Secured Loans - Charge You Less
Debt Consolidation
Home improvements
Medical bills
Educational expenses
Holidays and vacations
Buying assets like land, car etc.
What is equity?
In case of secured loans, the greater equity you have in your home, greater is the amount you can procure. To define, equity is the difference between the market value of the borrower's home and the claims held against it. These claims may include mortgages and other debts running against the home. In simple words, Equity is equal to the funds you have invested in the home in order to own or improve it minus the debts/mortgages running against the home. Procuring a secured loan may seem a risky offer because of the involvement of the home, but the benefits of secured personal loans are far greater than the magnitude of the risk involved in the loan deal.
Interest rate type
Secured personal loans give freedom to the borrower in deciding the type of interest rate that he likes. Secured loans can be taken on any of the following rates of interest. Fixed Rate - The rate of interest remains the same for a certain period. So, the monthly instalments are fixed, irrespective of the changes in the base rate decided by the Bank of England.
Flexible Rate - The rate changes as per the changes in the base rate. This is also referred to as variable rate of interest.
Capped Rate - In this case, the lender decides a particular rate. If the base rate decreases, the borrower will pay less accordingly but if the base rate increases, the borrower won't be liable to pay more.
So, secured loans come with an array of advantages
Related Tags: secured loans, car loans, secured holiday loans, online business loans, secured business loans uk
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting loans-park, as a finance specialist. For more information about secured loans please visit http://www.loans-park.co.uk
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Personal Finance & The Needed Momentum
Possession of personal cash flow plan and the dream of having financial freedom might make it harder - Need An Ebt Card Or Food Stamps?
Applying for food stamps can be a very overwhelming and embarrassing task. Knowing what to expect th - Quick Money Loans What You Should Know
If you are looking for a quick money loan there are a few sources available, and just like any other - Same Day Cash Loans - Quick Help When Fiscal Requirements Force You
Life of human being is completely dependent on cash that establishes the life of one comfortable or - Unemployed Loans - Don't Accept Debacle Against Fiscal Requirements
In today's time, what imperative complication is increasing at the rapid pace for people? It is the - Get A Secured Credit Card To Rebuild Your Credit
The recession has spoiled the financial plans of many. Some have maxed their credit cards out, other - Ways To Create Profitable Cfd Trading Strategies
Understanding the connection between 2 significant ratios is the key to having winning CFD trading s - Can I Save Money At An Outlet Store?
Everyone loves to know they are getting a good deal when they are shopping for something. It could b - Used Car Donation Program Worth The Cause?
Used car donation program may not be the best option for many. Before you call me selfish and Paroch - Who Controls A Business's Asset When It Files For Bankruptcy?
Individuals who wake up and find themselves knee deep in debt, with no recourse to repay the debt, h
Most viewed articles in this category:
- Proposed Changes to Bankruptcy Law in Scotland
A bill has been proposed in Holyrood, the Scottish Parliament, which would align Scotland’s ba - How To Create Your Own Emergency Fund
Do unexpected car repairs, quarterly insurance payments or unexpected medical bills find you hard pr - How To Make A Personal Budget
There are many types of budgets that people use in their daily life. For instance, there are budget - Easy Cash Loans To Meet Immediate Cash Need In The Most Convenient Way
A financial crunch can happen to anyone at anytime in life. A few years back, I was stuck in the sam - Credit Counselors Offer Advice to Avoid Debt This Christmas
The holiday season is a great time of year for most of us, but it's also a time of year when we want - Save More/Spend Less - Become a Saver not a Spender
Our personality and lifestyles affects our ability to save. Most every action we take (including tho - Saving Money In College
Have you ever found yourself eating Cheerios for dinner while sitting in your dorm thinking about ho - Seek Unsecured Loans And Avoid The Threat Of Repossession
It is quite natural that people don't want to have the threat of repossession of their property whil - Investing - Tax Shelters Equals Big Fine For KPMG
What happens when a world renowned accounting firm decides to market tax shelters to its elite clien - Teaching Kids to Save--It's More Than Just Numbers
Did you know?<b>• The fastest growing group of bankruptcy filers is those 25 and you