Secured loans otherwise known as homeowner loans have been a feature of the UK finance industry for some considerable time now as they go way back to the early 1980s., and homeowners have always regarded these secured loans as a good way to obtain a loan.

Although some aspects of these loans have remained unchanged over this period but like many other products there have been some changes.

One thing and the most important thing that has remained constant is tht they require collateral and the security needed in the case of homeowner loans is the bricks and mortar of the property

This means that the property must be worth more than the mortgage balance, and it now becomes apparent why these are called both homeowner loans or secured loans.

Nowadays the maximum equity required for obtaining secured loans or homeowner loans is 70% for the self employed and 80% for those in employment.

The position before the credit crunch was different regarding secured loans when it was possible to obtain a homeowner at up to 125% LTV meaning that at that point these so called secured loans were in reality actually unsecured.

One big change therefore since secured loans were introduced until now is the equity margins acceptable.

Another major difference between the past and now as regards secured loans is the number of secured lenders .

At the inception there was only two lenders worth considering but by the start of the credit crunch the homeowner loan market was settled with teens of the same secured loan lenders offering this product, but the majority of them have gone out of business.

An additional change is in the difference in income proof needed for self employed borrowers who now require accounts instead of the self certification of earnings as in the past.

Looking to find the best deal on secured loans, then visit www.championfinance.com to find the best deal on homeowner loans for you.

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