Posts Tagged ‘Classifieds’

Difference Between Mortgage Loan And Reverse Mortgage Loan

September 23rd, 2022

Mortgage means to place collateral. Therefore,Guest Posting mortgage loan in home loan industry is the loan taken against the property pledged as collateral. The mortgage loan is beneficial in comparison to other instant loans such as personal loan and business loan because of its rate of interest, processing fees, foreclosure charges & closure conditions, etc. Also referred to as Loan Against Property, a mortgage loan is taken to meet the personal fund requirements such as children education, child marriage, medical treatment, business expansion, etc. The mortgage loan by lender Bank/NBFC/HFC is provided only to those borrowers who has a regular flow of legal income and is within the maximum retirement age 60 years. As a result, the senior citizens were excluded from taking the mortgage loan. Hence with the view of extending the benefits of mortgage loan to the elderly the Union Government of India introduced the concept of Reverse Mortgage allowing them to borrow the funds through property mortgage, to meet their financials requirements of day-to-day expenses and increasing cost of medical treatments.

Difference between Mortgage Loan & Reverse Mortgage Loan

Sr. No.

Mortgage Loan

Reverse Mortgage Loan

1

Meaning

A mortgage is a type of secured loan as it is secured against the collateral provided. The collateral means pledging of property to obtain the loan.

Loan for senior citizen above 60 years to avail regular/periodical payments from Banks/ NBFC against the mortgage of their house while still retaining the ownership of the house and occupying the same.

Instant Cash Loans UK – Borrowers Can Stay Financially Relieved

March 15th, 2022

Dealing with an urgent monetary requirement in the middle of the month is quite troublesome for all salaried individual, as all conventional loan procedures take long duration to get approved and sanctioned. On the other hand, people also do not like to ask for any financial help from relatives and friends because money usually spoils the relationships. Hence, to tackle such distressful situations, we now have the facility of instant cash loans UK. These loans are conveniently customized with quick processing mechanism and easy terms and conditions, so that people in desperate need of money can relax with the presence of this loan service.

Instant cash loans UK are specifically crafted for solving immediate cash problems. These loans are basically classified as short terms loans and are available under both the categories of secured and unsecured loans. Hence, all those borrowers who have the provision of collateral can opt for the secured form, whereas those who do not wish to put their property at stake can solve their deplorable economic problems with the unsecured range. However, a marginal difference can be seen between the rates of interest applied on these forms. On an average, instant cash loans UK offer an amount ranging from £100 to £1000 with the repayment duration of 2 to 4 weeks. Another thing that is important to be mentioned here is that these loans usually carry a higher rate of interest in comparison to the other traditional loans but if you are ready to conduct good, productive market research then your chances of getting this loan plan at affordable rate of interest increases.

The entire range of this loan assistance is widely open for all sorts of borrowers including the category of bad credit holders who are suffering from the miserable consequences of defaults, arrears, CCJs, and bankruptcy. In fact, by placing decent collateral, these low credit scorers can actually have the advantage of acquiring huge monetary support through this loan service. Instant cash loans UK are widely available with all financial institutions including banks and private money lending agencies. However, to find the reliable lenders, you should consider the easily accessible resources of finance consultancies and loan directories. Moreover, many finance websites can also offer you qualitative information about these loans and lenders dealing in these options. In fact, the same source of corporate finance website can be used for placing your demand of free quotations.

Now, any kind of emergency or immediate financial need can be met with instant cash loans UK. Hence, all those borrowers who are constantly reducing their expenses and curbing their major financial demands for saving a good amount of funds to surpass urgent monetary crisis can now take a sigh of relief. Any kind of economically challenging situation can be easily resolved with the assistance of these loans. So, if you also have a basic requirement of buying a car, filling your tax returns or paying your child’s higher education fees then undoubtedly move ahead with this loan option as they are faster in approval and sanction procedure.