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These types of loans are very popular due to the extended benefits associated with them generally including lower interest rates and more flexible repayment terms Often referred to as Secured loans, 2nd Mortgages or 2nd Charges. Homeowner loans can be offered to those applicants who own their property. The loan itself is secured as a charge against your property and does not affect your existing 1st Mortgage. With a homeowner loan, you can keep your current 1st mortgage, so there is no need to remortgage, incurring solicitor, valuation fees and other costs in order to realise the equity in your home. Homeowner loans usually have a lower rate of interest than unsecured loans. Interest rates for homeowner loans will depend on how much you want to borrow, the repayment period and your financial circumstances, such as your credit record including any mortgage arrears and CCJs, proof of income and employment status. Homeowner loans can be used for any legal purpose, you choose! Complete the home improvements you have promised yourself, purchase the dream car or holiday you have always wanted or even consolidate existing debts, including Loans, HP, Credit Cards, Store Cards and overdrafts giving you extra cash to spend each month. The choice is yours! Loans from £5000 upwards Faster Finance deals with lenders who specialise in various areas, for more information please contact an advisor at Riversdale Mortgage Services Ltd.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. |
