Financing home improvements – do it yourself or take out a loan?
Summer is an ideal time to be thinking about making a few home improvements, and you may have a few ideas of about what modifications you’d like to make to your property. If they’re relatively simple jobs or you have the appropriate skills yourself, rather than call in a builder you may prefer to ‘do it yourself’.
But DIY can be expensive, and unless you have limitless finances it can be hard to make the home improvements you really want to. While some people may put it off for some far-off future time ‘when they can afford it’, and others may compromise with more modest or lower quality improvements, there is another way.
Home Improvement Loans
Taking out a loan to help pay for home improvements is not something that should be taken lightly, but it is a viable and practical way to fund the transformation you’ve always dreamed of. It’s also worth remembering that any improvements you make are likely to increase the value of your property, thus making it a sound investment.
Whether you’re refitting your kitchen, building… Continue To Read This Post..
September 26, 2011 No Comments
More Improvements For Homeowner Loans
The credit crunch, which went on for almost three years, saw the secured loans industry on it’s knees. Even although mortgages and remortgages also fell, it was not in as dramatic a fashion as secured loans which fell to less than 20% of their previous level.
Secured loans are also known by the other names of homeowner loans and second mortgages, and they have these names for reasons that are very obvious.
The reason that they have the name, homeowner loan, is because only homeowners can apply to refinance home, as these loans require an asset which is the residential property of the borrower. The name, second mortgage, is because they are in fact exactly that, in that they rank behind the current first mortgage on a property, and are registered at the Land Registry as such.
They were always a very popular method of borrowing for homeowners for a number of extremely good reasons.The first reason was that they had low rates of interest which before the recession started from about 5.9% APR which was
June 6, 2010 No Comments