What is Homeowner Loans - A Quick Guide

By -
What is a homeowner loan?
If you own your home, there is an additional loan option available to you. In addition to personal loans, there are also loans that are secured against your home. Because your home is used as security for repayment, these secured loans are also commonly referred to as homeowner loans.


What are the advantages of a homeowner loan?
By using your home as security against the loan you may be able to borrow more money than you could with a personal loan. Personal loans usually cater for loans of up to £25,000 while homeowner or secured loans are required for larger amounts.

Having the security of the value of your home also means that lenders can rely on something other than just personal credit history to determine whether you will repay your loan. This means that people who are self employed or have experienced a bad credit history in the past will often still be considered for homeowner loans.


Is my home at risk?
Yes. If you default on your re-payment you could lose your home. So, think very seriously before taking out a homeowner loan.


What should you consider?
Will I still be able to cover the repayments if I am going through a rough time financially?


Is the purpose of the loan worth risking the loss of my home for?
If the secured or homeowner loan is being used to consolidate existing debt, have you made the necessary plans to ensure that all avenues of the existing debt are controlled to prevent a similar situation from arising again?


Secure your best loan now
Now you know all about the pros and cons of borrowing money secured against your home or other assets, go to our secured loans calculator to compare the best secured loans against the best personal loans in the market.


Cheers,
Abdul Kadir Lokhandwala
http://www.meetabby.com
http://thoughtful-gestures.blogspot.com

Comments

Post a Comment

Popular posts from this blog

Smart Storage Tips for a Clutter Free Bedroom

By -
Image
The  bedroom  is the area in the house that is more personal and private. One spends most of his time inside the bedroom especially when much rest is needed. Hence, since it is a personal room, one’s belongings and important stuff including clothes, jewelries and others are also inside it. There would be a need to organize all the things inside the bedroom in order to make it clutter free. It is also necessary to do that so that you will not find it hard to look for your own stuff. There are many ways to create storage spaces in your bedroom. Choosing one depends on the type of room you have and it also depends on your storage needs. Today, we will give you some tips on how to create  smart storage space  in your bedroom to have a  clutter free room . Look into the tips below and choose which one best suits you. 1. Open storage. Image:  Vhychenq Try for open storage especially if your bedroom is only small. Place some items on it l...
Read more

29 Semi-Productive Things I Do Online When I’m Trying to Avoid Real Work

By -
You don’t always have to work hard to be productive.  Productivity can simply be the side effect of doing the right things. So here’s a list of 29 semi-productive things I do online when my mind is set on avoiding ‘real work.’ Check delicious popular tags like ‘ useful ,’ ‘ tutorials ,’ ‘ tips ,’ ‘howto ,’ ‘ advice ,’ ‘ entrepreneurship ,’ etc. for interesting, educational articles to read. Watch one of the thousands of educational videos streaming at TED.com , Academic Earth and Teacher Tube . Read an online book list and find a new book to grab next time I’m at the library.  Here’s another list .  And another .  And another . Read a classic book online for free at Project Gutenberg , Planet eBook , or the E-books Directory . Research a new Do It Yourself project at DIY Network , Instructables , eHow , or WikiHow . Add to, delete from, or just generally sort my ongoing to-do list at Remember The Milk . Create a cool graphical mind map of some of my recent ...
Read more

Top 5 Most Alcoholic Drinks (Cocktails)

By -
Image
5 Strongest Drinks Mixed Drink Recipes #5: The Long Island Ice Tea. This one is a classic. I can remember the first time a friend introduced me to this. After three I was laughing because they were so smooth then I stood up. Then something happened (obvious censoring) and everyone laughed at me for months after. Good times. The Long Island Ice Tea was long the king (queen?) of all strong alcoholic mixed drinks, and still deserves a place on the list. Recipe: 1 shot of vodka, 1 shot of rum, 1 shot of gin, 1 shot of gin, 1 shot of triple sec, 1 lemon, coke. Fill a cocktail shaker with ice add the spirits into the cocktail shaker. Squeeze a fresh lemon into the shaker as well. Put the lid on and shake, add to a tall glass then add lots of ice before slowly pouring the coke on top of the ice. Note: many bartenders will make a weaker version with only half a shot of each. #4: Irish Car Bomb. Many versions of this have a ½ shot of whiskey mixed with a ½ shot of Irish Crea...
Read more