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Wednesday, 12 March 2008 |
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By Joseph Kenny
 There are basically two kinds of loan, an unsecured loan such as a credit card, where the company who are giving you the credit, have no security such as against a car or house. Or a secured loan, in this case the company does have security in the form of, for example, a second mortgage on your house. This is very common if you take out a debt consolidation loan.
Loans for debt consolidation can be a very useful way of lowering the amount of money they pay out each month to cover all your credit bills. This will include things like credit cards, store cards, monthly car payments, and so on.
If you own your own home, and the mortgage is less than the value of the house, you have spare cash tied up in the house, which is known as equity. With secure loans for debt consolidation you can get at the cash that is tied up in your house.
Many people take out several loans over a period of time, these can be to buy a |
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Last Updated ( Wednesday, 12 March 2008 )
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Wednesday, 12 March 2008 |
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By Dennis Collins
 As banks compete for new business, an interesting fact emerges with regard to mortgages on purchasing property in Spain. Do banks offer better deals to a foreigner or to a national of Spain? One would naturally think that the Spanish national would get the better offer but in fact this is not always true. It pays to shop around as some banks offer little extras to non-residents in the hope of getting a foothold in this ever increasing lucrative market.
Some of these perks include 'interest only' options, extra long payment terms, mortgage valuation on dual properties and current account bank interest. All in all, it pays to shop around. Think of the possibilities that our current multi cultural society throws up. A couple, one Spaniard and one say British, are looking for a property. One looks at a Spanish website and gets information on finance, the other browses an English speaking site and gets the same but lets say slightly differing advice, based on nationality and residence. A scenario that is more prevalent than one would expect nowadays so if you |
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Last Updated ( Wednesday, 12 March 2008 )
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