Carry Out Home Improvements With A Secured Loan Or A Remortgage  

by Pool Builders on 06-15-2010 in Articles

You are sitting in your armchair relaxing while looking into your back garden.The garden looks pretty good, but you consider that it could be better.

In the centre of the garden there is a spot that would be ideal to install a swimming pool, and it would be even nicer with a patio around it.

You get so carried away with the thought that you can actually see yourself sitting in a comfortable seat sun bathing and you imagine that you can hear the happy little voices of your children.

It would be a pleasure to play with your kids in the pool.

The swimming pool companis are advertising their pools and the loans to buy them, but it all appears to,be very expensive.

However the interest rate is high at round about 25%, and you consider that the pleasure of having your own swish heated pool, and the value that it will add to your home is just not worth all the money that it will cost.

It is expensive to obtain a home improvement loan from the company carrying out the work.

These ways are remortgages or secured loans, otherwise called homeowner loans, and they are low interest cost effective ways of doing home improvements.

Both remortgages and secured homeowner loans are home loans that require an asset of a residential property.

If there are no penalties to come out of your mortgage, a remortgage would be the better choice.

All the shopping about can be eliminated by seeking the services of a whole of the market mortgage broker who has all the lenders at his finger tips to offer you the best rates available, which currently start at less than 2%.

If a homeowner would have to pay a heavy penalty to leave his existing mortgage, a homeowner loan would be the better option.Penalties can be high at between 2% to 5% of the outstanding mortgage balance.

It makes a pool very affordble, with secured loans costing from 9% and remortgages from less than 2% for a tracker remortgage.

The repayments can be spread out up to twenty five years making them affordable to most people.

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