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FREE HOMEOWNER LOAN QUOTES

Borrow £10,000 to £1 Million.
Homeowners Only.
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WHAT WE DO

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

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FREQUENTLY ASKED QUESTIONS

This is a loan which is secured against your home. This could be in the form of a mortgage or a secured loan (also known as a 2nd mortgage). With a Homeowner Loan you can borrow more and over a longer term when compared to unsecured loans and typically these loans are available through mortgage brokers. Your existing mortgage lender may be able to offer you a homeowner loan and this can also be known as a further advance.
As Homeowner Loans are secured loans, your property will need to be valued and this may be carried out through a physical inspection or depending upon the lenders criteria an online valuation could be completed. With homeowner loans these typically take 4 weeks to complete and many documents will be required such as Proof of Identity (Passport or Driving License) and Proof of Income (Payslips if Employed or Accounts is Self Employed) additionally the lender will have its own documents which will need to be completed. Your mortgage broker can walk you through the process.
This will depend upon many factors such as your property value, how much debt you already have secured against the property and what you can afford to borrow. A Mortgage Broker will review all these facts and complete a fact find which will include a full income & expenditure review to confirm how much you can afford to borrow and give you advice on your options.

Homeowner Loans

Homeowner loans are loans that are secured a home owners property and are, as such a secured loan. Homeowner loans are designed for people who usually want to borrow larger sums of money for a variety of reasons. These can include home improvements, cars, holidays, weddings or sometimes debt consolidation, for example to pay off other debts or credit cards. Needless to say, homeowner loans are available to people that own property that has equity. This equity in the property is the security which the lender requires and the equity should easily cover the amount of the loan with a little extra.

Typically home owner loans are between the amounts of £15,000 and £100,000 and often a homeowner loan term is between 5 and 25 years.

Lenders tend to be more lenient with people who do not have an excellent credit rating when applying for homeowner loans as they know that their money is safe in the equity of the property that the homeowner loan is secured against. This gives them the comfort and security to know that the loan will ultimately be paid by whatever means, although this is never the intention of the borrower.

Homeowner loans are repayment loans typically, which means that the amount of the loan plus interest is paid back over the loan period. At the end of the loan period all of the loan is paid back.

Homeowner loans are often offered with different payment profiles that may include fixed term interest rates over the first few years, thus guaranteeing the monthly repayment for a period, or may be variable rate whereby the homeowner loan tracks the Bank of England base rate and fluctuates accordingly.

It is worth noting that some lenders may charge extra fees if the loan is settled early, and the reason for this is that they will not ultimately receive all off the interest on the loan that they expected to.

Homeowner loans offer a relatively fast and easy access to a loan assuming the the borrower fits certain criteria, essential ones being that of course they own their own home but also that they have sufficient comfortable equity in their property to cover the full loan amount should any unforeseen circumstances arise. A homeowner loan is also a good option for a homeowner with a less than perfect credit score,and can help them to rebuild their credit rating over the period of the loan through making regular payments on time.

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