Earlier this month a report was released that indicated that almost a quarter of all homeowners in the UK were unable to find a new home loan deal. (more…)
Posts Tagged ‘homeowners’
Almost 25 percent of homeowners cannot get a new mortgage loan
Monday, July 27th, 2009
Struggling Wiltshire homeowners now have help at hand
Wednesday, July 8th, 2009According to a recent report a new scheme has been rolled out across Wiltshire to try and help the many struggling homeowners in the area that could be at risk of losing their homes through repossession. (more…)
£8 billion of mortgage debt paid off by UK homeowners
Monday, April 27th, 2009According to recently released figures homeowners in the UK have reduced their overall mortgage debt by an impressive £8 billion, even though the financial crisis continues and the country is plunged into recession. (more…)
Over a million in negative equity
Sunday, March 8th, 2009Recently released figures have suggested that the fall in house prices has now resulted in over one million homeowners being plunged into negative equity. (more…)
Analysts predict a greater number of repossessions this year
Thursday, March 5th, 2009Last year the Council of Mortgage Lenders predicted that the number of repossessions in the UK could reach as many as 75,000 over the course of this year, which is a worrying figure in itself. (more…)
Increasing Numbers of Home Repossessions
Saturday, February 28th, 2009With the downturn in the economy that has thrown markets all over the world into a slump in recent months, the number of homes being repossessed by lenders is increasing at a rapid pace. (more…)
Could struggling homeowners get help due to new regulations?
Tuesday, November 4th, 2008Over the past year many homeowners have lost their homes to repossession as a result of falling behind on mortgage repayments as credit conditions have become more difficult and living costs have soared. With the financial markets and the housing markets in their worst state in decades the government has decided to take action and try and help struggling homeowners by bringing in new regulations relating to repossessions by lenders. (more…)
More help to be offered to homeowners facing repossession
Monday, June 2nd, 2008There have been some very worrying reports over recent months about the level of repossessions expected in the UK. According to recent reports the number of people facing repossession has risen by 20% in the past year, and the Council of Mortgage Lenders recently announced that the number of people that lose their homes through repossession could rocket to 53,000 over the course of this year – a stark increase compared to its original prediction of around 45,000. (more…)
Financial difficulties loom for homeowners
Friday, April 11th, 2008Homeowners, many of whom are already struggling to try and keep up with mortgage repayments despite the recent interest rate cuts, are facing a real struggle when it comes to coping with their finances according to a recent report, with many expecting to face difficulties in coping financially due to strained household finances. The report suggests that millions of homeowners could find it increasingly difficult to cope financially due to a number of factors. (more…)
Are you a homeowner on an IVA programme?
Wednesday, March 19th, 2008Awareness over Individual Voluntary Arrangements, or IVAs, has increased over the last couple of years, with a number of firms putting out advertisements relating to this type of debt solution. An IVA is known as a softer alternative to bankruptcy and is designed to help those in high levels of unsecured debt to get out of debt more quickly. (more…)
Is A Secured Loan The Right Choice?
Sunday, March 2nd, 2008Secured loans are loans that are aimed at homeowners with some level of equity in their homes. Equity is the difference between the market value of your property and the amount that you owe on the property by way of mortgage or other secured loans. Unlike an unsecured loan these loans are secured against the home, and this why you need to be a homeowner in order to be eligible for a secured loan. There are a number of lenders that are able to offer this type of loan, and you need to compare a range of loans from a number of lenders to ensure that you get the best deal possible on your borrowing. (more…)
IVA homeowners face soaring interest rates
Saturday, March 1st, 2008Homeowners that have entered into an IVA, or Individual Voluntary Arrangement, could face soaring interest charges on their mortgage as the result of a clause in the agreement that requires them to use the equity in their home to put towards their debts. An IVA is known as a softer alternative to bankruptcy, and those entering into this sort of agreement pay a set amount per month for a period of five years after which the remainder of the debt is written off. (more…)
Home sellers struggling to sell their properties
Tuesday, February 26th, 2008According to industry professionals many homeowners with their properties up for sale are now struggling to actually find a buyer for their home because they are refusing to be flexible on price. A flurry of homeowners are trying to sell up before the property price fall that has been predicted comes to fruition, but because they are being stubborn on their asking prices overstretched buyers are struggling to afford to buy. This is resulting in longer timescales when it comes to selling homes, and more properties clogging up estate agency books. (more…)
What can you use a secured loan for?
Monday, February 25th, 2008A secured loan is a loan that is secured against the equity in a property, and as the name suggests, these loans are available to homeowners with some level of equity in their property. With equity levels rising at remarkable levels over recent years, as property prices have rocketed in the UK, homeowners have found themselves sitting on a tidy nest egg when it comes to their equity, and homeowner loans are a great way of unlocking the equity in your home without having to sell up first.
There are many benefits to taking out a secured homeowner loan. These loans are often available to those with bad credit who cannot get unsecured finance, making them accessible to more people or for applicants wishing to borrow over £20,000. You will find that based on the level of equity that you have in your home the borrowing power with a homeowner loan compared with an unsecured loan can be far greater. Also, the repayment periods with homeowner loans are longer, which means that you can spread your repayments over a longer period and enjoy lower monthly repayments.
You will find a number of lenders that offer secured loans, and both the eligibility requirements and the terms and conditions can vary from lender to lender. It is important that you compare different homeowner loans from a number of lenders in order to get the best deal and the most suitable loan for your needs. You should compare the interest rate to ensure that you get a competitive rate of interest, although you should remember that if you have a bad credit rating the interest rate that you get is likely to be significantly higher than for those with good credit.
You can use a secured homeowner loan for all sorts of purposes, making this both an affordable and a flexible way of borrowing money against your home. You can use the cash to improve your home with new fixtures and fitting or simply a decorative facelift. You may want to reduce your monthly outgoings and make financial management easier by paying off al of your smaller, lower interest debts, so you could also use your homeowner loan for debt consolidation, leaving you with just one lower interest loan to pay rather than a number of higher interest debts.
You may be considering treating yourself to the trip of a lifetime, whether it is backpacking around Europe or exploring far flung destinations, and a homeowner loan provides an effective way of raising the money to fund this type of trip, so you won’t have to miss out on seeing the world simply due to a lack of finances. You may be looking for ways to fund a dream wedding either for yourself or for a child who is getting hitched, and again these loans provide an effective way to pay for this type of event.
There are many other things that you can use our secured homeowner loan for, from buying a new car to paying for an education. By comparing different homeowner loans and finding a low rate loan you can enjoy value for money on your borrowing and you can untie the equity in your home without having to worry about selling up and moving on.