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6 Reasons a Secured Holiday Loan Is Perfect for Financing Your Trip of a Lifetime

Whilst a difficult economic climate is resulting on Brits spending less and less money on their holidays, the average cost of a vacation remains high. A leading UK holiday company reported that the average cost of a holiday fell by £300 in 2009, but that we are still paying £2,092 for our overseas trip.

A similar survey from a rival holiday firm found that the average holiday, including the vacation itself and all food, drinks and spending, comes in at a cool £2,981.41.

With the financing of your holiday a primary concern, a secured holiday loan could be the perfect answer. Here are 6 reasons why a secured holiday loan is perfect for financing your trip.

1. A secured holiday loan is easy to arrange

Over recent years, it has become trickier to get an unsecured loan. Lenders have ever stricter criteria and any small credit problems or unusual personal circumstances can mean your application is declined.

Secured holiday loans are easy to arrange. As the lenders take a legal interest over your home, they have much more security than unsecured lenders. The process is quick and simple and can be concluded in time for your departure.

2. A secured holiday loan can be cheaper than other forms of borrowing

Many people choose to use credit cards or unsecured loans to fund their holiday. However, interest rates on unsecured loans can be high and it is not unusual to pay an interest rate of 15 to 20 per cent on a credit card.

A secured holiday loan can offer much lower interest rates than other forms of borrowing.

3. You can use the cash for whatever you wish

Most secured holiday loans don’t have any restrictions on what you can use the cash for. This means that you can use the funds to pay for not only your flights or accommodation but also your holiday wardrobe, spending money, luggage and all the activities you want to experience whilst you are away.

4. You make one affordable monthly repayment

One of the main advantages of a secured holiday loan is that it is easy and simple to repay. Once your loan has commenced, you just pay one easy, affordable monthly repayment for the term of the loan. You don’t have to worry about paying multiple lenders on dozens of credit cards or unsecured loans.

5. You can get a secured holiday loan if you’re self-employed

If you are one of Britain’s four million self-employed people, you may have found it hard to gain the credit you need. Lenders are notoriously strict when it comes to the self-employed and you often have to produce several years’ worth of company accounts or bank statements to be approved.

A secured holiday loan is available to you if you are self-employed. Indeed, some lenders operate on a ‘self-certification’ basis where no formal proof of your earnings is required.

6. You don’t necessarily need to have perfect credit

If you have a less than perfect credit history, getting a loan can be difficult. However, you can apply for a secured holiday loan even if you have experienced credit problems in the past.

Wherever you are heading on your holiday, don’t leave home without considering a secured holiday loan. It could be the perfect way for you to enjoy the trip of a lifetime.

To use your home to raise money at a competitive APR, please fill this homeowner loan form.

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