UK Guide To Home Improvement Loan An Easy Way
Posted by Nick Niesen on October 29th, 2010
If some one asks me the first thing that I would like to change or improve upon given an opportunity. The answer without second thought would be my home. Why? This is the place where I feel most comfortable and this is where I have enjoyed my best times and to enjoy those again and again I would improve my home.
The home improvement that you may go for could be minor or major. It purely depends on the requirement of individuals on how they see things at that point of time. The usage for which a home improvement loan may be taken depends on person to person and his needs or just luxuries.
Few reasons why a home improvement loan is taken in UK are:
The home improvement loan in UK is available with two options to the borrowers. They are:
A secured home improvement loan which can be taken by the borrowers if they can provide a security to the lender. The security may be any of the assets of the borrower his home, car or any piece of land. With these loans we can get a loan of up to £75000 for a long period.
Advantages of a secured home improvement loan in UK are
Low interest rates, hence low monthly payments.
A disadvantage of a secured loan is that it can only be availed if the borrower has a security otherwise these loans are not available.
Other way of getting a loan is through unsecured loans these loans do not require any collateral to be provided. So these loans are available to almost every body from tenants to home owners. With these type of loans we can loans starting from £500 to £25000.
Advantages of unsecured loans are
Disadvantages of taking unsecured loans are
High interest rates
Home improvement loans in UK are now available to every body even to people who have bad credit history. It includes people like CCJ?s, arrears, defaults, or late payments.
Home improvement loans not only serve the purpose the also provide many benefits to the borrowers as well.
?Home sweet home? that is how the phrase is and that is certainly true for most of the people. A healthy home environment can lead to a healthy work and other things. So a home should be perfect in our eyes. As perfection begins from home and then filters through to different aspects so if you feel that home improvement is needed than you should go for it.
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About the AuthorNick Niesen
Joined: April 29th, 2015
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