Mortgages , Remortgages And Secured Loans--- The Facts.

Many people are under the impression that due to the credit crunch mortgage and remortgage products are thin on the ground. They think much the same about secured loans. This is not the true facts about these financial products.

While it is true that there are 26% fewer mortgage and remortgage lenders this year than at the same time last year, there are still a number of very good deals available at the moment.

The tracker mortgage and remortgage is a very reasonable form of home loan at this current time due to the fact that it does exactly what the name suggests, which is it tracks the Bank of England base lending rate which is at an all time historic low of 0.05%. Of course when this rate goes up, so too does the mortgage and remortgage monthly payment. It is however being officially predicted that low rates are here to stay at least in the medium term.

Mortgage applications increased 26% between June and July, hopefully meaning that some people at least are not under the misaprehension that mortgages, remortgages and secured loans are unavailable.

Secured loans are going through the lowest trough since this type of loan was introduced. Believe me secured loans are available, and by realizing this and applying for a secured loan you could help what is left of the secured loan industry to survive.

If you want to apply for one of these home loans the best way is to seek the services of a secured loan or mortgage broker who can arrange everything through all mortgage and secured loan lenders. This is the way to obtain the greatest choice of product. Your own bank and building society only sell their own products and as such your choice will be more limited. Also as it is the biggest financial comittment that you will ever take on good advice is essential.

Added to this, some building societies even offer exclusive products to their intermediaries, such as the Halifax which offers an excellent product transfer scheme through it’s appointed brokers.In this scheme if you already have a Halifax mortgage you can apply through an internmediary for a product transfer without any income proof, ID or credit check.It makes good sense to approach an expert.


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liz Moir

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Champion Finance

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