Is A Secured Loan The Right Choice?
Secured loans are loans that are aimed at homeowners with some level of equity in their homes. Equity is the difference between the market value of your property and the amount that you owe on the property by way of mortgage or other secured loans. Unlike an unsecured loan these loans are secured against the home, and this why you need to be a homeowner in order to be eligible for a secured loan. There are a number of lenders that are able to offer this type of loan, and you need to compare a range of loans from a number of lenders to ensure that you get the best deal possible on your borrowing.» • Repayment and Interest Only Mortgages Consumers these days can benefit from a choice of mortgage products, such as fixed rate mortgages, discount mortgages, the tracker mortgage, and more. There are two main categories under which all of these mortgages lie, and these categories are repayment mortgages and interest only mortgages.
