Secured Home Loans
A UK secured home loan is one of the most versatile forms of borrowing money. This type of loan requires that the borrower use their property to secure the loan. Secured home loans from DBS Finance provide the best value as borrowers can usually secure a lower interest rate. Secured home loans are also a very attractive option, as they allow borrowers to qualify for loans that they might not otherwise be able to obtain. The security afforded by secured home loans allows lenders to have less requirements and strictures on the loan.
Secured home loans release the equity in a property. The equity is the amount of money a UK homeowner has in his property as represented by the difference between the current mortgage balance and the market value of the property. In general, homeowners who have paid into their mortgages for a while would have more equity and therefore more money available as a secured home loan. This money could be used for a multitude of purposes. A secured home loan could be used for debt consolidation or for making improvements to the home, thereby raising its value. The money could even be used for a holiday. Since the loan is secured, there are fewer restrictions on how it's spent.
The equity stored up in the home is used as collateral against the loan in the unlikely event that the borrower is unable to repay the loan within the agreed term. The amount of equity in the home is a major factor in determining how much the lender will be able to offer, how low the Annual Percentage Rate, or APR is and how long the term agreement is for.
Your ability to obtain a secured home loan may depend upon your credit history. If you have adverse credit, or even if you haven't owned your home for a sufficient amount of time, or you do not have enough equity in your home, you might not qualify for a loan. It would be wise to shop around and get the best deal on secured home loans. Home loans offer tremendous flexibility. Make sure you get the best deal possible for your circumstances.
Start your loan application today, call us toll free or apply online.
DBS Finance were great. I’m so glad I chose them. all my money problems were solved. They were patient and understanding in what was a very stressful situation. Thank you for such great service!Mr & Mrs D - Northampton
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