‘IF you’re in the market for buying a new car, making home improvements, planning a wedding or consolidating existing personal debt, it’s likely you will be looking to take out a significantly-sized loan.

Whatever the reason, which is the more economical option for raising funds - a secured loan or the remortgage route?

As always, circumstances need to be considered and numbers crunched. On the face of it, the low mortgage rates currently available suggest the choice is a “no-brainer” but the interest rate is not the only factor in the equation.

For instance, if you’re a first-time buyer you may not have sufficient equity in your property as house prices and values have remained fairly static these past months.’

Read more at Marry your needs with the best way to borrow

Recent Entries

• Record number of savers look to stash cash in tax-free Isas
• Savings targeted by 43%
• Personal finance advertising lagging behind consumer internet drive
• £1 a week earns 14 years of freedom
• Third of Scots have no more than £100 put away
• Debit accounts can help youngsters learn lessons about money
• £130,000 - the cost of life as a pensioner
• UK set for strong mortgage revival
• Brits break personal finance pledge
• Bankruptcies in Scotland soar by 50%, but worst is still to come

This entry was posted on Thursday, July 7th, 2005 at 12:51 am and is filed under Personal Finance - General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.