Low Rate secured loan

secured loan

One of the worst things that you can do in life is getting a bad credit history. If you get a bad credit history it becomes very difficult for you to get loans from any place and any bank.

I found this the hard way when I went to get a loan for my new car. It so happened that when I took out a loan for my last car I was unable to meet one of the payments and having defaulted on a single payment made me a target for the bad credit history sheeters. Imagine my plight. I was all geared up to buy myself a new car and here was the first road block that I had encountered in my entire life.

Since I was buying an additional car I could afford to wait but my wife wants things right away and unfortunately for me she can be very demanding. I was caught between a rock and hard place. Fortunately for me I found out that there are innumerable places on the net that offer hard cash loans for people with bad credit history like me and its fairly easy to get a bad credit history secured loan.

With a Bad Credit History Secured Loan I was able to buy a new car and satisfy my wife and rebuild my credit history. So all is well that ends well. Whether it is a new car or a new house or even a new lawn mower that you are planning to buy all you need is good credit history and you will be able to get it as easy as pie.

A Bad Credit History Secured Loan will give you what you need. You can get loans from as little as £50 to up to £50000. You will be able to rebuild your credit history as well. Remember that people will only give you a bad credit history loan if you are bad credit history holder at rate that will be higher than that for regular loans. This is to be expected.

For the best and fastest loans Apply online, you will get the loan that you need at the most affordable rates and with minimum hassles.



Repossession
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secured loan

Does anyone know how long it takes from the application to receipt of money for a secured loan?

Real Estate Professionals
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secured loan problem

my current discounted mortgage runs out in january 2008 and i have a loan secured on my property.i want to change my mortgage in january 2008,will i have a problem?

Sell House Quick
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secured loan

I’m thinking of getting a loan but then the question comes up as to whether I want a secured or unsecured loan? WHats the difference and which ine is more advisable to take?

Repossession
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Jun
13

Secured Loans: Common Questions, Answered

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secured loan

Secured loans can be an efficient short or long-term funding solution for UK homeowners. If you are in need of money and have equity in your property, you are eligible to apply for a secured loan. Secured loans are sometimes called “second mortgages” as they rank after your mortgage as security to the lender. Secured loans must be registered as a Charge on your property title at the Land Registry.

Why seek a secured loan rather than an unsecured loan?

The strong growth in UK house prices over recent years has meant that many homeowners have built up substantial equity in their properties. Secured loans are simply a flexible way for homeowners to release some of this equity. Compared with an unsecured loan, a secured loan has a lower interest rate as you are putting your home up as security. The lender will be very confident that the loan will be repaid. Another advantage is that secured loans offer more flexible terms of repayment than unsecured loans. For example, the loan term can be for a longer time period enabling your monthly repayments to be kept down. Secured loan terms can be from 3 to 25 years – it can sit alongside your mortgage if you wish or you can pay it off sooner. If you’re in need of a large sum of money, a secured homeowner loan can range from £5,000 up to £1 million. Unsecured loans are normally capped at £25,000.

What can I use a secured loan for?

A secured loan can be used for any purpose. A secured debt consolidation loan can help you refinance expensive debt, such as credit cards or bank overdrafts, on to a much lower interest rate. A secured home loan can be used to finance substantial home improvements to add value to your property, such as an extension or a new kitchen.

Why choose a homeowner loan rather than a remortgage?

A mortgage is your cheapest form of borrowing and if you want to raise a significant amount of money it is therefore logical that you should first consider a remortgage. However, your current mortgage may be arranged on advantageous terms or have an onerous early redemption fee. Redeeming your mortgage may just not make financial sense. In these circumstances it may be wise to leave your mortgage alone and use the flexibility of a secured loan, especially if the interest rate is only a little higher than your mortgage rate. Finally, a secured loan can be completed in less than 20 days – somewhat faster than a remortgage – and at a lower cost. Remortgaging normally requires that you pay certain fees, such as a discharge fee, a valuation fee, a title insurance fee or an administration fee.

Can I safeguard my loan or mortgage payments against unforeseen events?

You can take out payment protection against specific events, such as unemployment, sickness or disability through Payment Protection Insurance (PPI). Remember that PPI is not always suitable for your individual circumstances and independent advice should always be sought before buying this product. Should the insured event take place, the policy will cover your payments for a fixed period of time, such as 12 months. You should also consider buying sufficient life assurance such that in the event of the death of the household’s main bread-winner, the loan or mortgage will be paid off by the insurance company.

How can I apply for a secured loan?

You have the choice of going direct to the lender or going to an intermediary, usually a finance broker. If you have shopped around and know what you want, you can apply direct to the lender via phone, internet, post or walk into their branch office. If you prefer to seek the advice of a finance broker you may benefit from their expertise in deciding what product and which lender is most suitable for you. This will be particularly true if your circumstances are unusual and you require a specialist product. It is also possible that a finance broker can find you a better deal as some products are only available through intermediaries.

How long does the secured loan application process take?

Depending on circumstances and personal needs, you may obtain a secured loan within 2-4 weeks. But, of course, each case is different. Normally, the consent of the first mortgage lender is required to register the secured loan on your property title and so the lender is unlikely to proceed before consent is obtained.

What factors may negatively influence the secured loan application?

When you apply for a loan it is normal that you will be asked to consent to a search at a Credit Reference Agency, such as Experian or Equifax. The purpose is to avoid fraud and for the lender to assess your credit worthiness. Some factors may have an adverse effect on the secured loan application, such as:



Bankruptcy or Individual Voluntary Arrangement

Low income or self-certification of income

Mortgage or rental arrears

Frequent job changes

Frequent address changes

High indebtedness

Court judgments



But even with a poor credit record, you have a good chance of obtaining a secured loan providing you have plenty of equity in your property. However, you may be asked to pay a higher interest rate if your credit score is low.

Is it important to seek independent, impartial advice?

There are literally thousands of loan and mortgage products available. As we only tend to purchase financial products infrequently, you will not know which products are available or suitable without a serious research effort. For this reason, we believe that most people should seek independent, impartial advice, especially as mortgages and secured loans normally represent a substantial commitment. This should not cost you any more as the advisor is normally paid directly by the lender.

What are the drawbacks of a secured loan?

Although there are many benefits of a secured loan, there are some drawbacks that should be mentioned. In cases where a borrower fails to repay a loan, the property could be taken into possession and sold. Borrowers can also be tempted to borrow large sums for long periods without appreciating the commitment to repay a significant amount of interest, even when interest rates are low.

For more information, please visit http://www.burtplan.co.uk



Sell and Rent Back
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secured loan

bank gave 2 secured loans in 2005 to company A. One was 1 million used to buy equipment for the plant. the second one was line of credit partially used to buy a truck and then a later draw to buy raw material. Company A failed to file taxes end of 2005. In 2007 the irs filed a tax lien. Does the tax lien take priority over the security interest on 1st loan. Does it take priority over the truck; how about the draw used for raw material?

Sell House Quick
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secured loan

Im looking to get a secured business loan from bank of america but have poor credit but $20000+ in equipment for collateral was wondering if its hard to get a loan like this.

Sell and Rent Back
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secured loan problem

I was trying to consolidate my debt and the personal loan that i took out is a secure loan. I do not have problems paying my loan on time, but i need to find a lender who will make me a loan for the amount i owe now so i can get my car title back. I don’t have the best credit so i’m having a difficult time. Any help out there!!!!!!

Sell House Quick
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May
09

Dream High With Secured Loans

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secured loan

The securities like your home, car, land, or any other assets etc. are generally capable of serving you a good amount of loan. Regardless of the need, the secured loan can be used by the homeowners, non-homeowners, businessman, student, self-employed or any other person who has some valuable security, equity or assets to put against the loan.

While pledging the collateral, the borrower must know that his collateral that is placed is always under the risk of slipping away from his hands, because he assigns the rights to security to the lender in the event of a default occurred in the payment cycle.

With these loans, one can easily raises the finance for major purchase like buying a sweet home or car, renovating the home to add value, wedding or education expenses, consolidating debts, going for holidays, etc. The secured loans are considered as the first choice of the borrowers as well as the lenders. The borrower is entitled to various fascinating features under secured loans like lower interest rate, easy repayment option and larger approved amount. Whereas, the loan provider feels secured about his money as the lender has the borrower’s assets.

Under secured loans, the borrowers can avail the loan amount ranging as low as 5000 pounds to as high as 250000 pounds. The sanctioned amount is totally depended upon the value of the security placed; higher the asset value higher will be the amount approved for loan. Under these loans, the loan providers offer easy repayment option that range from the 5 years to 30 years. Thus, according to the borrowers’ pocket he can set the option for repayment.

The secured loans are easily accessed from traditional modes like financial institutions, high street banks or private lenders. In addition to that the borrowers can opt for the latest modes like the online option. The online mode helps the borrower to avail the secured loans in quick time as compared to the traditional method. Nowadays, the secured loans are very popular because of their lower interest rate, larger amount and easy pay-off options.



Real Estate Professionals
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secured loan

Surely, present times offer a better chance to the individuals to lead a life full with comfort and luxury. With sharp rise in income backed by a sound economy, it is a high time for every one. Even if some one is lacking financial resources, it can be easily sourced from various lenders. Secured loan is one such financial assistance which can be availed by the borrower at cheap rate of interest.

Financial assistance in the form of secured loans can be easily sourced from lenders available in the physical as well as online market. As it is secured in nature, loan applicants are required to attach any property of value as collateral. Home, real estate or any other valuable asset can be pledged as collateral. The loan amount derived is actually based on equity value of collateral. If individual is placing collateral of higher equity, loan amount correspondingly will be bigger.

In the case of Secured Loans, interest rate charged is comparatively lower. As it is secured against a property, lenders approve secured loans at cheap rates which imply borrower has to pay less on monthly payments. Through this loan, amount up to a maximum of £75,000 can be borrowed, with a repayment duration which extends up to 25 years. With cheap interest rates, bigger loan amount and repayment period which can be extended, loan applicant can easily pay back secured loans within the specific time period.

Lenders while approving secured loans do not look for good credit or bad credit. Bad credit borrowers can avail loans easily as lenders have property to lean upon. But, by paying back secured loans within the specified time period, borrower can improve the credit score.

Option for online application of secured loans makes the processing fast. Further, comparing quotes of various lenders also helps in deriving secured loans at cheap rates.

Secured loans offer bigger loan amount at cheap interest rates to fulfill all the personal needs like buying a car, starting a business, home improvement, holiday, to consolidate previous debts etc. All desires and needs can be fulfilled with the help of secured loans.



Rent Back
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