Your guide to Home Equity Loans

What is Equity?

Simply a home owner's financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on its mortgage there by giving you home equity loans of the difference. During the last twenty years or so more and more people have bought there home on mortgages from the main big money lenders. The main advantage these people have over the new first time buyers is the equity they now have in there home. For example if you had bought your home for approximately £46,000 in 1984 the same home in 2004 would now be on the market for £220,000 this is a lot of equity in your home. Now it seems silly to leave all that equity tied up in your home when you would love to buy say a new car or carry out some home improvements on your home. Maybe a new kitchen or bathroom or even a conservatory which seems to be the fashion now a days.


We have looked around at different companies offering attractive home loans and find that the best interest rates available seem to be when you take up a secured loan on your home and thereby releasing equity within your home.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON MORTGAGES OR ANY OTHER DEBT SECURED ON IT. If you would like more information on home loans or equity loans or personal loans then take a look at our mortgages page