Whenever homeowners come to a point that he wants extra sums of money he must decide the best way to obtain the money he wants whether it is to buy a motor home, carry out home improvements, etc.
There are two very good methods for homeowners to obtain funds no matter what the funds are needed for..
Sometimes these can be used even when you do not need any extra money and what we mean is debt consolidation
The methods of raising funds we are meaning are remortgages and secured loans which are both homeowner loans secured on the equity of property.
The first thing that is good as regards secured loans and remortgages is the fact that they have good rates of interest and secured loans have rates from about 9% and remortgages have rates that begin at less than 2%
Another aspect that is very handy is that they have so many uses from paying school fees. going on holiday, buying a motor home, etc.. Actually anything that you could possibly want can be paid for by these ways of borrowing..
Another good aspect is due to the fact that they can be repaid over a period of twenty five years meaning that most can afford the repayments.
Most homeowner can make an application for a secured loan or remortgage and those in employment need three recent wage slips with their application..
Self employed remortgage applicants must now provide accounts which is different from in the past.
There is now a secured loan lender granting self employed loans at 60% LTV on a self declaration of earnings as long as the borrower has been trading for at least six months.
Self employed homeowners with accounts or an accountants letter can obtain secured loans at up to 75% LTV
Want to find out more about consolidation loans, then visit Champion Finance’s site on how to choose the best debt advice for your needs.