Homeowner loans - A preferential treatment
- Date: 2007-08-17 - Word Count: 364
Share This!
Do you want low cost loans that are easily available in the financial market? Well, it is quite possible if you are a homeowner. All you are required to do is to pledge your home with the lender and get a hefty loan amount. The rate of interest starts from 6.5 percent and goes on increasing as per your individual circumstances. The rate is high if you have a bad credit history.
The primary concern of any lender is to get back his money along with interest. With this objective, some lenders require you to put your home as a security against the loan amount. Such loans are called homeowner loans since only the homeowners can fulfil this condition. In return, the lenders give such borrowers a preferential treatment. Homeowners are given preference over tenants especially when it comes to applicable rate of interest and flexibility in repayment.
Homeowner loans are suitable if your financial requirement is big. Tenants won't be able to get higher amounts as loan but homeowners can get up to £250,000. Similarly, homeowners get flexibility in repayment terms as well. The repayment period in case of homeowner loans stretches up to 25 years. However, a longer repayment period also means that you will have to pay larger amount of interest.
The current property market in the UK also confers some benefits on the homeowners. The prices in the home segment have increased by three times in the last one decade. Obviously, it means more equity available to an average homeowner. The higher the equity in your home, the higher will be the loan amount that you are eligible to get. This is precisely the reason why homeowner loans can be a source of big funds. Normally, you can get up to 80 per cent of the equity in your home as loan. Some lenders may allow you more depending upon your individual circumstances and their own policies.
About the Author: She is a business writer specialising in the UK loan market.She has been writing informative articles featuring on fast loans for Online Unsecured Loans.Click on Make your home your key to your dreams to get more information about homeowner loans
The primary concern of any lender is to get back his money along with interest. With this objective, some lenders require you to put your home as a security against the loan amount. Such loans are called homeowner loans since only the homeowners can fulfil this condition. In return, the lenders give such borrowers a preferential treatment. Homeowners are given preference over tenants especially when it comes to applicable rate of interest and flexibility in repayment.
Homeowner loans are suitable if your financial requirement is big. Tenants won't be able to get higher amounts as loan but homeowners can get up to £250,000. Similarly, homeowners get flexibility in repayment terms as well. The repayment period in case of homeowner loans stretches up to 25 years. However, a longer repayment period also means that you will have to pay larger amount of interest.
The current property market in the UK also confers some benefits on the homeowners. The prices in the home segment have increased by three times in the last one decade. Obviously, it means more equity available to an average homeowner. The higher the equity in your home, the higher will be the loan amount that you are eligible to get. This is precisely the reason why homeowner loans can be a source of big funds. Normally, you can get up to 80 per cent of the equity in your home as loan. Some lenders may allow you more depending upon your individual circumstances and their own policies.
About the Author: She is a business writer specialising in the UK loan market.She has been writing informative articles featuring on fast loans for Online Unsecured Loans.Click on Make your home your key to your dreams to get more information about homeowner loans
Related Tags: homeowner loans, unsecured homeowner loans
Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are