Secured homeowner loans are loans that are secured against the home of the borrower, and therefore are only available to homeowners.
You will find a number of lenders that offer secured homeowner loans, and it is important to compare different loans because interest rates, repayments periods, and terms can vary from one lender to another. You will find some very competitive deals on secured homeowner loans these days, although the exact rate of interest charged will depend on a number of factors ranging from the amount that you borrow to your credit history and rating.
There are a number of benefits that come with secured homeowner loans, and this includes:
Secured lenders offer increased borrowing power, although the amount that you can borrow will depend on the level of equity in your home amongst other things. Your equity is the market value of your home minus any outstanding mortgage or other loans secured on it.
The repayment periods with secured homeowner loans are longer than with unsecured finance, and this means that you can spread your repayments over a longer period thus keeping your monthly outgoings down.
You can use your secured...
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