There is possibly no such person as the one who does not want some extra funds sometimes , and when this is so the first decision must be about the best means of raising this money.
There are a number of matters to be considered, and one of the main one is the interest rates for the loan, in addition on how long it will take to get the loan funds and so on..
There are loans which are known as personal loans which.as the name suggests ,are unsecured loans granted to an individual , and due to the fact these loans need no security of any kind they are available both to tenants as well as to those who own their home.
One big disadvantage of this means of borrowing is that only those with a perfect credit file have any chance of being granted these unsecured loans and even in times when loans were easier to obtain, the highest value for an unsecured loan was 15,000 at the most.
When someone wishes to carry out home improvements, and they need a loan for this purpose, they can arrange the loan with the building firm , but the trouble here is is that the interest rate is about 25% which is very high..
Tenants have no choice than to apply for these loans when they want to borrow. Homeowners however on the other hand, need not give these expensive means of borrowing the time of day, as they can apply a remortgage or if they prefer secured loans when they need to borrow for any number of reasons.
Secured loans and remortgages are both very cheap ways of funding home improvements, as their interest rates begin from about 9% to less than 2%, depending on equity, respectively.
Secured loans and remortgages are not only suitable for home improvements but are suitable for almost anything including paying university fees for your children , paying for holidays , and they are great as debt consolidation loans.
Unlike unsecured loans, secured loans are available up to 100,000 or higher with some lenders, and the sum for remortgages has no limit as it all depends on how much equity there is and what the borrower earns.
There are a number of matters to be considered, and one of the main one is the interest rates for the loan, in addition on how long it will take to get the loan funds and so on..
There are loans which are known as personal loans which.as the name suggests ,are unsecured loans granted to an individual , and due to the fact these loans need no security of any kind they are available both to tenants as well as to those who own their home.
One big disadvantage of this means of borrowing is that only those with a perfect credit file have any chance of being granted these unsecured loans and even in times when loans were easier to obtain, the highest value for an unsecured loan was 15,000 at the most.
When someone wishes to carry out home improvements, and they need a loan for this purpose, they can arrange the loan with the building firm , but the trouble here is is that the interest rate is about 25% which is very high..
Tenants have no choice than to apply for these loans when they want to borrow. Homeowners however on the other hand, need not give these expensive means of borrowing the time of day, as they can apply a remortgage or if they prefer secured loans when they need to borrow for any number of reasons.
Secured loans and remortgages are both very cheap ways of funding home improvements, as their interest rates begin from about 9% to less than 2%, depending on equity, respectively.
Secured loans and remortgages are not only suitable for home improvements but are suitable for almost anything including paying university fees for your children , paying for holidays , and they are great as debt consolidation loans.
Unlike unsecured loans, secured loans are available up to 100,000 or higher with some lenders, and the sum for remortgages has no limit as it all depends on how much equity there is and what the borrower earns.
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