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Many people face unexpected financial difficulties at some time in their lives and the need to raise cash they do not have on hand can put a tremendous financial burden on them. The first recourse to get the money is usually by borrowing from friends and family, but when that fails to raise the necessary funds, an individual is faced with applying for a loan from a commercial bank.

While there are loans created for these unexpected situations, not everyone who applies for a loan is a suitable candidate, according to the bank’s strict qualification guidelines. Banks require collateral, credit checks, a reasonable credit score, and may also ask for a statement regarding the reason for the loan, before they will qualify an applicant for a loan.

Many applicants in need of emergency cash have poor credit scores, bad credit history and no collateral they could fall back on. Without the loans services of whole market loan comparison companies like Donkey Finance lenders, many people in tight financial need will have nowhere to turn.

As convenient and fast as these loans are, they can come at the cost of a much higher interest rate than a regular bank loan (as high as 25%), but they do not have the complexity that is associated with the application for a bank loans. For instance some lenders do not run credit checks and do not require a minimum credit score or guarantor in order to process a loan. As a result, the approval rate for these loans is very high. Personal references and other relevant information as name, address and banking information are the only information needed to complete the application for payday loans.

There is no waiting in line; the application is processed through a secure server, with none of the copious amount of required documentation of a regular bank. All the borrower has to do is complete the application online and wait for just a couple of hours for the loan decision.

Donkey Finance is pleased to be able to assist its customers in times of need, whether it is the untimely breakdown of an automobile, a sudden medical expense or a home repair issue, the company is there to offer its flexible payday loans to meet any situation with which a borrower needs urgent help.

 

1.  What Is Essential to Know About Car Insurance?

It is essential to compare the quotes and rates to know about some points. Different insurance companies offer various benefits, and you get the opportunities to save maximum on the insurance plans. It is up to you how much you research the market and which policy will suit your circumstances. To avoid any hassle, you can ask for online quotes. This will allow you to check the rates and coverage. Some other questions are given below that you can ask your insurance agent

2. Is the Policy Convertible?

The company can change the fees of the policy; you must ask this question for confirmation. If you have chosen American Insurance, then the agent will answer the question.

3. Is the Term Policy Renewable?

The term car insurance is the policy that gets expired after a certain period. It needs to prequalify by the time. You must confirm these things from your agents and car quotes.

4. Brief the Terms for The Cashing Out of The Insurance:

Get the complete information of the required policy and car insurance quote even you are taking the insurance policy. Ask your agent to explain the full terms and conditions.

5. Tell the Exclusions in The Policy:

It is the question that is related to the situation of the accidental death and the other emergency circumstances.

6. What Are Benefits in The Case of The Accident?

Why a typical insurance policy covers numerous reasons for an accident, however, the arrangement holder may add a "coincidental demise rider" to the strategy for an extra premium.

7. Explain the Accelerated Death Benefits?

The insurance broker reserves funds tool, additionally guarantees that the backup plan concentrates on returns over a long term and don't take bad speculation choices for fleeting additions.  Get complete information regarding the accelerated death benefits from your agents.

8. In the Case of The Missed Payment What Will Be the Terms and Conditions?

If an installment isn't made in the required period, in any case, the approach will scratch off, and all advantages would be relinquished. It's critical to comprehend the prerequisites of your strategy before you sign.

To make your insurance plan effective and suitable for you, in the long run, you need to complete your research work.  It will be the primary decision of your life that you are going to purchase an insurance policy. It is very beneficial for your future that you are going to save your car from any loss or accident expenditures. It is essential to know and understand what you are getting from this investment. There are different types of policies offered by the insurance companies which have different packages, limits, coverage and exclusions.

 

If you are struggling with debt, it is important to take steps as early on as possible as this can avoid the problem spiralling out of control. There are various steps you can take in order to tackle your debt issues and one of these is debt consolidation. By consolidating your debts with debt consolidation loans, you can benefit in many ways.

What Are the Benefits of Consolidation?

There are many benefits you can look forward to when you opt for consolidation of your debts. When you have a lot of high interest debts that you are paying off, it can really eat into your monthly income. This can leave you facing a lot of financial stress and can make it difficult for you to keep up with housing costs, food bills, and other essential payments. When you consolidate these loans, you can reduce your debt payments dramatically each month.

Another problem that people face when they have a lot of separate debts to pay off is problems with dealing with their budget. It can become very confusing when you have a lot of different debts to juggle, which is why you need to try and bring things under control. When you consolidate, you will be able to get rid of all of your smaller debts and creditors and instead just have one loan and creditor to deal with. This is far easier than having to deal with lots of different debts and it can help you to avoid missed and late payments, which in turn can affect your credit score.

When it comes to finding a suitable loan, you need to compare a range of lenders in order to check what their eligibility requirements are. This way, you can make sure you have a chance of getting the loan rather than spending time applying for loans you are not eligible for. In addition, you need to make sure that you check your credit score before you start looking for a loan, as you may need to meet a minimum score with some lenders in order to be eligible.

When you are comparing loans, make sure you compare the rate of interest charges as well as the maximum borrowing levels. This will ensure you can borrow the amount you need in order to pay off all of your other debts. Make sure you also check on the reputation of the lender so that you can be sure you are using a reputable lender for your consolidation loan. All of these factors can help you to find the right loan for your needs.

 

Most people often find themselves in a situation where they could do with a little extra cash in order to make ends meet. When you have a lot of financial commitments and a limited income, finding the ready cash to treat yourself or splash out on luxuries becomes impossible. However, there are ways in which you can make extra cash online or even make free money by using certain sites and services online.

Whether you are looking to make extra money to treat yourself or whether you want to save up toward something special, there are various options open to you. Many people end up getting themselves into a lot of debt in order to splurge on treats and luxuries but if you think outside the box, you will not only be able to avoid debt, but you can also made decent money to help boost your savings.

Some of the Ways to Make Money 

So, what are the methods you can use to make some extra cash? Well, there are various options available, so you need to consider your skills, qualifications, and interests. For instance, if you are adept at research and have a flair for writing, you could offer your services as a freelance content writer online. This is something you can do from a home office and in your own time, which means you can fit it in with your existing schedule and commitments.

Another service you can offer based on your skills and qualifications is web design service, which are very much in demand these days. You can work from home and provide this service to businesses and individuals around the world on a remote working basis. You can make a lot of money doing this type of work in your spare time and you could eventually start doing it on a fulltime basis once your business takes off and you have a solid client base.

It is not just services and jobs that you can consider if you want to make some extra cash online. One other thing you can do is sell items in your home that you no longer want or use. This is a great way of getting rid of clutter from your home while also making some money for things that you no longer require. You can place these items online for bidding and then make a decent amount of money on them.

You could also look at doing things such as online surveys to make some extra cash. This is something that you can do in your spare time, which means you don’t have to worry about it interfering with your schedule. You get to give your opinions on important matters, help to shape the future, and make some money for completing the surveys in your spare time. This is a great way to make some extra cash while doing something that is fun and interesting. There are various sites you can sign up to so finding ones to suit you won’t be a problem.

Most motorists are well aware of the expenses involved in driving. In addition to paying for the vehicle itself, there are many other costs that have to be considered. This includes the cost of filling up the tank, the cost of servicing and repairs, and the cost of insurance amongst other things. When it comes to the latter, you need to ensure you have the minimum level of coverage in place but you should also take other factors into consideration when deciding on the coverage levels to go for.

Some people choose the most basic insurance coverage simply because of the costs involved. However, if you have a high value car, you could find yourself seriously out of pocket if an incident occurs and you only have minimum coverage. This is why you should look around for the best deals on the most suitable level of coverage for your needs. Finding affordable car insurance is far easier these days thanks to stiff competition in the market and access to great insurance deals online.

Some Solutions to Help Cut Insurance Costs 

So, what can you do in order to help you find the best deals on low cost car insurance? Well, there are a number of steps you should take if you want to avoid paying over the odds for your coverage and you don’t want to make compromises when it comes to coverage levels. One of the things you need to do is compare the cost of the same levels of coverage with different providers, as this can vary widely. In fact, you will be amazed at how much you can save on your coverage costs by choosing the right provider. You can compare with speed and ease online, so this is not something that will take up a huge amount of your time.

You also need to look at ways in which you can bring down the cost of your cover. For instance, finding ways that make you less of a risk to the insurance company means you can enjoy lower premiums. Some of the things you can do in order to reduce the risk you pose include parking on a driveway or in a garage rather than the street and make sure you have a good car alarm fitted. In addition, you can look at getting technology such as a dash cam or tracker installed to help reduce risks. You can even take an advanced driving course to demonstrate you are a safer driver, thus further cutting the risk you pose to insurance companies.

There are many ways in which you can help to reduce the cost of your vehicle insurance, and this is something that can make a big difference to your monthly budget. All you need to do is take the time to look around for great deals and consider the ways in which you can pose less of a risk to insurance providers in terms of theft, damage, and accidents.

 

There is a misconception that playing video games promotes a lack of sociability, obesity, and idleness. In fact, research conducted by Adam Eichenbaum, Daphne Bavelier and C. Shawn Green show the opposite. At https://www.psychologytoday.com/, you can see that the results of their study showed there are long-term positive effects, such as improved perception, a better attention span, and a longer memory, and the subjects’ decision-making required less effort.

Most of the research revolved around action games where players have to respond quickly to a situation but also included other types of games. They compared people who play games to those that don’t, and the gamers outperformed the non-gamers in each of the mental capacities mentioned above. To confirm their findings, they asked several of the non-gamers to play games for a set number of hours each day to see if there was any improvement in their mental capabilities, and there was.

Better Attention To Detail

As an example, finance is one profession that could benefit from the gaming world. Attention to detail is paramount for bankers and investors, and, whether they play video games, online games, or board games, concentration and attention to detail improves. This can be vital for anyone working in finance. In any other industry, mistakes are accepted; get it wrong with a client's money though, and the financial advisor or bank employee that handled the transaction will never be forgiven.

Analytical skills tend to get better after playing puzzle games and slot games, such as the ones at https://casino.betfair.com/c/slots. Online casino sites can also enhance skills in financial management, and that has to be a bonus for all financiers.

Multi-tasking

It is a generally accepted stereotype that women are better at multi-tasking than men. However, a test called the Multi-Attribute Task Battery, which is explained in detail at https://matb.larc.nasa.gov/, showed that after just 50 hours of playing games, the ability to multitask improved significantly. The test uses some of the skills required by pilots, as they have so many things to do when they are in the air.

'Multitasking' - Richard Giles via Flickr (CC BY-SA 2.0)

Team Work Gets Better

Not all games are played as an individual. Escape rooms, for example, often involve several people trying to solve the clues to get free. Games like this encourage teamwork. This could explain why team-building exercises often include games as the most successful way of building team spirit.

Working as a team can have many benefits, regardless of the trade or profession.  In the world could of finance, teamwork can make a difference, as each team member could be aware of a different deal that could be perfect for the client in question.

Not All Bad

It appears that the bad reputation games have is not totally justified. If these mental capacities are improved from a young age, just imagine how much better a child could do at school or students at college or university. Digital devices of all types are here to stay and, as long as they are around, online and video games will be too. It is good to know they are not all bad after all.

Recent figures show that regulated bridging loans have fallen in the third quarter to the lowest level since Q1 2015. The culprit is Brexit, with property developers acting cautiously and waiting for property prices to come down before acting. It also suggests the preference of many developers to use unregulated bridging loans which can be more expensive, but far more flexible in terms of credit status and repayment terms.

According to the impartial review site Bridging Trends, Brexit is the catalyst for the number of regulated loans falling for the second consecutive quarter. The statistics show that they have dropped to 31.6 per cent of all lending in Q3 of 2018, compared to 36.8 per cent during Q2 2018. This is actually the lowest level since all the way back to Q1 in 2015. At this point, the number of regulated bridging loans transacted was at 31.5 per cent of all lending.

Gareth Lewis of MT Finance stated that: "The data continues to show that property investors are seeking attractive opportunities to acquire properties where they can add value, a trend that shows no sign of slowing down. Conversely the transaction flow in the regulated space has continued to show signs of slowing down. Is this a direct response to the everyday purchaser taking stock of Brexit and holding fire before looking to commit to the purchase of a new residence?"

The volume of bridging loans which were transacted by contributors hit £213.35 million in Q3 2018, which is an increase of £15.4 million in the quarter previous to that. This is actually the highest figure to date.

First legal charge lending increased to 84.4 per cent of all bridging loans in the third quarter of 2018, up from 80.9 per cent in the second quarter. In the meantime, second charge loans have decreased to 15.6 per cent compared to 19.1 per cent during Q2 of 2018.

The most popular reason for obtaining a bridging loan was for refurbishment purposes, as the trend of borrowers continuing to add value to existing properties. The second most popular reason was Mortgage delays.

The average completion time on a bridging loan applications soared to 46 days during the third quarter from 43 during the second. This was due to service and resource levels being impacted by annual leave.

The average term of a bridging loan in the third quarter stayed where it was at 11 months.

A spokesman from Tiger Bridging said: “With Brexit on the horizon, developers should consider bringing forward any prospective financing decisions, in order to secure a lower price for their loan and reduce any risk of putting postponing or pausing a project due to the lack of capital.’

‘Consequently, we recommend to act now, as the UK is currently enjoying a thriving lending environment, with numerous different players providing cheaper capital and choosing not to impose stringent lending criteria.”

High cost payday lenders are being cautious with their lending criteria, according to sources. Following the rise in compensation claims, the industry has already seen household names such as Wonga and The Money Shop spend millions in refunds and they are no longer offering loans on their website.

The payday loan industry has grown significantly in the last 10 years, with a peal industry value of £2billion. However, with the introduction of strict regulation introduced by the FCA in 2015, the industry is now estimated to be worth around £220 million and has since seen the number of lenders and brokers diminish significantly.

The main changes in regulation by the FCA include the introduction of a daily price cap of 0.8%, which is equal to £24 charged per £100 borrowed. Lenders must also carry out sufficient credit and affordability checks prior to funding a customer and prove their creditworthiness. Default fees for late repayment have also been capped at a one-off fee of £15.

However, despite the payday loan boom, there has been a noticeable rise in compensation claims for mis-sold loans. Customers who were sold loans that they could not afford are no able to claim refunds, with the average claim equal to around £300 to £500.

The rise is claims have been attributed to claims management companies who previously specialised in mis-sold PPI, but have now turned their attention to payday loan refunds.

Wonga.com, the UK’s largest lender in the sector, has paid over £200 million in compensation claims in the last 4 years and has recently announced that it is going into administration. Other lenders with a huge market share include The Money Shop and Cash Genie and subject to recent claims, are no longer offering loans.

Ex-customers can claim if they received a payday loan but struggled to repay and believe that they were offered a loan without sufficient checks, such as having very poor credit, being on benefits or long-term unemployment. To make a complaint, customers must go directly to the Financial Ombudsman Service.

The cost to payday lenders is enormous. Not only must they pay any compensation claims that are approved by the Financial Ombudsman Service, but also pay a £500 administration fee to the complaints regulator for handling any claim – making the average claim worth around £800.

However, there are still a number of responsible lenders who continue to trade effectively in the industry. Notably, competitors such as Cashfloat, Sunny and MY JAR have moved away from the traditional payday product to offer more flexible loans repaid over 3 to 12 months – giving customers more breathing space and longer time periods to repay their loans.

The gold mining industry has becoming increasingly constrained by the scarcity of the precious metal. The difficulty in finding gold has caused a rise in operating costs as mining companies have to look in more remote locations and drill to unprecedented depths. The amount of gold discovered has not met expectations, and forecasts predict that gold supply could decline even further over the next few decades.

The situation is likely to be exacerbated by growing demand for gold from emerging economies and nations such as Russia. The imbalance between supply and demand is predicted to lead to a significant rise in the price of gold.

With so much potential for volatility, trading provider IG is taking a look at what could be next for the gold market. The firm’s presenter Sara Walker will be speaking to Simon Popple, director of Brookville Capital, and Ross Norman, CEO of Sharps Pixley, to discuss a range of topics including:

There will be a live Q&A during the session, so viewers can put forward any topics they’d like Simon and Ross to discuss, or any questions they want answered. They can post questions to the #IGCommodityChat Community page, or by using #IGCommodityChat on Twitter or Facebook.

To watch the live video stream, tune in at 1pm (UK time) on Thursday 22 November via IG’s trading platform, or the company’s YouTube, Facebook or Twitter pages. For more information, please contact Irene Castaneda (irene.castaneda@ig.com).

About IG: IG empowers informed, decisive, adventurous people to access opportunities in over 15,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.

IG’s vision is to be a global leader in retail trading and investments. Established in 1974 as the world’s first financial spread betting firm, it continued leading the way by launching the world’s first online and iPhone trading services.

IG is now an award-winning, multi-platform trading company, the world’s No.1 provider of CFDs* and a global leader in forex. It provides leveraged services with negative balance protection, and offers an execution-only share dealing service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has recently launched a range of affordable, fully managed investment portfolios, to provide a comprehensive offering to investors and active traders.

It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the Middle East – plus the US, where it offers on-exchange limited risk derivatives via the Nadex brand.

Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

* Based on revenue excluding FX (published financial statements, February 2018).

The car finance industry can be a confusing area for many, and with a constant stream of information and advice available, it can be difficult to tell if what we are reading is fact or fiction. Nevertheless, with four in five new cars in the UK being purchased or attained on finance, it is important that people fully understand the ins and outs of loan applications before making one.

We explore five common myths surrounding car finance and explain the reality of the situation so that people applying for a loan can make a better informed decision.

Myth 1: Car finance is only available to those with good credit ratings

Whilst having a poor credit rating can surely prevent an applicant from being granted a car loan from certain providers, this is not the case for all of them. In fact, there are many modern finance brokers which now specifically focus on helping people secure car finance with bad credit.

These lenders do still look at an applicant’s credit history, but they are typically more concerned with the bigger picture and will take into account a range of personal factors when deciding whether it is safe to offer them a loan.

Really, the only significant difference between a person with a high credit rating and someone without one is that the high credit applicant is much more likely to be granted a better interest rate.

Myth 2: There is a credit “blacklist” known to all financial providers

This is one of the most common myths surrounding the car finance industry, with many people mistakenly believing that there is a credit “blacklist” which exists, listing people in the UK who are barred from receiving loans for failure to meet their financial responsibilities. This is thought to be a large database with people’s personal details listed, which is shared with financial providers and stops people from being accepted for car loans, credit cards and mortgages.

The truth of the matter is, no such database exists - an application may be rejected for any number of reasons, but being on a blacklist shared by all providers is certainly not one of them!

Myth 3: Loan providers can guarantee applicants car finance

There are very few things that are guaranteed in life, which is why people should be absolutely skeptical of any finance broker who claims that they are able to guarantee loans to all types of applicant.

Lenders are obliged to run a credit report check and review each application before they decide to grant a car loan. It is, therefore, implausible that every single person would be guaranteed a loan since some are unreliable and would not be able to pay back the amount they owed.

As such, those promoting ‘guaranteed’ car finance should not be trusted, as this is both unethical and irresponsible. It is for this reason that, under the UK Consumer Credit (Advertisements) Regulations 2010, legal action may be taken against any company which uses these types of terms to try to entice people into making a loan application.

This means that if you ever come across a broker who promises a car loan to any person, no matter their circumstances, it is best to steer well clear.

Myth 4: Your address could be the reason for your application rejection

This is one myth which has stood the test of time, because credit checks against addresses were used in the past. However, finance lenders these days will instead assess an applicant based on their individual circumstances, as opposed to the credit history associated with their registered address.

This helps put an end to the issues which occurred in the past, such as applicants being rejected for finance due to a previous resident’s failure to pay off their debts.

Myth 5: Car loans are only available to those over 21

Whilst there are, of course, some lenders who will only accept applications from those over the age of 21, there are many whose minimum age is 18. UK law holds that any person above 18 can enter into a financial agreement, so a wide number of lenders have lowered their age requirements to keep in line with the law.

In fact, certain loan providers are more than happy to consider applications from young drivers and students, particularly since there are options to nominate a guarantor (usually a family member), who will be financially responsible for repayments if the borrower cannot do so.

Above all, when deciding to purchase a car on finance, carrying out research and shopping around for the most suitable loan option is the best and smartest way to avoid falling victim to any potential problems.

 

Firstly, let’s clarify what the cash house buyer market is. This is where someone has the cash readily available to be able to buy a property outright, without having to sell their house or get a mortgage first. It doesn’t matter whether this is an individual person or a company who specialises in buying properties. If someone has the cash to buy a property without having anything else attached to it, this is part of the cash house buyer market.

The Process

The cash house sale process is not that much different from buying with a chain. The main difference is that the person buying the house does not have anything to sell and this usually means that the process goes faster. So, when someone sees a house that they like, and they have the cash to pay for it, they usually put in an offer subject to conditions and the offer is either accepted or declined. If the offer is accepted, the buyer will then have all the checks that they feel are necessary done on the house like a survey. Once they have done this, the solicitors will handle all of the legal parts, the money will be exchanged, and the house will be sold.

Companies Who Cash Buy

National Property Trade are a company who buy houses, and they use three steps. First, they will make a cash offer online based on what you have put the property on the market for, and this will be subject to conditions. They then pay to have your house valued and surveyed. After this, they will come back to you with a firm offer after the house has been valued and instruct a solicitor. After this, they will arrange for an RIC survey and the last few checks, but you are under no obligation to accept this offer and can pull out at any time during the process. Everything is paid for by this company, and there is no cost to the seller for the solicitor, or the valuation/survey.

Other companies that cash buy include Property Rescue, Open Property Group both of which claim to be members of the National Association of Property Buyers. Both these companies also have the house valued before they make a firm offer. They will offer you the price that your house is worth, and you can decide whether or not to accept it. Again, all the costs will be handled by the company, and there will be no cost to the seller.

Pros

If you experience any issues with this process, you can take it to The Property Ombudsman who will review your case. They are a free scheme that specialises in alternative dispute resolution, and they will handle your case fairly and quickly. This is good because you have this layer of security for if something does go wrong.

Another benefit is that a lot of the time selling your home this way is a lot faster. So, if you are looking for a fast sale, this might be the best option for you. Cash buys tend to be quicker because the person or company buying your home has nothing holding them back, due to having the cash ready.

Cons

More often than not, you will be looking at getting a lower value than you were hoping for at around 80% of the open market value. Cash buyers will offer you what they think is a fair price, but it is often the case that it will not be exactly what you wanted for it. While for some people this is okay, for others, they don’t like the way this works.

There are stories of some less than reputable buyers who have mislead desperate sellers. So watch out for the scams and make sure you only use a buyer who is registered with the TPOS and NABP.

The cash buyer house marketplace is a great place to be if you can afford the sell at a discount and need a really quick sale. If you are a cash buyer, it will mean that acquiring property will be easier for you than for others. If you are selling your home and you need to be out ASAP, it is also a good way for you to sell your home. Hopefully, after reading this article, you feel like you know more about this market and its strengths and weaknesses.

 

 

You might be thinking about applying for a loan, and you are looking into all the options that are available to you. Something has lead you to look at homeowner loans, but do you know what these really are? If the answer is no, then that’s okay because we are going to discuss what a homeowner loan is, as well as what it actually entails and how it is different from certain other types of loans. So, it doesn’t matter how much or how little you know, because we’ve got you covered. Let’s take a look at what a homeowner loan is.

What Is A Homeowner Loan

You might have heard of this type of loan referred to as an equity loan or secured loan. What this means is that the value of your property is taken into consideration when you apply for a loan. So, essentially, you are using your home to help you borrow money like a mortgage. You need to own some property before you apply for this loan so that there is something to list the loan against once you have applied. This is a type of secured loan, and the property that you can list can include houses, bungalows, flats, and cottages. Landlords can also take out these types of loans secured against buy to let properties, and portfolios. These loans are usually arranged by loan brokers, so if you are interested, it would be a good idea to get in contact with one as most homeowner loans are not available directly to the public.

How Is This Different From An Unsecured Personal Loan?

A homeowner loan is different from an unsecured loan. This is because you do not have to put anything up against an unsecured personal loan. So, where you need to own property to be able to apply for a homeowner loan, this is not going to be the case if you want this other type of loan. There are a lot of companies who offer this type of loan as well, and if you do not own property, this is what you need to be looking in to. With a unsecured loan the most lenders will offer is around £25K over a 1-7 year term, however with a homeowner loan you can borrow larger amount over a longer repayment period.

What’s On Offer?

Lenders are usually willing to offer anything up to millions of pounds as long as you can afford the repayments and have the home equity to secure the loan. However, most loans are below £100,000 and popular amounts are around the £40,000 - £50,000 range and used for home improvements and debt consolidation purposes. How much the lender will let you borrow will depend on a number of factors. The value of your house needs to be considered, your income is also taken into account. On top of this, your age and how long you are going to take to pay back this loan will also be taken into consideration when you’re calculating how much you can borrow.

There are a number of different loan terms on offer. Many repayments are made in the space of 3 - 25 years, meaning that there is something here that will suit those borrowers who wish to pay back the loan over a longer period. You need to be careful though because interest will also come with this loan and you don’t want to be caught out here. The interest rate will vary depending on who you have borrowed from, and unlike an unsecured loan, this rate is not fixed so your lender may increase it if there is a change in the BoE interest rates.

If you are looking into applying for a homeowner loan, you can look at companies like Together Money, Masthaven, or Shawbrook bank. All of these offer homeowner loans with good interest rates and loan periods of up to 25 years.

 

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