With the recent news that equity in UK homes is finally growing again, now is the time to make sure that you are saving all you can, ready for the future.

Nationwide building society has revealed that house prices increased by 1.3% over the last month. Although this is great news, especially after it revealed that house prices increased by 1% last month, prices are still down 6.3% on last year’s figures.

This means that there is still less equity in UK properties, and there is less room for people to get hold of secured credit. Right now the secured loan market is in the doldrums, remortgages are down and equity release is also stalling.

So it is still time to save, rather than spend. By doing all your can to reinvest into your home and reduce your unsecured outgoings, you can be sure that when house prices begin to rise again, yours will be amongst the most profitable. All that you can do now to keep yourself in positive equity means that you will have more spending, borrowing and saving potential in the future.

Talk to a mortgage adviser about how your equity and your mortgage is faring. It’s good to know what your limitations are and what sort of potential your money and your investments have, now and in a few year’s time.

SOURCE: Nationwide, 30/07/09

To keep up with the latest news and comments on current financial affairs please visit the Secured Loan Blog.

Related posts:

1. The Negative Equity Trap
2. Don”t Fear Negative Equity
3. The Need for More Equity
4. Elderly Have More Than Half A Trillion In Equity
5. More Retirees Need Equity Release