Applying For Remortgages and Homeowner Loans Now Will Provide You With the Funds Before Christmas

It is nearing the end of 2009 and Xmas will be with us in around a month from now.

Christmas is of course an important event in the annual calendar of Christians as it is when the whole of the Christian world celebrates the birth of our Lord, Jesus Christ.

People always have the desire to prepare their home for Christmas to have their property looking at it’s very best.In general more people decorate their homes just before the festive season than at any other time of the year including even such times as the height of Summer.

This is also a very popular time of year for people to really feel the desire to spruce up their homes by, for example, fitting a new kitchen, having new carpets or hardwood flooring laid, water features installed in their garden, etc.

The television and newspapers advertisements are constantly reminding us that we can still order our new furniture, whether it is lounge furnitue, bedroom furniture or a new dining room suite, and have it delivered before Christmas.

The main reason for this great wish to have our homes in the best condition possible is that people expect to have more visitors at this time of year than at any other.

Many people have a desire at the festive season to see friends that they have not seen for a long time. Children who have long since moved out of the parental home frequently want to spent Xmas and New Year in their family home.

People feel nostalgic at Xmas and want to spend time in the bosom of their family or with friends even ones thay had almost lost contact with.

Therefore having their home in the best possible condition is important to people.

Homeowners wanting to fit a new kitchen, buy new hardwood flooring, a new lounge suite, etc. etc. can arrange funds to carry out all the improvements they want. There is no need to arrnge a homeimprovement loan for the kitchen, hire purchase to buy the furniture, a loan from the bank to buy the flooring and so on when with the help of remortgages or homeowner loans everything can be bought in one fell swoop as it were, and at good interest rates.

Homeowner loans and remortgages are only available to homeowners, as both are home loan products that must be secured on the available equity in the property.

Equity is the difference between the mortgage balance and the property value. If a house is valued at say £190,000 and the mortgage is £130,000 the equity is £60,000.

In the past,homeowner loans of 100% and 125% LTV were fairly readily available.LTV stands for loan to value, and the maximum LTV these days is 70% and 80% for self employed and employed applicants respectively.

Remortgages are available from a handful of mortgage lenders at 95% LTV, and another handful at 90%. However the maximum LTV with the majority of remortgages is 80%

For homeowners with a maximum LTV of 60% mortgage rates of 1.Fixed rate mortgages and remortgages are available at under 3% while tracker rates are less for homeowners with good equity.

Homeowner loans are available from about 9% which is still low and enables a homeowner to really push the boat out this Christmas in presents, a little holiday, etc. in addition to upgrading their property for the start of the festivities.

However for those thinking of remortgages or homeowner loans there is no time to delay if they need the homme loan prior to Xxmas as neither remortgages or homeowner loans can be arranged over night.

Homeowner loans can be paid out in between two to three weeks, and this is mainly due to the fact that the borrower must be given a minimum of an eight day consideraion period or cooling off period between receiving his copy credit agreement and the agreement to sign.

Homeowner loans are faster to arrange than remortgages, and if a homeowner wants to be certain that the funds will be available before Xmas homeowner loans would be the safer bet.

The Top 10 Home Improvements That Could Devalue Your Home

Sometimes, making an improvement to your home could actually hurt you when you try to sell it. Here are the top 10 home improvements that can make your home harder to sell:

1. Kitchen Renovation. Any renovation of a kitchen that is too taste-specific or extreme in design. For example, a kitchen equipped with a restaurant-level stove or multiple refrigerators may not appeal to the buyer who is a simple cook. You want to appeal to the broadest range of buyers when selling a home, and if a buyer thinks they need to spend money re-doing what you’ve done, they will offer less.

2. Bathroom Renovations. The same can be said for bathroom renovations. Any design that is over the top could detract from the value of the home. It is best to avoid garish sinks, faucets, and tiles. And skip the heart-shaped bathtub!

3. Painting. Painting the walls is a great way to freshen up a space prior to putting your home on the market, but painting with bold colors such as red, orange, purple or even black (I’ve seen this) is a sure way to turn off a potential buyer. Buyers want to feel like they can move right in and not have to re-paint the walls to match their own tastes and their existing furniture. The same goes for painting the exterior of the home – no bright blues, yellows or greens please!

4. Water Features. Having an in-ground pool, hot tub, waterfall or pond can also devalue a home, as buyers may perceive these as extra maintenance expenses they don’t want to incur. Also, buyers with small children may be fearful of these as well. The only exception of an in-ground pool definitely adding value is if the home is an investment property in a resort area where renters find homes with a pool to be more desirable.

5. “Wasted” Square Footage. Taking valuable square footage in a house and using it for a specific, personalized purpose can make the house harder to sell and/or detract from its value, for example, turning a garage into a gym. Also, on the Bravo TV show, Nine By Design, the hosts of the show were trying to sell their NYC townhouse. The ground floor was taken up by a basketball/squash court because the owners liked to play these games. However, most buyers would see this as wasted space and an expensive project ahead to change.

6. Redecorating. Redecorating in a highly taste-specific style, such as Asian, country clutter or extreme modern can turn-off potential buyers. When selling your home, you want to appeal to the broadest range of buyers, so it’s important that the furniture and decor is neutral and broadly appealing.

7. Illegal home improvements. Decks, driveways, expansions, etc. not approved by the local town authorities can devalue the home as you will probably be forced to correct the situation prior to selling which could result in something as extreme as actually removing it.

8. Laminated Wood Flooring. Installing laminated wood flooring instead of solid wood in an upscale home can also cause a buyer to think “I’ve got to rip this out”! Better to refinish existing hardwood floors, if any, or cover floors with new but inexpensive wall-to-wall carpeting.

9. DIY (Do It Yourself) Home Repairs. While needed repairs and maintenance should be done to a home before putting it on the market, doing these yourself could end up costing you money in the end as buyers perceive your shoddy workmanship as something they have to spend money correcting, and therefore offering you a lower price.

10. Gardens and Landscaping. A high-maintenance garden and landscaping could also lower the value of a home. If buyers are not avid gardeners or don’t want to spend money watering or on hiring someone to constantly weed, trim and rotate your plantings, this could be a real turn-off.

So, before you decide to make that improvement to your home, stop and ask yourself: “Will most buyers find this desirable so that they would be willing to pay for it, or is it just to satisfy my own needs and tastes?”.

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