Types of Loans

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The Many Kinds of Loans

Car Loan

There are basic types of car loans available are Hire
Purchase and Manufacturer's schemes. Hire purchase car
finance is arranged by a car dealership, and in essence
means that you are hiring the car from the dealer until the
final payment on the loan has been paid, when you receive
ownership of the car, usually through a deed.
A manufacturers' scheme is a type of loan that is combined
and advertised by the car manufacturer and can be arranged
directly with them or through a local car dealership. You
will not own the car until you pay back the loan in full,
and the car could be repossessed if you didn't pay your
bills.

Cash Loan

Cash Loans are also known as Payday Loans, and these loans
are ideal for people in employment who find themselves in a
situation where they are short of immediate funds. A Cash
Loan can assist you in this situation with short-term
loans. Loans are repayable on your next payday, although it
is possible to renew your loan until further paydays down
the road. To apply for a Cash Loan you have to have a job
and a bank account with a checkbook. A poor credit rating
or debt history is initially not a problem.

Debt Consolidation Loan

Debt consolidation loans can give you a fresh start,
allowing you to consolidate all of your loans into one
simple loan, which will give you just one easy-to-manage
payment, and in most cases, at a lower rate of interest.
Secured on your home, these debt consolidation loans can
sweep away the pile of repayments to your credit and store
cards, HP, loans and replace them with one, low cost,
monthly payment that is calculated to be well within your
means. With a Debt Consolidation Loan, you can borrow up to
125% of your property value in some cases.

Home Loan

A Home Loan is a loan secured on your home. You can unlock
the value tied up in your property with a secured Home
loan, and many people choose to do so with this kind of
loan. The loan can be used for any purpose, and is
available to anyone who owns their home. Home loans can be
used for any purpose such as, home improvements, buying a
new car, taking a vacation, paying of credit cards and debt
consolidation.

Home Owner Loan

A Home Owner Loan is a loan secured on your home that you
own. You can unlock the value tied up in your property with
a secured Home Owner loan. The loan can be used for any
purpose, and is available to anyone who owns their home.
Home owner loans can be used for any purpose such as, home
improvements, new car, luxury holiday, pay of store card or
credit card debt and debt consolidation.

Payday Loan

Payday Loans also known as Cash Loans are arranged for
people in employment who find themselves in a situation
where they are short of immediate funds. A Payday Loan can
assist you in this situation with short term loans to help
you get through tough financial times. Loans are repayable
on your next payday, although it is possible to renew your
loan until subsequent paydays. To apply for a loan you must
be employed and have a bank account with a checkbook. A
poor credit rating or debt history is initially not a
problem.

Personal Loan

There are two categories of personal loans: secured
personal loans and unsecured personal loans - See
individual titles below. Homeowners can apply for a Secured
personal loan (using their property as security), whereas
tenants only have the option of an unsecured personal loan.

Remortgage Loan

A remortgage loan helps you to change your mortgage rate
without moving your home. Remortgaging is the process of
switching your mortgage to another lender that is offering
a better deal than your current lender. This process is
done to help you save money. A remortgage can also be used
to raise additional finances by releasing equity in your
property. You can borrow money and rates are variable,
depending on status.

Secured Loan

A secured loan is a loan that uses your home as security
against the loan. Secured loans are suitable for when you
are trying to raise a large amount; are having difficulty
getting an unsecured loan; or, have a poor credit history.
Lenders can be more flexible when it comes to secured
loans, making a secured loan possible when you may have
been turned down for an unsecured loan. Secured loans are
also worth considering if you need a new car, or need to
make home improvements, or take that luxury holiday of a
lifetime. You can borrow any amount of money and repay it
over any period from 5 to 25 years. You can choose a
monthly payment that fits in your current circumstances.

Carlo Siemans is the owner and operator of
<a href="http://www.foreloans.com">Fore Loans Ltd</a>
which is an excellent place to find loan links,
resources and articles. For more information go to:
http://www.foreloans.com/

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