Home Loans in the UK

Owning a home is the most important dream of any person. It is one of the basic necessities of life as stated by Maslow in his 'Theory of Hierarchy of Needs'. People generally desire to have a home which not only gives them shelter, but also should be the expression of their artistic tastes, and an object of pride. Owning a home is a matter of spending of life's savings. For some- belonging to the high earning group, it is not a problem; but for others arranging finances for their dream home is a very crucial decision, they ever take in their life. To enable people to realise there dream, financial institutions and banks offer home loans to people.

Home loans play a very important role in the lives of UK nationals. Every year there are borrowings worth billions of pounds by the UK nationals for home loans. Now days, home loans have become a necessary part of life as it is not essential that one has the necessary amount of money to finance his immediate requirement for purchasing home. One can avail home loans, after signing a document with a financial institution on a specified amount of money to go with the purchase with that borrowed money. Lenders and financial institutions keep the house or any other residential property as collateral. In the UK, home loans are offered by innumerable financial institutions at various APR. The amount of loan approved usually depends on the income and assets of the borrower and his capacity to pay back the loan.

In the UK, home loans offered are of two types:

Fixed rate home loan

Variable rate home loan

Fixed rate home loans are offered to borrowers at a prefixed rate of interest for a specified time period. In case of upward fluctuations in interest rates in the market, customers enjoy the benefit of not paying any extra sum money on the increased rate of interest. Variable rate home loans, on the other hand are left to the mercy of lenders and government regulations. In case of upward trend, the borrowers have to tighten their budget.

With the ever increasing competition in the market, more and more financial institutions are offering home loans at lower APR along with customer oriented services. All companies claim to be the leading loan and other financial services provider with the best service. In order to tap the growing market companies and lending institutions are coming up with more innovative products to cater to the requirements of all the customers. With the advent of internet, the services offered have become more fast and efficient. Now one can compare the best rate offered in the market at the click of the mouse.

The complications in home owner loans fall when borrower defaults in the payment of the monthly installment. In many cases, it has been seen that lenders start charging more interest rate than the standard rate. Wise borrowers, in such situation, switch over to a new lender for better rate of interest and fee waivers. This is termed as remortgage. Remortgage is a very prudent way of avoiding heavy interest rate. There are innumerable agencies which suggest better remortgage options to the borrowers.

Moreover, with gradual shift from the sellers' market to the buyers' market, the ultimate beneficiary is the customer. Companies even offer value added services to the borrowers to evolve brand loyalty. Companies are even leveraging strength from modern management practices and corporate governance. In the long run, company which offers the best financial solution with the right set of marketing mix will win the race.

For Detail email with the subject "Enquiry".

Mohammed Amir holds several degrees from JNU University, including a Bachelors and Masters in Commerce. Currently he is working as financial consultant for chanceforloans.co.uk

---

Is a Microloan Right for You?

If you've been tossing around an idea for a small... Read More

Giving Finances a Breather Through Loans for Unemployed

Martin graduated of the college with dreams of a highflying... Read More

Should You Ever Take a Payday Loan?

Payday loans have many names -- cash advances, signature loans... Read More

Bad is the Opposite of Good... Is It? Not with Bad Debt Personal Loans

'Bad' means 'bad' no matter where you go! It is... Read More

Beware of some Get Cash Now Vendors

Some weeks it feels like you're living hand to mouth.... Read More

Bad Credit Loans

Obtaining bad credit loans can be a real challenge. If... Read More

How To Save Money On Car Loans

Have you noticed that everyone seems to have a newer... Read More

Loans Guide

Many people are confused by the different types of loans... Read More

High Risk Personal Loans ? Revive Frustrated Loan Hunting Attempts with High Risk Loans

Bad credit seems like an unfinished business, you can't shake... Read More

What is a Bad Credit Personal Loan?

A UK Bad Credit Personal Loan is a loan designed... Read More

Loan Officer Marketing - The Power of Positioning

How do you build a marketing strategy that can have... Read More

Hidden Bank Loan Charges That Would Make a Pick-Pocket Envious

There can be more to a bank business loan than... Read More

Why Choose a Secured Loan?

Are you wondering why choose a secured loan? A secured... Read More

Seven Tips For Credit-Enhancing Your Business Loan

What are the avenues available to businesses with weak credit... Read More

All About Bad Credit Secured Loans

Bad credit secured loans are a relatively recent addition to... Read More

Used Car Loans - 3 Tips For Financing Your Used Vehicle Online

Financing the purchase of a used vehicle can be done... Read More

A Guide to Debt Consolidation Loans

Should you find yourself overcome by debt, you might want... Read More

Refinance Your Car Loan - 3 Tips For Refinancing Your Auto Loan Online

Refinancing your car loan is an ideal way to lower... Read More

Secured Loans ? Filling the Void Created by the Deficiency of Resources

"Money is like a sixth sense without which you cannot... Read More

Why Choose a Personal Loan?

Are you wondering why choose a personal loan? One of... Read More

Benefits of a Business Loan

There are many benefits in choosing a business loan, some... Read More

A Borrowers Guide to Bad Credit Loans UK

If you find yourself in a situation where you need... Read More

Payday Loans And Pawnshops: Comparing Two Popular Ways Of Getting Cash Quickly

I remember years ago growing up when you needed some... Read More

What is an Auto Loan?

An Auto loan is basically another name for a car... Read More

Should You Get A Pay Day Loan?

Whether you have good credit, bad credit or no credit,... Read More

SBA Loan: Options, Benefits, and Lenders Part 2 of 2

In this second installment, we will further examine what kinds... Read More

What is an Unsecured Loan?

An unsecured loan is a personal loan where the lender... Read More

A Brief Look at the Origins of Lending

When trying to discover the origins of lending you might... Read More

The Wonders of Compound Interest

Albert Einstein called compound interest "the greatest invention of all... Read More

Shopping for a Personal Loan

Most Internet users are now extremely comfortable using the Internet... Read More

A Brief Look at Homeowner Loans

Homeowner loans are useful ways to get the things that... Read More

Debt Consolidation ? Watch out for Payday Loans

Most any large city has a number of small shops... Read More

Unsecured Loans: The Lesser Known Sibling Of Secured Loans

What is man's greatest invention?Some of the latest gizmos would... Read More