Secured loans to cover for bills

London (shakespearefinance.co.uk) June 20, 2007: According to a new survey, the year 2006 witnessed the British people getting hit with £49 billion of unexpected bills. These costs can be covered with secured loans.

According to Abbey, 80 percent of the people surveyed were, at one time or the other, hit by an unforeseen bill. To cover the costs, almost half of them used an expensive overdraft or a credit card. Both of these charge greater interest than homeowner loans.

The average cost of the bills, which included taxes, home repairs, travel costs and forgetting birthdays had a massive range: from £63 for a parking ticket to £1,206 for home repairs.

Reza Attar-Zadeh from Abbey said: "You never know what life is going to throw at you. However, you can prepare for the unexpected through building up a buffer savings fund to help deal with these shock events."

However, people without savings who are forced to borrow money for repairs or medical bills can use secured home loan to cut down the bill.


Visit:- Secured Loans