The home loans sector of remortgages, mortgages and secured loans have altered a great deal in the last few years.

The first point of call is to explain what we mean by home loans, and what the three members of the group have in common which is what gives them their name, is the fact that they are all connected closely with homes, that is property.

The first of these, namely mortgages, is the loan used to purchase a property and as there are not many consumers with enough ready money available to pay cash, the majority of people need a mortgage to buy a property.

The fact is that there are still plenty of funds about for mortgages but many fewer people are eligible to apply now due to the fact that the underwriting criteria and the loan to vakue on offer are very much more restricted than they were in the past.

In the past many mortgage lenders granted 100% mortgages and remortgages while The Northern Rock advanced up to 125%.

A few lenders advance remortgages of up to 90% but not for first time buyers, but most prefer to limit the loan at up to a maximum of 85%.

Another major difference is that self declarations of income are no longer available even from the sum prime lenders and at least an accountant's certificate if not in fact full accounts are required.

Mortgages and remortgages are really the same thing as all a remortgage is is a mortgage taken out with a new lender.

A remortgage is simply the matter of changing from one provider to another.

Sometimes homeowners only take out a remortgage to get a lower interest rate.

On other occasions additional sums are sought for a number of different purposes.

A very common purpose for remortgaging is for debt consolidation, but there again matters are more strict with some lenders unwilling to lend for consolidation and others restricting the sum allowed for consolidation to 30,000.

In cases where a remortgage lender is not willing to advance funds for a specific purpose the homeowner can then avail himself of a secured loan.

Secured loan lenders are happy to advance unlimited amounts for debt consolidation providing the equity and income of the applicant is sufficient to support the consolidation loan.

Another case where secured loans would benefit a homeowner is in the case of self employed applicants no longer able to secured a remortgage if they cannot prove their income.

They can still get a loan on a pure self cert at 50% to 60% LTV or up to 70% with limited proof.

Home loans are still in the market inspite of all the changes.