Loans Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Secured Loans Guide


Secured loans are becoming increasingly popular due to their flexibility. Basically, a secured loan is one for which you provide some form of collateral in order to cover the amount borrowed in the loan. A secured loan is a loan on which you as the borrower have provided the lender some kind of security for the money borrowed.

With a secured loan, the money that you borrow is secured against all or some of your assets, specifically an item of property that you can prove that you own as insurance for the lender against defaults or non-payment of instalments.

A secured loan is secured against your home to act as security to the Lender for the money you have borrowed. A secured loan is often referred to as a homeowner loan. Secured loans are an ideal solution for homeowners who have recently been refused a personal loan or for home owners wanting to borrow a larger loan amount.

It is a bank loan designed exclusively for home owners which uses the net value of their property as security for the loan. As a result of inflation and part repayment of mortgages many home owners have a property which is worth far more than the mortgage they owe on it. A secured loan enables you to make use of this asset by providing security for your loan, whether you own a house, flat, bungalow or cottage.

Being a home owner affords you better status in the eyes of lenders. This makes it possible for home owners to obtain excellent interest rates. A secured loan usually has a much lower interest rate than an unsecured loan. You do not even have to have any equity in your property, some lenders will lend up to 125% of the value of the property.

It also means that you can get a loan if you've had past credit problems such as CCJ's, are self employed, or have no proof of income. Even if you have a bad credit history such as CCJ's, mortgage arrears or payment defaults, you can obtain a secured loan although the rate of interest you pay will be higher than if you had an unblemished credit history.

A secured loan puts cash in your pocket and is an extremely flexible facility which enables you to choose the sum you wish to borrow at a repayment you feel able to manage comfortably.

With a Secured Loan you can borrow from 5,000 to 75,000 with low monthly repayments. Secured Loans secured on property can be repaid over a period of between 5 years and 25 years .

Secured loans can be used for any purpose, there are no restrictions. Maybe you need to reduce your monthly outgoings by paying off all your debts, leaving you with one lower and more manageable monthly repayment. Or perhaps you would like to buy a new car, boat or caravan. What about new windows, conservatory or maybe an extension? It really is up to you.

One of the advantages of secured loans is that they are generally straightforward and therefore quick to arrange, often within a few weeks. As the lender is securing the loan against your property as collateral, it means you don't have to sell up or move house.

In the event that you cannot repay the loan and you default on it, the lender then has the right to force you to sell this collateral in order to recover the money that you owe to them. The collateral is usually a house or other property.

You may freely reprint this article provided the author's biography remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Student Loan Hero (blog)

How to Deduct Home Improvement Loan Interest on Your Taxes
Student Loan Hero (blog)
“The short answer is yes, you can deduct loan interest from a home improvement loan on your taxes,” said Joshua Escalante Troesh, a financial planner with Purposeful Strategic Partners. “However, there are limitations on how you use the money, thanks ...



HuffPost

I Couldn't Afford To Pay My Student Loans. Then I Received A ...
HuffPost
Mark Wragg via Getty Images Why is it, in a day and age when more and more brown and black people are accessing higher education, that a bachelor's degree ...

and more »


Forbes

How To Save $1,000 On Your Student Loans - Forbes
Forbes
This one student loan hack will get you there. Here's what you need to know and how to start saving. Student Loan Debt: Overview. If you are one of more than ...
Consumer Debt Outlook for June 2018 | LendingTreeLending Tree

all 12 news articles »


The Hill

Bill to protect work licenses of student loan debtors is welcome development
The Hill
Americans owe nearly $1.5 trillion in student loans, with the average borrower owing around $30,000. Unfortunately, because of a number of factors, about 5 million Americans are in default on those loans. Worse still, a perverse policy underlying many ...



Forbes

Nonsensical State Laws Yank Licenses From Student Loan Defaulters
Forbes
State governments do many silly things. Writing in USA Today, Jarrett Dieterle and Shoshana Weissmann bring attention to one of the absolute silliest: in 18 states, workers can have their professional licenses revoked if they default on their student ...



WWD

Fitch Ratings Eyes Commercial Loans of Troubled 'B' Malls
WWD
Are "B" malls really in trouble? In its most recent "loans of concern" report, Fitch Ratings said three-fourths of the rated commercial mortgage-backed securities, or CMBS, that are classified as 2.0 have a negative rating outlook and are "tied to ...



Nasdaq

Exclusive: Piraeus Bank to unload bad loans pool to APS
Reuters
ATHENS (Reuters) - Piraeus Bank (BOPr.AT), Greece's largest lender by assets, has agreed to sell a 400 million euro pool of soured, unsecured consumer loans to distressed debt specialist APS Holdings, bankers close to the transaction told Reuters on ...
-Piraeus Bank to unload bad loans pool to APSNasdaq
Piraeus Bank agrees to sell bad loans pool to APSwww.ekathimerini.com

all 8 news articles »


Reuters

EU lawmakers face opposition to softening bank rules on bad loans
Reuters
LUXEMBOURG (Reuters) - A vote by European Union lawmakers to soften capital rules for banks that offload large amounts of bad loans is meeting resistance and could be ditched, officials said, in what would be a blow to Italian lenders profiting from ...

and more »


Bloomberg

Steinhoff Africa, Brait Charge Investors for Manager Loans
Bloomberg
Last month STAR, as Steinhoff Africa is known, told investors it put aside 440 million rand ($32 million) to pay back the loans of 44 Pepkor managers, many of whom bought stakes in the then-closely held company. Those shares were converted into ...



The MReport

Why Citigroup's Loan Portfolio Is Growing Faster Than Its Peers'
Forbes
Citigroup reported an increase in its total loan portfolio from $623 billion in Q1 2017 to $668 billion in Q1 2018 – a jump of 7.2%. This compares with the average loan growth figure of 4.7% across the U.S. banking industry over this period. With the ...
Stress Tests: How Will Mortgage Loans Impact Bank Losses?The MReport

all 4 news articles »

Google News

home | site map
TIGER MEDIA© 2006