Remortgages and secured loans are financial products for which only homeowners are eligible as both of these home loans must be secured against an asset and in the case of a personal secured loan or residential remortgage this asset is the security of the property.

When a home loan is secured it means that the interest rate attached to the secured loan or remortgage is usually lower than the unsecured loan interest rate. This is a result of the lender being in a much stronger position as regards the borrower meeting his repayments.

This is what makes the unsecured variety of loan considerably more expensive than the secured loan or remortgage. If a person defaults on an unsecured loan and he or she is a non homeowner the only way that a loan lender can seek retribution for breaking the agreement is by registering a default or a CCJ against the borrower concerned as there is no security to repossess.

If a homeowner does not meet the repayments on an unsecured loan the loan lender can register a sort of secured CCJ against the offender in the shape of an inhibition.

An inhibition is secured against the property of the non payer in exactly the same way as the mortgage. This all means that the property cannot ever be sold with an inhibition secured against it. The lender of the unsecured loan will then have to wait for the property to be sold sometime in the future before he can get the money back.

Remortgage rates start at 1.98% for a tracker remortgage or mortgage if the prospective borrower has a maximum LTV of 60%, and this rate is the lowest in the history of the mortgage industry

If you are looking for a remortgage then visit our site to find the best remortgage for you.

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