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    ,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be diffe
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    When getting a new loan it is important to understand the difference between a remortgage and a secure loan. A remortgage is when you take out a new loan to replace the current loan you have on your house. A secure loan is using the equity in your house to take out a loan. Example, if you have a house with property value of 180,000 and you have 70,000 left on your mortgage. You need to raise 40,000 through a secure loan or a remortgage.

    In a remortgage you would take out a loan of 110,000 and pay down the 70,000 you have left on your mortgage. This will leave you with the 40,000 you require. In a secure loan you can just borrow the 40,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be differ

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    ce the current loan you have on your house. A secure loan is using the equity in your house to take out a loan. Example, if you have a house with property value of 180,000 and you have 70,000 left on your mortgage. You need to raise 40,000 through a secure loan or a remortgage.

    In a remortgage you would take out a loan of 110,000 and pay down the 70,000 you have left on your mortgage. This will leave you with the 40,000 you require. In a secure loan you can just borrow the 40,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be diffe

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    f 180,000 and you have 70,000 left on your mortgage. You need to raise 40,000 through a secure loan or a remortgage.

    In a remortgage you would take out a loan of 110,000 and pay down the 70,000 you have left on your mortgage. This will leave you with the 40,000 you require. In a secure loan you can just borrow the 40,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be diffe

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    an of 110,000 and pay down the 70,000 you have left on your mortgage. This will leave you with the 40,000 you require. In a secure loan you can just borrow the 40,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be diffe
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    ,000 and use your house as collateral. What is the difference between the two you may ask? First the interest rate you are going to pay on you loan will be different. You will receive a lower rate with a remortgage then you will with a secure loan.

    This is because the lending company is making profits on the whole 110,000 and not just the 40,000. Which means the lender can give you a lower rate loan, while maintaining higher a profit margin. The downside to this particular aspect is that your original lender can have a penalty if you pay of your loan right away. So if there is a 10% charge on paying off your original mortgage early, it may be in your best interest to get a secure loan instead of a remortgage.

    If your credit has been dramatically affected, it will also make it expensive to

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