3 Reasons to Finance Your Career Development Using Medical Loans and Any Purpose Homeowner Secured Loans

Are you thinking of becoming a doctor or medical professional?

Becoming a doctor is a time consuming and expensive business. The Daily Mail found in 2008 that it costs £31,000 to train to become a doctor, when university costs and accommodation are taken into account. And, with university costs set to rise significantly in the next few years, training to become a medical professional is likely to become even more expensive.

One of the considerations when planning your career development path is likely to be the cost and financing of your studies.

Any Purpose Homeowner Secured Loans

If you are a homeowner, a secured homeowner loan lets you to finance your career development by borrowing a sum of cash based on the available equity in your home. A homeowner loan is secured against your property and you can typically choose the term of the loan and the amount you wish to borrow, based on the equity in your home.

You can then use the cash to pay for accommodation, tuition fees, professional memberships or even a new computer.

Homeowner loans are different from ‘unsecured loans’ as the lender takes a legal interest in your home. This means that if you don’t keep up repayments on your medical loans, your home is at risk.

Finance Your Studies Using Medical Loans

Many students elect to finance their studies using a mixture of student loans, savings and credit cards. However, the interest rates on credit cards can often exceed 15 or 20 per cent and so they are an expensive way of funding your career development.

Many unsecured loans also carry high interest rates. In addition, because they are typically taken out over a short period of time, your repayments on these loans can be very high.

Any purpose homeowner secured loans can typically be taken over a term up to 25 years. Whilst this means you may end up paying more interest over the term of the loan, your monthly repayments are likely to be considerably more affordable.

Graduated and Working? Consolidate Your Medical Loans with an Any Purpose Homeowner Secured Loan

If you have already graduated and are working in the medical profession, you may have a number of medical loans, credit cards or student loans that you accrued whilst you completed your studies.

An any purpose homeowner secured loan is a great way for you to consolidate all these loans into one easy, affordable monthly repayment. You can borrow a sum of cash secured against your home and repay all these other medical loans. It means you can save money and you don’t have the hassle of dealing with multiple lenders or creditors.

Finance Your Child’s Career Development Using Medical Loans

If your son or daughter is planning to become a doctor or medical professional, you may be able to use the equity in your home to help them fund their studies. Many parents use the equity in their homes to pay for tuition fees, University accommodation and other living expenses in order to help their children avoid leaving college with huge debt.

So, whatever your career development plans, why not consider an any-purpose homeowner secured loan to finance your training?

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