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Loans Information |
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Guide to Secured Personal Loans
Here is a useful guide to secured personal loans. A secured personal loan is the generic term for a loan. A secured personal loan is when you take out a loan that is secured on your property. A secured personal loan is secured against your home to act as security to the lender for the money you have borrowed. A secured personal loan is often referred to as a homeowner loan. Secured personal loans are an ideal solution for homeowners who have recently been refused a personal loan or for home owners wanting to borrow a larger loan amount. The property you own is valued and the lender can then decide how much they are willing to loan you. A secured personal loan can sometimes be the best option if you are looking for lower rates of interest, longer repayment lengths and own your home. Secured personal loans are 'secured' on the assets of the borrower. The most often used asset for a secured personal loan is the borrower's home. In some cases lenders may allow the loan to be secured against other items of value. Because the lender has security, the interest rate (APR) offered is usually lower than for unsecured loans, but rates can vary greatly depending on individual circumstances. Secured personal loans offer lower interest rates, due to the lower risk that is being taken on by the loan company. So, why do people take out secured personal loans? Well, firstly you may want to borrow money in order to increase your home's value by making improvements to your home. Others may take on a debt consolidation loan, which means that you take on a large loan for a long period, which pays, off your other loans and credit cards and you end up paying a smaller monthly payment than you were paying with all of your other loans together. The application process is a lot longer with secured personal loans than with unsecured loans, due to the fact that your loan provider will need to value your home. The amount that you borrow for a secured personal loan may be limited by your collateral value in your property. So, the greater the collateral, the greater the amount you can borrow against it. Even if you have had credit problems in the past, you may still be able to get your funding. With a secured personal loan you can borrow from £5,000 to £75,000 with low monthly repayments. Loans may be taken out over terms ranging from 5 to 25 years giving you the option of setting repayments at a level with which they feel comfortable. Secured personal loans tend to have a lower interest rate compared to unsecured personal loans. This is because there is less risk involved for the lender because the loan is secured on your property. If you default on your payments, you will find that loan providers will be a good deal more patient with you. Because they know that they have your home as collateral for the loan, they will give you more time to recover from whatever problems you are having that are making you late on your payments. This is not guaranteed though, so take the time to plan your payments and make sure that you can make them comfortably before you take the loan out. Majority of lenders offer the option of fully comprehensive insurance cover to protect your payments in the event of the unexpected. You may freely reprint this article provided the author's biography remains intact: About The Author
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b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-1fd=Rurl=http://ftadviser.com/FTAdviser/Mortgages/News/article/20081014/43666f0a-99cd-11dd-8351-00144f2af8e8/Lending-for-house-purchases-hits-sixyear-low.jspcid=1257611967ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNHN_3BHzghQX9euWqA_wJPKHqM5JQLending for house purchases hits six-year low/a font size=-1 color=#6f6f6fnobrFT Adviser/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-2fd=Rurl=http://www.politics.co.uk/opinion-formers/press-releases/opinion-former-index/economy-and-finance/cml-lending-declines-further-in-august-%241244764%24364298.htmcid=1257611967ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNEHHvwhtFIFGCLl9buA5rKQZR8hLwCML: Lending declines further in August/a font size=-1 color=#6f6f6fnobrPolitics.co.uk/nobr/font/fontbrfont size=-1a 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articles/nobr/a/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://money.cnn.com/news/newsfeeds/articles/djf500/200810131756DOWJONESDJONLINE000661_FORTUNE5.htmcid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNH8pNjwI0IkGIyx6QK-Ay4pB_VoHAUPDATE: GMAC Tightens Lending To Borrowers Of Auto bLoans/b/abrfont size=-1font color=#6f6f6fCNNMoney.comnbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1The lending unit will extend auto bloans/b to borrowers with a credit score of 700 or higher. In addition, it will scale back longer-term bloans/b, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.youtube.com/watch%3Fv%3DkA7qghheIIQcid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNGuCNRiwMIQH4uNSeO8UokRFZHVoQVideo: Source: Chrysler, GM Discuss Joining Forces/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/kA7qghheIIQ/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/kA7qghheIIQtype=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-2fd=Rurl=http://www.boston.com/business/articles/2008/10/13/gmac_boosts_credit_standards_for_auto_loanscid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNE7J7i8LGZy9JPgUegkd9TdaNHMzwGMAC boosts credit standards for auto bloans/b/a font size=-1 color=#6f6f6fnobrBoston Globe/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-3fd=Rurl=http://www.star-telegram.com/100/story/972006.htmlcid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNGMZaOg803mvO8R_X1l8AOoLddY4ABriefs: GMAC limits auto bloans/b to credit scores of 700 or better/a font size=-1 color=#6f6f6fnobrFort Worth Star Telegram/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/4-4fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601103%26sid%3Da7H78nUN5x6M%26refer%3Duscid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNG8sPnwI-8kfHNp4JcW1v9RZdj_-gnobrBloomberg/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/4-5fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601213%26sid%3DaKWrBuszGjf0%26refer%3Dhomecid=1256322835ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNGUZAmZ51qaQ_3KsMN2cLCzcf1HiwnobrBloomberg/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256322835hl=ennobrall 2,123 news articles/nobr/a/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.startribune.com/business/30923289.html%3Felr%3DKArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aUUJcid=1257519892ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNHrU6bomlbPFKisxUByEGX9yp6AMwLocal lenders are making money and bloans/b the old-fashioned way/abrfont size=-1font color=#6f6f6fMinneapolis Star Tribune,nbsp;MNnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1Wiseway Transportation Service recently got a $2.1 million bloan/b from Bremer Bank to build a new truck terminal about 60 miles south of Chicago. b.../b/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/6i-0fd=Rurl=http://www.familysecuritymatters.org/publications/id.1455/pub_detail.aspcid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNFX3QbFHvYdg4zRPgUAG6hoyJmGeAimg src=http://news.google.com/news?imgefp=cA_QCcoUYUgJimgurl=www.familysecuritymatters.org/imgLib/20081014_acorn_yelling.jpg width=80 height=53 alt= border=1brfont size=-2Family Security Matters/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/6-0fd=Rurl=http://voices.kansascity.com/node/2406cid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNFRukBglqqgiI08lAmfv9Jm0kr5BwSanchez#39;s column: Don#39;t blame minorities for economic meltdown/abrfont size=-1font color=#6f6f6fKansas City Star,nbsp;MOnbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1Those people who never should have qualified for home bloans/b in the first place. The uncredit-worthy defaulters of all those nasty subprime bloans/b that caused b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-1fd=Rurl=http://www.chron.com/disp/story.mpl/business/buggs/6052705.htmlcid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNE5udYafWqf61CayeR2sXC3hHFZYwCrisis has nothing to do with Reinvestment Act/a font size=-1 color=#6f6f6fnobrHouston Chronicle/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-2fd=Rurl=http://www.talkingpointsmemo.com/talk/blogs/kgoff74/2008/10/why-republicans-want-to-blame.phpcid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNHyS-wiheIjSWP8-JlJCzKzjM5qdQWhy Republicans Want To Blame Fannie, Freddie and Community b.../b/a font size=-1 color=#6f6f6fnobrTPM/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-3fd=Rurl=http://www.indystar.com/apps/pbcs.dll/article%3FAID%3D/20081011/OPINION01/810110392/1002/OPINIONcid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNHPq37pvrwjockUpqpGVnRcDEiBUQbLoans/b to low-income led to current crisis/a font size=-1 color=#6f6f6fnobrIndianapolis Star/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/6-4fd=Rurl=http://www.powerlineblog.com/archives2/2008/10/021764.phpcid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNFxTVEml_JxkqqmsY3Ln3FCfDYUgwnobrPower Line/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/6-5fd=Rurl=http://www.newwest.net/topic/article/breaking_financial_crisis_not_the_fault_of_the_people_in_charge_of_everythi/C564/L564/cid=1255326638ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNFOaOBcpAcWlDAVDk9LXD3j9xdDpAnobrNew West/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255326638hl=ennobrall 58 news articles/nobr/a/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://www.marketwatch.com/news/story/mercantile-bank-corporation-announces-2008/story.aspx%3Fguid%3D%257BFFB39969-A595-466B-A72E-1C4276381E09%257D%26dist%3Dhpprcid=1257254212ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNF-UewtPFZ14e3qnJPWpq8LxUm5JQMercantile Bank Corporation Announces 2008 Third Quarter Results/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr32 minutes ago/nobr/fontbrfont size=-1The early identification of problem bloans/b has provided us the opportunity to closely work with our distressed borrowers, and during the third quarter we saw b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.earthtimes.org/articles/show/ameriserv-financial-reports-increased-earnings,576214.shtmlcid=1257254212ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNGpi2R2hTqaMuiucWrOGb5kyvt7PwAmeriServ Financial Reports Increased Earnings for the Third b.../b/a font size=-1 color=#6f6f6fnobrEarthtimes (press release)/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://www.marketwatch.com/news/story/townebank-reports-third-quarter-2008/story.aspx%3Fguid%3D%257BC096EF4E-05E5-482D-A354-CCEFABDC7953%257D%26dist%3Dhpprcid=1257254212ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNGQHiI3e9wezgFM1lMV77Enl__Z4ATowneBank Reports Third Quarter 2008 Financial Results and b.../b/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-3fd=Rurl=http://www.marketwatch.com/news/story/sovereign-bancorp-inc-pre-announces-third/story.aspx%3Fguid%3D%257B4D2CF47D-63FC-409B-9DE7-DB384F314772%257D%26dist%3Dhpprcid=1257254212ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNHOVI-qEkkez1BrE57yu3K_QqGj0QSovereign Bancorp, Inc. Pre-Announces Third Quarter 2008 Results/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1257254212hl=ennobrall 27 news articles/nobr/a/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3Dam95H4YHyr50%26refer%3Dhomecid=1257592009ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNFoVR6iYXvK9AGpV_ezN9Ny8rTjLwIcelanders Sink Under Foreign-Currency bLoans/b as Krona Plunges/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1The money he saved is being eaten up by his car bloan/b payment, which has jumped more than 20 percent since June. Like thousands of Icelanders, b.../b/font/div/font/td/tr/table table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/9i-0fd=Rurl=http://online.wsj.com/article/SB122394411680031119.html%3Fmod%3Dgooglenews_wsjcid=1257476911ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNH_WOX-8IGiBOYo3aJ7qtzb-svjFAimg src=http://news.google.com/news?imgefp=gnpP85VGfVMJimgurl=s.wsj.net/public/resources/images/NA-AT159_LATAMA_D_20081013190849.jpg width=80 height=53 alt= border=1brfont size=-2Wall Street Journal/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://online.wsj.com/article/SB122394411680031119.html%3Fmod%3Dgooglenews_wsjcid=1257476911ei=pHf0SPWMAp_S9QTZvdmUDQusg=AFQjCNH_WOX-8IGiBOYo3aJ7qtzb-svjFAInternational Groups Offer Latin America More bLoans/b/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1Also on Monday, the Andean Development Corp., which makes bloans/b to Andean-region countries, announced a new contingency liquidity credit line for $1.5 b.../b/font/div/font/td/tr/table Loans - Google News |
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