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Title:
Secured Consolidation Loans

Word Count:
577

Summary:
If you are looking for ways to make your debt repayments more manageable
then our secured loans, consolidation UK loans from our top lenders could
be the answer. Our lenders offer a wide product range at competitive
interest rates and with repayment terms to suit your needs.

Secured loans, consolidation UK loans are defined by the fact that they
are granted using the borrower’s home as security or collateral. This
means that if they do not keep up with the repayments on th...


Keywords:
secured loans, consolidation loans, debt consolidation


Article Body:
If you are looking for ways to make your debt repayments more manageable
then our secured loans, consolidation UK loans from our top lenders could
be the answer. Our lenders offer a wide product range at competitive
interest rates and with repayment terms to suit your needs.

Secured loans, consolidation UK loans are defined by the fact that they
are granted using the borrower’s home as security or collateral. This
means that if they do not keep up with the repayments on the loan the
will eventually have their home repossessed and sold in order to repay
the loan. It is wise to ensure that before you secure a debt using the
equity in your home, you are confident that you can cover the repayments
on secured loans, consolidation UK loans. A simple income and expenditure
analysis will give you a picture of your finances and enable you to
budget for additional loan repayments. To work out exactly how much you
need to borrow you must work out a total figure for your debts – don’t
forget to ask your creditors for settlement figures, not balances, as any
additional charges like early redemption penalties must be included. This
is an early settlement charge that some creditors charge when you pay off
a debt earlier than agreed at the outset and can be up to 2 months
interest.

The amount you borrow is subject to a charge by the lending company and
is called the Annual Percentage Rate or APR. Lenders usually quote
typical interest rates for secured loans, consolidation UK loans but
these are only indications of what you may be offered and not a
guarantee. The exact interest rate you are charged will depend on the
amount you wish to borrow, the number of years you need to pay back the
loan (term) and the lender’s flexible assessment of your unique situation
and ability to repay the loan as agreed. You’ll enjoy lower Interest
rates for secured loans as apposed to unsecured loans because the lender
is taking a lower risk with you betting your home that you will repay the
loan.

Comparing APRs is a good way to see just how competitive different
secured loans, consolidation UK loans and lenders are. You may even find
that the same lender offers lower interest rates for the same product if
you apply online as apposed to using the telephone. Interest rates are
also referred to in different ways, depending on your repayment
preferences. You may choose a fixed interest rate or variable interest
rate. With a fixed interest rate your monthly repayments are fixed for
the entire term of the loan and remain unaffected by fluctuations in the
bank base rate. This will give you the security of knowing exactly how
much you are expected to pay each month. In the case of variable interest
rates, the rate you pay is linked to the bank base rate and could go up
and down from month to month. This would make it difficult to budget
accurately but would give you the flexibility of benefiting if interest
rates drop. On the other hand, if rates increase you will end up paying
more for your loan.

Some lenders allow you some flexibility in permitting over-payments and
lump-sum payments with secured loans consolidation UK loans. This could
enable you to clear your debt over a shorter period if you can, thus
bringing down the total cost of the loan.

				
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