According to a latest report, UK homeowners have borrowed an astounding £264 billion against the rising value of their homes, since the start of the decade.
April 13, 2007 (Press Release) --
London – April 11, 2007: Some experts believe that a loan secured against a home is never a good idea, and definitely not the most effective way to organise the finances.
However, Julia Dallimore, marketing director of Picture Financial has a different view. She believes that there are many reasons why secured credit can be a viable route for some.
She said, “Firstly, secured loans help homeowners to reduce their monthly credit repayments, offering lower interest rates on their existing credit. In households with multiple credit repayments coming out on different days in the month, with varying interest rates and charges, managing money can be difficult.”
She further stated, “For people in this situation, freeing up a significant amount of money each month and getting everything in one place is a priority. In order to enjoy these lower payments, consumers are generally more than happy to end up paying back more over a longer period.”
“Secondly, consolidation via a secured loan is an attractive alternative to those who may be unable to re-mortgage for any number of reasons”, she added.
Stating the reasons she said, “Some people may have a favourable mortgage rate that they do not want to lose, or they would like to repay their loan over a shorter period (when compared to the typical length of a mortgage), or they simply don't have the equity.”
However, her advice to loan seekers is that proper knowledge of the terms and conditions of the agreement is essential, as “no financial product follows a one-size-fits-all approach, and they are designed with specific criteria and customers in mind”.
For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.go4ukloans.co.uk/
However, Julia Dallimore, marketing director of Picture Financial has a different view. She believes that there are many reasons why secured credit can be a viable route for some.
She said, “Firstly, secured loans help homeowners to reduce their monthly credit repayments, offering lower interest rates on their existing credit. In households with multiple credit repayments coming out on different days in the month, with varying interest rates and charges, managing money can be difficult.”
She further stated, “For people in this situation, freeing up a significant amount of money each month and getting everything in one place is a priority. In order to enjoy these lower payments, consumers are generally more than happy to end up paying back more over a longer period.”
“Secondly, consolidation via a secured loan is an attractive alternative to those who may be unable to re-mortgage for any number of reasons”, she added.
Stating the reasons she said, “Some people may have a favourable mortgage rate that they do not want to lose, or they would like to repay their loan over a shorter period (when compared to the typical length of a mortgage), or they simply don't have the equity.”
However, her advice to loan seekers is that proper knowledge of the terms and conditions of the agreement is essential, as “no financial product follows a one-size-fits-all approach, and they are designed with specific criteria and customers in mind”.
For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.go4ukloans.co.uk/
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