If you’re a homeowner, chances are that you’ve been deluged with offers from finance companies to lend you money based on the equity you have invested in your home. A home equity loan is a loan extended to you that is secured by your home.
Your Mortgage Application May Trigger Competing Offers
If you are in the market to buy a house you may start getting contacted by everyone and their uncle.
Types of Home Equity Loans
Home equity loans are a way of using the money that you’ve invested in your mortgage by borrowing against it. Essentially, a home equity loan is a ‘second mortgage’ – a loan secured by your property. If you don’t make good on your payments, the lending company or bank can force the sale of your house to recover their money.
Interest Only Mortgages
These days, as people scramble for new and more creative ways to finance buying a home, the interest only mortgage is becoming more common and well known.
Mortgage Brokers Best Service Tips
Most of us have been there before, looking to buy a new home.
Mortgage Lenders Your Options
Finding your dream home is usually the simplest part of the house buying process! Once you see somewhere you want to put in an offer for, youll want to move fast. It helps, therefore, to have your mortgage sorted before you find somewhere you want to buy.
You can choose a lender and mortgage, apply for the loan and get your mortgage approved on principle before you even start looking for a house. This means that you know what your budget will be and can be fairly certai…
Your FICO Score and Applying for a Loan
Have you wondered how loan and mortgage companies decide whether or not to lend you money when you apply for a loan? For nearly all, the decision is based on one version or another of a ‘credit score’ based on your credit report. The most commonly used credit scoring ‘device’ is the FICO – software developed by Fair Isaac and Company to evaluate credit histories.
UK Student Loans Explained
Student loans seem to be the only feasible way out to pursue higher studies for the average student in UK. Things become all the more difficult for those without university funding. The government, in its efforts to make further education affordable, had undertaken quite a few steps to buffer educational finance.
Secured and Unsecured Loans
One of the most basic decisions when it comes to taking out a new loan, is whether to opt of a secured or an unsecured loan. Before we discuss the advantages and disadvantages, you should know that a secured loan means that if you cannot meet the repayments, the lender has access to an agreed security, such as your home or car, to pay off the loan.
Strange & Unusual Loans
There are as many reasons to borrow money as there are things to spend it on. People borrow for all of these various reasons. The boom currently being experienced by the consumer credit industry is proof of this. While there are many standard reasons why people will seek a loan, there are also many very unusual ones.
Personal Loans For Self Employed Applicants
Many people are attracted to the benefits of self-employment, from setting your own hours and being your own boss to having control over the development of your business and career. One of the most daunting aspects of self-employment is finding credit.
Personal Loans: Getting The Best Deals
There are certain things that you can always count on. Paying interest on loans is one of them. But there are certain things that you can do to minimise the amount of interest you do pay on loans.
Everyone has to borrow money at some stage in their lives. Most of life bug decisions will involve loans and credit. Buying a house, paying for college, even buying a car will usually involve significant amounts of credit for most people. But most people also regret the fact tha…