans can be. A secured loan is a second charge on a property and it is recorded at the Land Registry behind the first mortgage and this is why these homeowner loans are also sometimes referred to as second mortgages.
A remortgages or a secured loan can be used to buy a car, to carry out home improvements. etc. etc. and also make excellent debt consolidation loans.
What has lead to the decline in applications for remortgages, secured loans and mortgages is the fact that for some strange and untrue reason many people believe that there are no home loan funds available which is totally incorrect.
There is no shortage of funds for mortgages, remortgages and secured loans waiting for applicants to apply for them, and people should hurry to obtain a quotation.
by: Carol George
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