Home equity loans let you finance big-ticket ventures with the convenience of fixed monthly repayments at low interest rates. But what if you cannot avail of one? Here are 5 alternatives that you can opt for instead. ⭐Home Equity Loans ⭐Personal Loans ⭐Personal Finance
Home equity loans are a great way to finance a big-ticket project. You can borrow a considerable amount of money at attractive rates that are often tax-deductible. But these loans aren’t always the ideal borrowing option for everyone.
You may not have enough equity in your property or may not own a property at all. There could be several reasons why home equity loans may not be the right choice to fund your venture.
But fret not, we’ve got you covered! Here are 5 alternatives to home equity loans that can help you bridge some financial gaps.
Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92.
Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92.
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.
Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.
Home equity loans a powerful financial tool to fund high-cost ventures or cope with financial emergencies, but this type of financing isn’t ideal for everybody. Here are 5 alternative financing methods that you can use instead of home equity loans: