subject: How A Homeowner Loan/ Secured Loan Can Give You The Freedom Of The Open Road. [print this page] When we think of secured loans or homeowner loans as they are often called what springs to mind is the reason for these names, and it becomes apparent that they are loans only for those who own their property and they must require security.
What this security is is the property equity.
Equity is what is left when the balance of the mortgage outstanding is deducted from the value of the actual property.
As these loans are secured against a homeowners property homeowner loan lenders are confident about granting them at low interest rates , making them an excellent loan for homeowners.
Homeowner loan or secured loans rates at the moment have rates starting at about 9% which enables a homeowner a low cheap way of raising funds for a variety of purposes.
Unsecured loans have generally repayment periods of five years at most compared to homeowner secured loans which can be repaid from five to twenty five years makes them more affordable to more people and therefore ideal for large purchases such as a garden room, a motor home, a state of the art kitchen and so on.
A good quality motor home costs from 30,000 for a pretty basic one to as much as you want to pay.
There is little better than enjoying looking out on your garden with a glass of wine on a Summer evening as you chat to friends in the comfortable garden room all paid for by your homeowner loan and the repayments of which are not even breaking the bank.
The island unit in the centre of your kitchen has a grill fitted and when the evenings are too cold to have a grill outside with your friends how pleasant it is having the grilled meat and fish with the vegetables and salads in your wonderful new kitchen.
Never feel that you are stuck in the house ever again.
Homeowner loans make an excellent way to improve your property.
