Compare Homeowner Loans
Find the best UK homeowner loan deal
If you are looking for a homeowner loan, our service can help you find the most competitive deal in the UK market.
Our service provides:
- Home owner Loans from £3,000 to £2.5m
- Adverse Credit and CCJs loan applications considered
- Loans Up to 30 years
- Leading UK secured lender deals compared
Our homeowner loans service is provided by Fluent Money.
Testimonials:
Everything was carried out fast and efficiently from start to finish making the whole process easy and hastle free.
Terence, North Lanarkshire - 04/10/2017
Excellent from start to finish. Our advisor Helen was always on hand and was very methodical and precise. Helen always kept us up to date on our application...
Kevin P , Essex - 03/10/2017
Get a secured loan quote today »
Representative example:
Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). This would result in an overall cost of 9.1% APRC
Let us help you find the homeowner loan deal
If you are looking for a homeowner loan, we can help you find the most competitive deal on the market.
As well as offering homeowner loan lenders for people with good credit histories we also work with secured homeowner loan brokers who search the UK secured loans market to find you the best rate.
- Secured Loans from £3,000 to £2.5m
- Adverse Credit and CCJs loan applications considered
- Loans Up to 30 years
- Leading UK secured lender deals compared
Compare Homeowner loans
How homeowner loans work
Homeowner Loans also known as secured loans can be secured against a property with which you have an existing loan you are still paying off. This is because they are secured under what is known as a ‘secured’ basis while your original loan is done so under a ‘first charge’ basis.
What this essentially means is that if you failed to keep up with your repayments to a lender, either of them could go to court to order a repossession of your home, if this was to happen then once the property was sold the capital would first be used to repay your debt to the first charge lender as they have priority, what was left would then be used to repay the secured lender up the value of the outstanding debt.
Factors to consider when looking for a homeowner loan
- Advertised Rates – Headline rates are usually used by lenders to attract customers. However, by law these rates only need to be offered to 51% of successful applicants.
- Requirements – Like any financial product each lender will have their own set of borrower criteria.
- Early repayment fees – Some lenders will charge a penalty if you repay the loan early (because they will not be earning the interest they expected.
- Availability of funds – Lenders may charge a fee for same day transfers (Which can be avoided with 2-3 working days).
- Other fees – some lenders may charge for other fees e.g. arrangement fees.
- Payment Breaks – Some lender offer ‘payment holidays’, while these can be beneficial if finances are tight, it might increase the total amount you repay.
How to compare secured loan deals
Secured loans are subject to market forces and competition amongst providers, there are multiple providers whose rate changes regularly with low rates of interest being used in order to attract customers. In addition to this, the terms of the loan you are offered are also likely to depend on your personal circumstances, which is why we recommend contacting a mortgage broker.
Many secured loan lenders now only work through independent intermediaries such as ourselves, which it is why it is important to gain assistance from an authorised mortgage broker. We work with the majority of secured loan lenders, which means we can compare leading and exclusive rates to bring you the best deal possible to suit your personal circumstances.