What is a Homeowner Loan?

Homeowner Loans, also known as secured loans, are loans that allow mortgage holders to borrow large sums of money, often at better rates than unsecured personal loans.

Why Choose a Homeowner Loan?

Why Choose a Homeowner Loan?

  • Rates May Be Lower

    As homeowner loans are secured against your property, lenders will often be able to lend much larger amounts with lower rates of interest in comparison to unsecured loans.

  • Poor Credit Options

    We understand that not everyone has a perfect credit history, that's why we have access to homeowner loan products which allow CCJ's, Defaults and Missed Payments.

  • Longer Repayment Periods

    Homeowner loans can be repaid over a longer period of time, giving you the time and flexibility when making repayments. Repayment periods are available upto 30 years.

› How do Homeowner Loans work?

How do Homeowner Loans work?

Is a homeowner loan right for you? Make sure you know how they work, and what the benefits and disadvantages are before applying.

A homeowner loan is a loan that is secured against your property. This offers the lender greater security, because, if you default, the lender can take possession of the property. This means if you are unable to keep up repayments, you may be at risk of losing your home. As there is increased security for the lender, there is a number of benefits that are unavailable with unsecured loans, such as increased loan amounts, longer repayment periods and lower interest rates.

› Want to know more?

Want to know more?

Homeowner loans can seem complicated on the surface, but we’re dedicated to helping you understand how they work and how to find the best deal available to you based on your personal circumstances.

The in-depth Frequently Asked Questions page aims to answer the most common questions applicants ask us, including repayment terms, what you can use homeowner loans for, qualification criteria, different repayment plans and more.

› Read our FAQs

8.4% APRC Representative. This means 51% or more of customers receive this rate or better. Representative Example: Assumed borrowing of £18,800 over 144 months, with a fixed borrowing rate of 5.803% per annum for the first 60 months, followed by 60 months at the lender's standard variable borrowing rate of 5.803% above Bank of England Base Rate. There would be 60 monthly instalments of £204.48 followed by 84 instalments of £204.48. Total amount payable £29,540.12 comprised of; loan amount (£18,800); interest (£10,740.12); Broker fee (£1,880.00); Lender fee (£495). This would result in an overall cost of 8.4% APRC.

Homeowner Loan Rates from as low as 3.47% variable. Our highest rate is 60.00%. Repayment periods available from 3-30 years.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

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