BAD CREDIT CASH LOANS AND FINANCING: Unique Content Article: Plain Talk About Remortgages And Secured Loans

Plain Talk About Remortgages And Secured Loans

by Molly Guthrie

Certainly there many distinct similarities between remortgages and secured loans as well as there being some distinct differences.

The major thing that makes them similar , is the fact that they are both connected to property, and it is the equity on a property that is they have in common.

Another name for secured loans is homeowner loans because only people who own their home are able to apply.

What equity means is what is left when the outstanding mortgage is taken away from what the property is valued at..

Up to the commencement of 2007 secured loans were granted at 25% more than the value of the property and this was called the 125% equity plan.The maximum secured loan is now available up to 85% for employed borrowers and 75% for those who are self employed..

Before the credit crunch It was possible to obtain a remortgages and mortgages of 100% and The Northern Rock gave remortgages and mortgages of up to 125%.

All the criteria is so different these days but the LTV for remortgages is less strict than that for secured loans as now some mortgage lenders are offering mortgages and remortgages up to 90% LTV.

Self certifications of income were accepted for self employed people for both a remortgage and a (http://www.championfinance.com) secured loan but things are all so very different now.

For some time no lender accepted self certs for either homeowner loans or remortgages but this has altered in favour of secured loans

Both remortgages and secured loans have a huge number of uses from going on holiday, etc. and they are both good ways of carrying out debt consolidation.

There are strict rules relating to these self employed loans and for example they are only available at a maximum 60% loan to value, and the biggest loan is only 30,000. The applicant must also provide three months bank statements to show that there is income being produced..

A very importnt fact that secured loans and remortgages have in common is their many uses including paying for holidays and they both make good debt consolidation loans. - 41115

Looking to find the best deal on (http://www.championfinance.com) debt consolidation loans, then visit www.championfinance.com to find the best deal on a (http://www.championfinance.com/remortgages.htm) remortgage for you.
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New Unique Article!

Title: Plain Talk About Remortgages And Secured Loans
Author: Molly Guthrie
Email: championfinance@aol.com
Keywords: secured loans,homeowner loans,refinancing,debt consolidation,mortgage,remortgage,finance,loans
Word Count: 348
Category: Finance:Debt Consolidation
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