Releasing EquityIf you are looking for some funds for any purpose and you have equity in your property, then you might want to consider a ` releasing equity loan` to release the equity tied up in your home or other property, such as a buy to let you rent out. This can be used as a way of financing your plans or projects and you can spread the repayments over a long or short term to suit your monthly budget. Smaller amounts can be borrowed from just £5,000 and if you are looking at larger loans then you have come to the right place as some homeowner equity loans can go up to £250,000.
The key to being able to obtain a loan that is reliant on your equity to support it is whether your home is worth more than the amount you currently owe to your mortgage company. You can get a good idea of your current mortgage balance from your most recent mortgage statement and local papers or recent sales of homes will give you an estimated property value. The difference between the two figures is the equity you have built up in your property and is an asset you can utilise to enable you to borrow money from equity loan lenders.
If you have equity and want a loan give us a call on freephone 0800 0159 108 or dial 0330 0536001 (mobile friendly) alternatively complete our short on line form and we will contact you at your convenience to give you a free quote. If you do not have any equity we may still be able to help as we have access to a range of unsecured personal loans which may be able to meet your loan needs.
Our finance team specialise in arranging home owner loans for UK consumers who are releasing their equity, which can be used for virtually any purpose, from an extensive panel of lenders - some of which do not deal with the public directly.
Releasing Equity With A Secured Loan Or Equity ReleaseIf you think that an equity release loan could be just what you need then My Sort of Loan could help, we have many years of experience arranging secured loans and have come across many scenarios. We will provide you with a free loan quotation which takes into consideration your preferences and circumstances with no obligation to enter into the agreement.
Equity release is another way to use your equity to borrow money. The difference here is that it is only available to people of 55 and over and the loan to value or equity levels the lenders go to is quite low. However some schemes offer the choice to roll interest up on the loan rather than pay it back on going. If this route is of interest to you we can refer you to a company who provides advice and arranges on equity release products, in any case we would recommend you seek independent advice on this matter.
Our experience has shown that it`s not only people who are retired or looking to retire who may be interested in releasing the equity from their property, maybe you have a younger family or are just middle aged and have aspirations which releasing the equity from your home would enable you to realise.
If you have a young family your time together with them is precious, they grow up so fast so it is important to make memories which you will never forget, releasing equity from your home could allow you to take your family on a trip of a lifetime, maybe splash out on a holiday home or a motorhome for a lifetime of experiences. You might need a new family car to allow for your growing family or perhaps you need to add a nursery or conservatory to your home My Sort of Loan could help you utilise the equity from your home for any purpose.
Releasing Equity Secured Lending PanelMy Sort of Loan pride ourselves on being able to match our customers to the perfect financing option for them from our panel of loan providers, we have close relationships with our lending panel and this allows us to keep up to date with the latest and most competitive home owner loan products on the market today.
Loans that are secured on your equity are often more flexible than some other forms of lending and the cost of your equity loan can vary depending on the type of plan you choose to go ahead with, how much money you borrow and how long you take the loan over. which makes it all the more important to know your options before you sign onto an agreement. Take your time to make a decision and talk to our finance team to ensure you are happy with the choice, when applying to my sort of loan you will be given open help and advice from our finance team from beginning to end. Some purposes for secured homeowner loans are:
- If you need to make home repairs or alterations,
- or perhaps you want to help your family out financially with University fees or a new family vehicle,
- have run up large debts and wish to consolidate them,
- simply want to go on a holiday of a lifetime with loved ones.