After years of turmoil in the secured loans, remortgages and mortgage industries things are changing for the better and are looking on the up.
Mortgage applications diminished as the value of property went down and down.
Added to the drop in house prices was the fact that a majority of people were afraid that they would not have a job at the end of the recession as so many companies went out of business and many thousands were made unemployed as a result.
At the end of a mortgage period, many homeowners change from one mortgage provider to another to obtain a cheaper interest rate, and this is called a remortgage but once more due to the uncertainty of the economic times, many choose to remain with their current lender.
Most liked to remortgage previously to obtain a lower rate of interest or to obtain extra money to pay for home improvements, etc.
A common purpose of a remortgage in the past was for debt consolidation which means the rolling up off all loan debts into the one low payment every month.
The once ever so popular secured loans went down to less than 20% of their pre recession level.
Things now are on the up, and mortgage applications are going up as are property prices and more mortgage plans have been introduced.
Remortgages are increasing as some confidence returns.
Secured loans are at last experiencing a bit of a come back and with the re entry of Link Loans there is now a great deal of benefit to those self employed seeking secured loans as they will now be able to again obtain secured loans based on a self cert. Link are prepared to consider secured loans applications from self employed applicants if they have been in business for at least six months.
After three years in the wilderness, it really does look like at last remortgages, secured loans and mortgages are seeing a resurrection.
categories: remortgage,remortgages,mortgage,mortgages,secured loan,secured loans,homeowner loan