Buy A Bargain Motorhome With A Secured Loan Or Remortgage

Spring is well and truly here in all it's glory, and the most awful Winter imaginable is now absolutely in the past.

For the last few days or so, the world about you has been a great place to live in, not only because of the sunny weather and the new growth of flowers and trees in your garden, but also because of the fact that for the last three months you have been in a very good and well paid job, and your probationary period is now at an end.

The confidence in life and the looking forward to the future is now very much part of you, just as it used to be before you lost your job during the recession.

Your renewed joy in life, and your good salary makes you want to plan the trip to Europe that you had put in the back burner due to your lack of confidence in your security of employment.

For years your partner and you had discussed buying a motor home and touring the continent with it once your children were capable of looking after themselves, and your budget stretched to it.

These two conditions have come to fruition, and what you now have to consider is the best way of buying your home from home on wheels and paying for the trip in general.

You have lived at the same property for over 20 years buying it for £150,000, and now your home is worth in the region of £380,000 with a mortgage of only £80,000.

You can go to a dealer who can arrange a loan for you, but the disadvatnages in this are that a deposit of at least 30% of the purchase price is needed, the interest rate can be quite high, and the repayment period is often a maximum of seven years.

Homeowners can use better ways than this when they want to buy an expensive object. As regards buying a motorhome, these methods eliminates the need for a deposit, have low rates of interest, and their repayments can be spread over 25 years.

With equity being the sum that remains when the mortgage balance is deducted from the value of the house, you are in the fortunate possition of releasing a little of this equity to raise funds to pay for your motor home and the holiday of the life time.

By this we are referring to secured loans and remortgages which are loans that homeowners can avail themselves of to buy almost anything they want at a very cheap interest rate.

A remortgage or a www.championfinance.com">secured loan make it possible for people to buy things that they could not otherwise afford, as secured loans have rates from 7.9% and remortgages are available from little as from under 2%.

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