Low Rate secured loan

secured loan

I am about to sell my house but the amount will not cover the mortgage and the secured loan. What will happen?

Real Estate Professionals
Categories : secured loan
Comments (12)
Sep
27

Easy Way Out to Secured Loans!

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secured loan

Haven’t we bumped into people brooding over obtaining a right type of loan. One can now have a breather with secured loans available in the UK online loan market.

Online secured loans provide a comprehensive guideline on how a secured loan can be utilized for various purposes. A secured loan serves as a multipurpose loan catering to gamut of financial needs such as purchase of home, home improvement, debt consolidation, purchasing a new car, children’s education, purchasing holiday package, etc.

All those refused for loan, now, learn where to look back when others have refused owing to bad credit history, mortgage arrears, CCJs, no proof of income, etc. Online secured loans consider each individual’s case indiscriminately despite bad credit history. The primary criterion for issuing a secured loan is the equity on the collateral. The collateral can be anything such as your house, car, real estate, jewelry or any valuable property. Since you are offering a security, the lender becomes assured that he will not lose his money. If you somehow fail to repay the loan amount, the lender repossesses your property and gets the loan amount back by selling the property. This is also the reason why lenders offer a good loan amount to you. If a borrower has a sound equity, then he/she has a better chance of winning a good secured loan deal with a low rate of interest, longer repayment time, flexibility on loan terms etc.

One can borrow as much as £3,000 to £500,000 amount for any purpose with repayment terms between 5 to 25 years, as well as avail the most appropriate professional advice at all times. Your equity would be the market value of your collateral such as a house etc. If one has mortgaged his collateral, and has made a part of mortgage loan payment in that case his equity left with him would be the unpaid amount minus the actual value of his house. One still has an option of laying down his already mortgaged home as collateral for further loans as he has part of his equity left with him.

With the onset of online borrowing system you can avail secured loan in the minimum time and with least hassle. Whether you have a perfect credit score or no employment status, it is of secondary importance. Bad credit borrowers are equally at ease in applying and availing low rate secured loans. Just do some online research to find out the secured loan features and settle down with the right loan company.

For further details on secured loans visit: Secured Loan UK



Sell House Quick
Categories : secured loan
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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

If I purchased a home for example $200,000 with a non-secured loan (strictly based on paperwork and credit, but no lien on the house) and I sold the house for $200,000, would I have to pay taxes on that money since there were no capital gains?

Rent Back
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Comments (5)
Aug
24

secured loan?

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secured loan

My husband and I have a morgage and secured loan and getting divorce, I have moved out of the property and renting now. The problem is I want to removed my name on the property deed. My husband says that I still have to pay for the secured lone while I am not on the morgagae and dont live in the house. And if he goes bankrupt would I be affected.

Rent Back
Categories : secured loan
Comments (2)
secured loan problem

I’m looking for purchase an Anytime Fitness franchise. I’ve never owned a business before, but am eager, ready, and know a great location. The problem is that I don’t have the initial funding to begin. Do I go the bank for a loan? Is that easy? Other ideas?

Quick House Sale
Categories : secured loan
Comments (1)
secured loan

In the UK, many lenders have tightened up their lending criteria due to which now the loan seekers may not be able to get a personal unsecured loan to consolidate their debts, but that does not mean you will not be able to get a secured loan. As the loan applicants will be required to offer security, like a home, lenders are more comfortable with offering the money to the loan seekers.

Nowadays, the borrowers may be aware that a number of secured loan providers have actually withdrawn from the marketplace. However, there is nothing to worry about as there are still lenders out there who will be prepared to lend the required amount against the security pledged. Nevertheless, if a borrower approaches a secured loan provider himself, he may end up being unpleasantly surprised by the lending rate they quote to him.

Be cautious of being seduced by that typical APR quoted in secured loans advertisement. Always remember, there is no guarantee that the borrower will get the rate mentioned in the advertisement. With the objective of being able to quote the rate they do, lenders are only required to offer that interest rate to at least two-thirds of the customers they accept as the borrowers.

In such cases, the brokers could be of great help for the clients as they simply reduce the hits on the credit record. Also, being a borrower, if you are shopping around for a secured loan then it should be remembered that if you approach several lenders at once, you are potentially damaging your ability to get the loan you want at an interest rate you are going to be contented with.

The best secured loan is a powerful financial tool to help the persons in need to get their finances on an even keel. However, they should think very carefully before putting their property against the loan amount. The borrowers must be absolutely sure that they are going to be able to afford the pay-offs, otherwise they could lose the roof over their head.

But, if a secured loan is the right way forward, a borrower can structure it so that he can clear all the expensive credit card debt he finds himself carrying over a set period, and be sure that he will be debt-free when the loan is repaid. Rather than re-mortgage and be paying off the debt over the term of mortgage, the borrower can also arrange a secured loan for a shorter period so that he can easily clear the debts much more quickly.

A secured loan may be right for you or it may not be so. However, to get the right secured loan, the borrower should seek out a lender himself and compare the various available deals to get the best secured loan.

However, the advantage of using a broker is that it enables the borrowers to shop around through the products of several lenders without creating a situation of multiple credit applications. A fast secured loan broker may also be in a position to offer you a better deal than going directly to a lender as a result of special deals that the broker may have negotiated with the loan providers. Such loan arrangers help the borrowers to sort out their debt problems.



Rent Back
Categories : secured loan
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secured loan

Although the loan market has provided us, customers, with a diverse collection of loans, Secured Loans are among the few loans that have gained outstanding, ever increasing popularity with the common people, rather than with the business class. Secured Loans are easy to obtain, they offer low interest rates and flexible repayment terms. To make a Secured Loan seem fair to the lenders too, they necessitate placement of collateral. At the end, Secured Loans are ideal solutions to any fiscal problem that needs attention.

Features of Secured Loans:

·Collateral:

Secured Loans are also referred to as Secured Personal Loans because they are Personal Loans that need to be secured on an asset commonly known as “collateral.” Collateral is a mandatory feature when any loan is “secured.” It can be in the form of real estate – a house, property, etc. or also in the form of an operative bank account, jewellery, an automobile, etc. Collateral of higher value will enable you to avail of a higher loan amount. The basic idea of collateral arises so as to give the lender or creditor some kind of assurance that the loaned amount will be repaid. This is why collateral remains in the lender’s custody until complete repayment of the Secured Loan. While on the topic, something worth mentioning is that in case you default in your monthly repayments, the lender can seize or confiscate your collateral

·Low Interest Rate:

The presence of collateral puts a Secured Loan lender in a comparatively complacent position and this is why Secured Loans offer low interest rates compared to other Personal Loans like the Unsecured Personal Loans. Interest rate is commonly termed as APR (Annual Percentage Rate) and it ranges from 6% to 25% depending on the loan amount, value of collateral, credit history and your repayment capability. Since, interest is what determines how feasible a loan is, Secured Loan are a better option.

·Loan Amount:

Being secured and being a preferred option for most lenders, Secured Loans make a larger amount available to it’s borrowers. A typical Secured Loan amount ranges from £5,000 to £75,000. The amount that is finally approved also depends on value of collateral, credit history and financial standing of the borrower.

·Loan Term:

Secured Loans have flexible repayment options that can suit your personal financial standing. In fact, Secured Loans are customized to your requirements. Based on your loan amount, your collateral value, credit history and interest rate, you and your lender choose your loan term. A loan term for Secured Loans generally ranges from 3 to 25 years. Your monthly payments will in turn depend on the loan term selected for you.

·Credit history:

Good credit history helps you avail of a Secured Loan with a higher amount. On the other hand, although bad credit doesn’t stop you from getting a Secured Loan, it limits the amount. However, as Secured Loans are backed by collateral, most lenders approve them even in cases of C.C.J’s, defaults, bankruptcies and arrears. This makes Secured Loans available to those who would otherwise not qualify for a loan from their local bank.

Secured Loans are approved as soon as your collateral is evaluated and also after a credit check is carried out. This is why a Secured Loan is so easy to obtain. Based on what all Secured Loans offer, there is now a financial solution for the employed, the self employed and the unemployed, too.

Always remember you should consider your financial position, the amount to borrow and the repayment option you will be able to afford. Based on them, look for a lender who provides the best possible offer. Take informed decisions with proper guidance from experts as they will have a wider opinion on the matter. Do the calculations yourself. The amount to be repaid includes the actual amount, interest and other fees charged by the lender. Try to repay your loans as soon as possible. Paying more means paying faster! Take an active part in choosing your repayment options. Ultimately, it’s customized specially for you!!



Sell House Quick
Categories : secured loan
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Jul
20

I have secured loan with First Plus?

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secured loan problem

…..but their customer service is a disgrace

(1) Its variable rate of APR, which I accept, but WHY NOT REDUCE THE RATE WHEN THE BASE RATE GOES DOWN ?

(2) Had had an emergency that cost me £500 so I asked for a payment holiday to get back on my feet. They refused, but the person on the phone said “You need to pay or you will receive a re-posession order”

I accept that I am responsible for the majority of my debts because of previous problems. but why don’t these creditors help us out more ? With the Global Credit Crisis , surly its in their best inerests too, to help people to preven their COMPANIES from going down.
To respond to some of the answers already given.

(1) This loan was taken out after a relationship break up, and I am not complaining about the fact that is variable rate, I am simply pointing out that when rates go down, the cost goes down, as is the case with a Mortgage.

(2) I agree that it is too easy to get credit, but what I object to is the rudness that they used on the phone. I am still a “customer” and have right to customer service. Having debts does not make a person any less deserving of proper customer service.

(3) When my car developed a mechanical fault that was quoted at £1600, id imagine that very few people would have that kind of money tucked away.

(4) My lodger lost her job and was unable to pay rent…again, a situation out of my control, so please don’t judge me.
I do accept resposnibility for my debts but a number of UNFORSEEN CIRCUMSTANCES are what prompted me to call 1st choice.
All those of you who seem to be judging me, I only hope you never go through any difficulties outwith your own control.

Quick Property Sale

Categories : secured loan
Comments (6)
secured loan problem

I have recently graduated from university and I am finding it difficult to make a break into the industry that I studied without possessing further practical qualifications. The problem that faces me is that I would like to attend a 4 month fastrack course which will give me all the extra qualifications required but I can not afford to do so without borrowing money. I realise that their is the option of a Career Development Loan, however I am looking for around £14,400 which is about £6,400 more than the CDL covers. My mother, who is a widowed housewife, owns our house outright (value of around £320,000) and has a steady income to keep herself going from capital in the bank. She is willing to back a loan for me using her house as a guarantee. My question is whether or not this is possible and with who? Many thanks.

Repossession
Categories : secured loan
Comments (5)

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