/24-7PressRelease/ - LONDON, UK, May 04, 2007 - The popularity of secured loans is rising. This can be judged by the fact that more and more people in UK are opting for it. While the advantages of secured loans are known to everyone such as that of lower interest rates and flexible repayment periods, another factor that can be banked upon, is the rising property prices in UK.
The Bank of England has this data in this regard. There has been an increase of over 2.5 billion over the last quarter of the last year, which was actually the highest since 2004.
Secured personal loans depend on the level of equity on your home. In fact, data suggests that for many borrowers, secured loans was an opportunity to finance their home improvements and thus raise their home equity.
Gary Lumby from the Yorkshire Bank says: "Some DIY projects, like fitting new kitchens and bathrooms or installing double glazing, can be costly. The sensible option for many could be to spread the cost of these projects by releasing equity and adding it on to the total mortgage repayments.
For more information please visit at http://www.sunsetloans.co.uk
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