Looking for a home loan to fund improvements to your home?
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Home Loans & Mortgages - Info and Best Buys
With large sums of money, borrowing money to spend on your hobbies, existing debt, holidays etc can be an expensive affair, especially if you get the wrong deal. The pages on this site aim to help you in finding the best possible deal when borrowing using the equity in your home.
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There are various ways of funding home improvement projects and other expensive purchases or debt consolidation and we'll discuss all of them here. Not only is it vital to select the right funding option but the company you deal with, the timing of the release of funds and flexibility in repaying the money are all important considerations. More home loans >>>
Realising that your mortgage repayments could jump by as much as 40% would come as a nasty shock, but the situation being faced by thousands of people whose fixed rate mortgage deals are coming to an end. With interest rates higher now than 2 years ago, many people are being forced to move to higher rates on their home loans. More Remortgaging >>>
Using Your Equity
One of the benefits of borrowing money using your equity (otherwise known as ‘securing’ your loan using equity) is the security it gives the home loan lender as the property acts as collateral. You can't disappear with your home or hide it if god forbid the lender needs to recover funds from you! And of course if your home is acting as security against a loan, you are likely to make repayments more of a priority. For these reasons secured loans are often obtainable at better rates of interest than other personal loans and the amounts available could be higher. Another factor is that people with a less than perfect credit history could qualify for debt consolidation loans, secured loans or mortgages, where they would not qualify for other types of lending.
Home Finance Fees
A recent trend in home finance circles is for companies to bump up their profit margins, while still making deal look attractive, by adding costly fees or admin charges to their loans. Fees can now amount to several thousand pounds, so it's important to consider the full picture before selecting your next home finance arrangement.
Remortgaging to raise funds
This is often seen as the easiest way to raise funds for existing mortgage payers the situation can very quickly become more complicated than you expect. Do you borrow new money by extending your existing mortgage? Do you remortgage the whole amount with your existing lender or do you look at the whole market for a new lender? Do you take out debt consolidation loans with bad credit or a second charge or secured loan with a new lender? As you see there are various options which we'll discuss in more detail. More remortgages >>>
UK House Prices
If you are looking to raise extra money against the value of your home through a remortgage or loan then you'll be interested in the future of UK house prices. The daily newspapers frequently carry headline articles about the state of UK housing market, but it is important to consider long-term trends rather than short-term scare stories. Even though many observers expect house price growth to slow down over the next few years, many would still agree that property is still one of the safest forms of investment.More house prices >>>
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