Homeowner Loans for Poor Credit
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
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
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 best 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 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
Homeowner Loans for Poor Credit
If you suffer from poor or adverse credit, it can be difficult to get a conventional personal loan from a high street bank or building society. With conventional loan lenders turning their backs on borrowers with less than perfect credit, you might have considered taking out a homeowner loan. These types of loans (also known as homeowner loans) are viewed as less of a risk by lenders as they can reclaim any debt from the value of your property if you fail to make the required loan payments.
Who might need a poor credit homeowner loan?
People can have poor credit for all kinds of reasons – perhaps you have missed payments on a previous credit agreement, or you have had a County Court Judgement (CCJ) against you in the past.
While borrowing against your home should always be carefully considered due to the risks of losing the property if you fail to make repayments, there are several ways in which a poor credit home loan could be useful as you rebuild your credit rating.
Firstly, homeowner loans can often be used as a way to consolidate your other debts, condensing them into one repayment, which could help you to avoid getting behind of repayments in the future. Secondly, having a loan and making repayments on time can help to demonstrate to other financial service providers that you are capable of managing your money responsibly and making repayments on time.
Am I eligible for a homeowner loan with poor credit?
For the most part, you’ll need to secure your loan against your home which is why homeowner loans are often referred to as homeowner loans. In addition to owning a UK property, homeowner loan lenders also usually ask that you set up a realistic repayment plan, and that you have a credit history. Whilst it is worth noting that many lenders are willing to offer finance to those with a less than perfect credit history, the amount you can borrow, loan terms and interest rates are likely to vary depending on your credit profile and circumstances.
However, it is worth taking into consideration that because your loan is homeowner against your home, failure to keep up with repayments can result in the repossession of your home. That’s why we recommend that you contact a mortgage broker to get advice on whether a homeowner loan is suitable for your personal circumstances.
Where can I find homeowner loans for poor credit?
The majority of secured loan lenders only work through authorised intermediaries, such as ourselves; which is why we recommend that you contact a mortgage broker to give you the best chances on getting a leading deal on your secured loan. In addition to giving you access to leading and exclusive secured loan deals, our team of specialist secured loan advisors can give you assistance and guidance throughout the whole of the application process, and even beyond this.