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Secured Loans, Mortgages And Remortgages Interest Rates Discussed.

By Avril Marshall

Since the beginning of the recession, right up until now, remortgages, mortgages and secured loans have gone through many an up and down.

Mortgages, remortgages and secured loans, otherwise called homeowner loans, are all three home loans that rely on the equity on a property, and this is the main feature that they have in common

The first of these home loans, that is the mortgage is what is required to purchase a property. Most people do not have enough savings of their own to buy a home with, and so most have a few mortgages throughout life.

Mortgages were always a very popular loan product, especially so in the countries where the population prefer to buy rather than rent their homes, such as Italy and the UK, as compared to say Germany, where more people choose to rent rather than become homeowners.

Over the credit crisis, as house prices plummeted, so too did the need and the demand for mortgages.

One good feature of the recession, if anything during that period can be called good, was the fact that their interest rates were vey low, due to the Base Lending Rate of The Bank of England being reduced to half of a percent.

In spite of the low rates, the demand for mortgages did not increase.

When a mortgage is taken out to replace a current one, this is what os called a remortgage. Remortgages therefore, as they are only a new mortgage, have as such, the exact same rates of interest as a mortgage.

Although their rates were low, the demand for remortgages also fell, due to the falling house prices, which made many homeowners have insufficient equity to obtain good remortgage rates.

The other home loan,that is secured loans, dropped dramatically, even more than the others, and unlike remortgages and mortgages, their interest rates went up instead of down.

Mortgages and remortgage deals are now becoming more expensive, and there are some who wil now wish that they had taken out one of these home loans when they were at their lowest rates.

Want to find out more about secured loans, then visit Champion Finance’s site on how to choose the best remortgages for your needs.

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Article Citation
MLA Style Citation:
Marshall, Avril "Secured Loans, Mortgages And Remortgages Interest Rates Discussed.." Secured Loans, Mortgages And Remortgages Interest Rates Discussed.. 10 Jul. 2010. 5 Aug 2014 <>.

APA Style Citation:
Marshall, A (2010, July 10). Secured Loans, Mortgages And Remortgages Interest Rates Discussed.. Retrieved August 5, 2014, from

Chicago Style Citation:
Marshall, Avril "Secured Loans, Mortgages And Remortgages Interest Rates Discussed."

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