Loan Process Steps

The adventure begins. As you enter into a loan process, be diligent in expressing your
concerns with questions you need answers to. Fining out your plans, and the results
you want from refinancing your home is our beginning point.

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Home Loans- a Fillip to Your Desire to Rise on Property Ladder

Residents of the UK use a home loan in two forms. Firstly, as a mortgage where the home loan is used to buy or construct home. Secondly as a home equity loan, where cheaper finance is availed to be used in debt settlement, home improvements or car purchase. In terms of the interest rate, a home loan is the best option available to borrowers. This is because of a low rate of interest, courtesy a reduction in the degree of exposure to risk. Read more about home loans in the following article.

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Regulations Tighten On Interest Only Mortgages

More than 25% of homeowners are paying for their homes with an interest-only mortgage say the Abbey. The reason is obvious � their monthly payments are much less. For example, a �125,000 interest only mortgage at an interest rate of 5% and repayable in 25 years time, costs �525 per month – but on a repayment basis the monthly cost rises by �210 to �735 per month.

Understandably, this level of cash saving has proved highly popular with first time buyers struggling to get t…

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Mortgages. The Return Of The Mega-Mortgage.

With the housing market is now showing marked signs of recovery, especially in the South and London, the number of homeowners mortgaging for more than �500,00 is increasing. (Also see Latest Market Facts at the end of this article.)

Previously, prospective borrowers for these mega mortgages have experienced a mixed reception from the lenders � sometimes the lenders would provide the facility but viewed them as higher risk. For that reason lenders typically charged a premiu…

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