123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Loan Against Home Equity : Make The Most Of It!

Profile Picture
By Author: Aaden Marsh
Total Articles: 12
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Owning a house of your own has a dual advantage. It not only provides you with the satisfaction of having your own house that can be decorated and used as per your wishes but also proves beneficial when you are in need of large amount of money. It can be used to pledge as security against the loan.

Loan against home equity is a long term secured fiscal programme designed for those who are in need of cash and are proud owners of a house. In other words, a home acts as collateral.

Applicant has to decide whether he would like to take a loan on variable or fixed rate of interest. If, at the time of taking the loan the interest is low, then it will be suitable o ask for fixed rat of interest. Variable rates are more often than not lower than fixed rates. But these changes from time to time depending on prevailing market rates.

The amount of credit given by the lender depends on borrower’s current salary, credit past, repaying capacity and the estimated value of the house. In general amount granted is anywhere in the range of 80% to 100% of the estimated value of asset. However, if the lender is contented ...
... and feels that the borrower is earning well and will be able to repay, he may give the credit of up to 125 % of assessed value.

Since this scheme involves minimum risk for the lender, it is fair and just to negotiate the terms in favour of borrower. An applicant, once the loan has been approved, can save a lot in tax.

This finance programme is long term plan and the borrower can repay the debt within 15 years. Potential client must understand that in addition to interest that he will have to pay, various other charges or fees will also have to be paid by him such as stamp duty, processing fee, early pay off and closing charges etc. Longer repayment period will ask for more monthly interest. This will also raise the cost of the loan.

Any adult citizen of UK either having his own business or working for a legally approved organisation is entitled for this credit scheme.

Aaden Marsh is Advisor of loans for pensioners.For any information regarding Home Equity loans, Debt Consolidation Australia visit http://www.homeequityloansau.com

Total Views: 200Word Count: 388See All articles From Author

Add Comment

Investing / Finance Articles

1. How To Protect Your Crypto Wallet: Essential Tips Beyond Passwords
Author: Eldon Ryder

2. Ipo Grey Market Premium (gmp) Guide | Live & Upcoming Ipo Gmp Trends
Author: finowings

3. Top Benefits Of Enrolling In A Certificate Course In Banking
Author: sandeep

4. Crizac Ipo Gmp 2025: Key Dates, Price Band & Gmp Update
Author: finowings

5. Stock Market Advisory: The Growing Importance Of Professional Stock Advisory Services
Author: Vinay

6. What Is Sip And How Does It Help Build Wealth?
Author: Sagar Shah

7. Choosing The Right Accounting Firm In East And South Auckland: What You Need To Know
Author: WhizBiz

8. Goldco Review: Best Ira Guide For Investors, Retirement Planners, & Retirees
Author: Gold and Silver Investment News

9. Navigating Financial Growth With Avendus
Author: Drishti Desai

10. The 4 Types Of Income You Need For True Financial Freedom
Author: Wealth Samurai

11. Why Hyderabad Millennials Are Choosing Personal Loans Over Credit Cards
Author: anilsinhaanni

12. How A Retail Lending Specialist Can Help You Secure The Best Loan Deals
Author: sandeep

13. How Knee Replacement Improves Quality Of Life For Arthritis Patients
Author: uttam

14. Stock Market Advisory: Unlocking Investment Success With Share Market Advisory Services
Author: Vinay

15. The Rise Of Investment Banking Companies In Hyderabad’s Financial Scene
Author: Verity knowladge solutions

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: