Secured Loan Blog » home loan

How Can Your Home Equity Help You Plan For Retirement?

admin — Tue, 20 Apr 2010 14:49:28 +0000

If you think it is time to plan for your retirement it might be worth talking to a mortgage broker about your largest asset – your home.

None of us are getting any younger, and these tough economic times have just hammered home the fact that we all need to set provisions aside for our later years – and thankfully it is happening. Legal & General says almost one in three people say they’re thinking of saving for retirement.

Claire Evans, L&G unit trusts marketing director says: “It is encouraging to see such a healthy rise this year in the number of people thinking about saving for their long-term retirement income, particularly in the younger age groups.

“We all appreciate the importance of starting saving as early as possible. I can’t stress highly enough that the sooner we start saving the better.”

So if you want to work out what to do with all your assets, talk to a mortgage adviser about your largest asset. While you may need to set aside money for a pension, you need to discuss your options when it comes to your home’s equity.

In years to come it might be necessary to unlock some of that wealth or even downsize your property – but it’s good to get an idea of what could be today.

SOURCE: L&G, 12/04/10

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

Unsecured Debt Still Pricey – Stick To Secured Lending

admin — Fri, 05 Feb 2010 15:51:33 +0000

Thanks to the continuing tough economic climate, the focus in all lending activity is risk and as a result unsecured personal loans have seen some of the sharpest increases of recent times.

In fact, personal loan rates stand at a nine year high, according to Moneyfacts. Lenders are unhappy to offer money to people with no security. On the other hand, lenders are still offering money to people who are able to afford to secure debt against their home, safely.

Michelle Slade, analyst for Moneyfacts says: “Unlike on a mortgage, there is no security that a personal loan debt will be repaid. In such a risk adverse market, lenders are only offering loans to the most creditworthy applicants and then at a premium.”

The website says there is now a £1,055 difference between the cheapest and most expensive £5,000 personal loan – for those people who are unable to secure the cheapest deal, that’s expensive money indeed.

Andrew Hagger of Moneynet.co.uk says: “With banks and building societies still adopting a far more cautious stance even when it comes to mortgage lending, even with your property as collateral, it’s no surprise that the appetite for unsecured lending has pretty much dried up.”

If you want affordable loans, you need security in 2010, and that is only possible with a secured loan or a mortgage. Talk to a secured finance specialist about your ability to use your home as a means of getting hold of cheaper credit.

SOURCE: Moneyfacts, Moneynet, 01/02/10

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

Refinance Home Loan | Is It The Right Time?

admin — Tue, 23 Sep 2008 07:53:33 +0000

How do you know when it is the best time to be looking into a refinance home loan? Are you in the right situation to be able to refinance an existing loan with a new home loan? The only person who can answer that fully is a trained and trusted adviser, but there are some situations where a refinance home loan would be the best option to consider alleviating debt worries. A refinance home loan can be a simple process for any homeowner and could be the answer to your financial problems, but only if its done right with the right advice.

Features and Benefits of a Home loan

admin — Thu, 07 Aug 2008 10:37:24 +0000

A home loan could help somebody who is already a homeowner – even if they are still paying off their mortgage – who needs to borrow some extra cash. If you are already on the property ladder, and want to free up some additional funds but don’t want to remortgage your house, then a home loan could be right for you. Also known as a secured loan, or a second charge loan, because it is the second debt to be registered on your property after your mortgage, a home loan is becomingly an increasingly common tool to help homeowners manage their finances.

Learn more about the Home Loan

Equity Home Loan – The Alternative Secured Loan?

admin — Wed, 09 Jul 2008 07:41:42 +0000

Are you considering taking out an equity home loan? If so, we can answer some of the questions you may have. Not to be confused with equity release schemes, which are designed to help elderly borrowers release some of the equity in their home, an equity home loan is basically just a loan which any UK homeowner looking to borrow some extra cash may benefit from. From what the loans can be used for, to who is eligible, read on for the information that could help you make a decision.

Learn more about the Equity Home Loan