| The
weather has very much taken a turn for the better after one
of the worse winters on record.
Ther was
even snow this March.
Now that
Spring actually has at last sprung, people are thinking about
and looking forward to Summer and the nice sunny weather.
It is
at about this tine of year that serious planning of Summer
holidays occurs, and families spent many an evening looking
at glossy holiday brochures featuring luxury cruises and far
flung romantic looking exotic locations.
There
are a number of holidays that look very appealing but that
are also possibly a little too expensive for their bank balance.
They wonder
if they can afford a better holiday this year than the usual
one to a self catering apartment in Spain, especially as it
is their twenty fifth wedding anniversay in July, and a special
holiday would be very much appreciated.
However,
they wonder if a quality holiday is affordable as there is
so much needed to be done to the inside and the outside of
their property to better enjoy the really good weather when
it finally arrives.
There
are so many things needing done in the garden such as renewing
all the decking and fixing the water fall in addition to replacing
all the broken statues.
In addition,
the garden shed needs replacing and the patio requires to
be partially renewed due to broken sections.
It would
also make the Summer much more enjoyable if they had one of
those giant Italian style barbeques that double as a pizza
oven.
All this
costs money and if the garden improvements are carried out
there will be no holiday and visa versa.
If a person
owns his property there are means of doing everything that
a heart could desire.
The holiday
and the home improvements can both be paid for by either a
secured loan or a remortgage.
Remortgages
and homowner loans, or secured loans as they are also called,
are only available to homeowners as they are secured on the
equity of a property and as such they have very good interest
rates of from 1.84% and 9% respectively making them affordable
to most people.
The 125%
LTV secured loan was abolished at the start of the recession,
and now there must be equity to obtain a secured homeowner
loan.
The maximum
loan to value for secured homeowner loans is 80% for employed
applicants and 70% for self employed.
This means
that if a property is worth 250,000 and the loan required
is 30,000, the maximum mortgage balance for an employed applicant
would be 170,000 and for the self employed it would be 145,000.
It is
possible to obtain a remortgage at 90% LTV although most lenders
limit the loan to value to 85%.
Remortgages
and secured loans are very cheap ways of raising funds for
holidays, home imrovements, etc.and they can help homeowners
realize their dreams.
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