UK Finance - Loans and Mortgages
If you are considering a UK Personal Loan, UK Secured Loan, Unsecured Loan UK Loan for Tenants or a UK Mortgage then this site should be helpful to you. With more and more UK Finance sites appearing everyday offering you this low APR rates or promising this and that - which do you use and why.
The main aim of ukfolink.co.uk is to give you a selection of information on UK Finance. We also have 3 UK site directories covering Secured Loans, Tenant Loans and Mortgages.
Although we are information biased, we do have 3 user friendly enquiry forms for Secured Loans, Tenant Loans and Mortgages. We DON'T however use words like cheapest, lowest, best or guaranteed to try and get you to complete an application form. We DO say that completing our enquiry form will bet you a competitive quote to match your individual circumstances with repayments you can afford.
Our site ukfolink.co.uk has been designed to allow an user friendly guide to UK Finance mainly covering Loans and Mortgages. Use our General Information page to help with the basics backed up with our Plain English Guide to Finance. You can also visit our UK Finance Links page for a selection of useful and informative sites.
Secured Loans:
A secured loan is sometimes it is called a Homeowner Loan because you
must be a Homeowner to take out a secured loan. Your home is used as
security, hence the name, meaning you will be able to borrow more and at
a better interest rate than Non-Homeowners.
Unsecured Loans:
An Unsecured Loan is for homeowners and is not the same as a Tenant
Loan. You must be a homeowner to take out an Unsecured Loan. Initially
you are not using your home for security and therefore the loan would be
unsecured so interest rates would not be as low.
Tenant Loans:
A Tenant Loan or Non-Homeowner Loan is for any kind if Non-Homeowner. So
if you are a private tenant, council tenant, housing association tenant,
living in rented accommodation or living with your parents.
Mortgages:
There are 3 main types of
mortgages: variable rate mortgage, fixed rate mortgage and capped rate
mortgage with the rest being just variations of the 3.
The main purpose of a remortgage is to allow you to use or release equity within your current home. You can remortgage with the sole aim of reducing your monthly repayments by extending the repayment period by 5 years for example. Most lenders use their equity to pay off debts, do home improvements like an extension or conservatory or that dream holiday.
