Halifax Homeowner Loans

Top deals

Top rate

AA

5.3%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.3% so if you borrow £10,000 over 5 years at a rate of 5.3% (fixed) you will repay £189.52 per month & total amount payable £11,371.03.

Post Office

5.9%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.9% so if you borrow £10,000 over 5 years at a rate of 5.9% (fixed) you will repay £192.15 per month & total amount payable £11,529.01.

Santander

6.3%
£7,500 - £15k
1-5 years

Check eligibility Representative Example: The representative APR is 6.3% so if you borrow £10,000 over 5 years at a rate of 6.3% (fixed) you will repay £193.91 per month & total amount payable £11,634.61.

Shawbrook

6.6%
£10k - £500k
3-25 years

Check eligibility Representative Example: The representative APR is 6.6% so if you borrow £10,000 over 5 years at a rate of 6.6% (fixed) you will repay £195.23 per month & total amount payable £11,713.96.

If you are an existing Halifax mortgage customer, you may be able to borrow more with a homeowner loan.

Homeowner loans are a type of secured borrowing where the money you borrow is tied to your home. The amount you can borrow will depend on the value of your home.

The maximum amount you can borrow will be based on a percentage of the value of your home, minus the value of any debt (e.g. your mortgage) already secured against it. The combined total of debt secured on a property relative to the property’s value is known as the loan to value ratio (LTV).

Why choose a Halifax homeowner loan?

With a Halifax homeowner loan, you can:

Borrow from £10,000 upwards
Borrow up to 85% of your property’s value (minus existing secured debt)
Repay over the same term as your existing mortgage
Pay no arrangement fee (although a product fee may apply in some cases)

Who can get a Halifax homeowner loan?

To qualify for a homeowner loan from Halifax, you must:

Have an existing Halifax mortgage
Have had your mortgage for more than 6 months
Be up-to-date with all of your payments

How much does a homeowner loan cost?

The cost of a homeowner loan is mainly determined by the interest rate you pay. This will affect both your monthly repayments and the total amount you have to repay over the lifetime of the loan.

The interest on your loan will be affected by a number of things, including:

How much you borrow
The length of the loan term
How much debt (secured and unsecured) you already have
Your loan-to-value ratio (LTV)
Your credit rating

Homeowner loans versus remortgaging

One common question with additional secured borrowing is whether it is better to simply remortgage, rather than taking out a separate secured loan.

The advantage of taking out a separate secured loan is that it doesn’t disrupt your existing mortgage. If you are happy with the interest rate you are currently paying on your mortgage, it may be simpler and cheaper to take out a separate loan.

However, if you think you can get a better deal than your current mortgage is offering, remortgaging may be worth considering.

Ultimately, with Halifax the total amount you can borrow will likely be the same whether you remortgage or take out a separate secured loan, as your total available borrowing will still be based on a percentage of your home’s value.

Get the best interest rates on Halifax homeowner loans

If you are looking to take out a homeowner loan with Halifax or any other lender, it is important to shop around and compare interest rates and other loan features before making a decision. The interest rate you are charged will make a big difference to your monthly repayments and the total you end up repaying.

The homeowner loan comparison table at the top of this page shows our pick of the best value secured loan deals from across the market. We keep this table regularly updated, making it the perfect resource for anyone keen to find the best deals currently available on secured borrowing.

How much do you wish to borrow?