Mortgages and remortgages along with secured loans are all types of loans that are secured on property. Therefore these financial products are only available to those who own their own home, and are not in rented property..

A remortgage, as the prefix clearly states, is the redoing of something and in the case of a remortgage it is the rearranging of a current mortgage.

A remortgage is a new mortgage that replaces a current mortgage.

Remortgages and mortgages are based on the equity of a property , and equity is the difference between the value of a property and the mortgage balance. This means that if a property is worth 300,000 and the mortgage balance or the required remortgage is 150,000 the available equity is 150,000.

Before the credit crunch many mortgage and remortgage lenders were only too happy to grant their products at up to 100% LTV. While the Northern Rock had 125% remortgage and mortgage plans.

This said, some people may have heard that the Nationwide are offering 125% mortgages, and this is correct in a restricted way. This 125% mortgage is only available to existing customers who are trapped in negative equity due to the recession and they want or even require to move house perhaps through job relocation for example.

If they need a mortgage to move to another house the Nationwide are willing to grant them 125% of the property value to assist them.

There are still a few building societies granting mortgages and remortgages at 90% and very very occasionally 95% LTV, which would mean that if a property is valued at 200,000 on a 90% plan the maximum mortgage or remortgage would be’0,000.

Equity is really king at present and the better the LTV is the cheaper the remortgage rate is.If a homeowner has a 40% deposit mortgages and remortgages are available at under 2% which is the lowest ever rate.

Self certifications of income when applying for a mortgage or remortgage are theoretically still available fom a couple of mortgage lenders, including Platform, but at the end of the day these mortgage lenders can still ask for back up proof of self employed earnings by means of an accountant’s certificate or even full accounts.

Before the recession many mortgage lenders accepted self certifications of income, and this is in fact caused much of the financial woes, as sub prime mortgages were advanced to those who in reality could never afford to make the repayments.

Remortgage and mortgage criteria have very much tightened up and this could do with being relaxed a little.

Learn more about rmortgages then vist Champion Finance’s site to ascertain the best choice of remortgage for your needs.

Very Bad Credit Personal Loans are going to be a challenge for you, but don’t fret. There are sources of income and loans for people with bad credit, and for people with very bad credit. Very bad credit personal loans are going to work in much the same way as bad credit personal loans. Loans for people with bad credit, you may feel like you are in a sea all by yourself with no one to help.

Having bad credit can and does scare potential lenders away easily. It’s more like having a bad hair day for a very long period of your life especially if you are not handling it well. If you want to climb your way out of this you might want to consider applying for specially designed loans for people with bad credit or even very bad credit. Yes, that’s right! If you credit score is very much in trouble, you’ll still be able to apply and get a loan. Read the rest of this entry

Are you looking for very bad credit loans? Does that mean that you have been a very bad boy or girl? Life does seem to kick in and sometimes things just happen to good people right?

As you are probably aware, getting a loan is very much based on a persons credit. When a bank decides whether or not to issue a loan to someone, one of the things they are going to look at is a persons ability to pay, and of course, the persons history with past credit.

If you have less than stellar credit, then getting a loan is going to be tough. and, if you have very bad credit, loans are going to be even tougher for you to get. Every lender is allowed to put his own terms and conditions with the option of personal loan for very bad credit and for this reason only, you will find a difference in the rate of interest applied on it by various lenders. However, a good market research can increase your chances of acquiring these loans at low and affordable interest rate. Moreover, if you are ready to offer your home or property as collateral, you can procure this loan, which usually has a very reasonable rate of interest; otherwise, those who do not wish to put their property at stake can go for the unsecured form of this loan service. Finally, no matter what kind of form you pick, it is mandatory for you to read all the terms and regulations very carefully before signing the documents of the deal. By adapting this technique, you not only get the complete information about the loan procedure but also minimize the risk of getting duped. Read the rest of this entry