Secured Homeowner Loans
Let us help you find the best secured homeowner loan deal
If you are looking for a secured homeowner loan, we can help you find the most competitive deal on the market.
As well as offering home loan deals offered by lenders for people with good credit histories we also work with secured loan brokers who search the UK secured loans market to find you the best rate.
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Secured Loans from £40,000 to £2.5m
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Adverse Credit and CCJs loan applications considered
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Loans Up to 30 years
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Leading UK secured lender deals compared
For the latest secured loan deals see the latest deals above or contact us on 0117 313 8872 or complete our loan enquiry form
Secured Homeowner Loans
Secured Homeowner loans are debts that are secured against a property and consequently are only available to homeowners with equity. These type of loans are commonly considered by borrowers looking to lend larger amount of sums, and for the loan length to be over a considerable period (usually between 5 and 25 years).
The amount you will be able to borrow is likely to vary from borrower to borrower, with lenders taking your personal circumstances, credit history and amount of equity you own in a property into consideration.
Types of secured homeowner loans
Generally speaking, lenders can typically choose from three types of homeowner loans.
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Short-term fixed rate secured homeowner loans – With this type of loan you pay a fixed amount every month throughout the short term of the fixed rate (usually between 1 and 5 years). Your repayments will then revert to the lenders standard variable rate, meaning your repayments could go up or down.
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Fixed for term secured homeowner loans – With fixed-for term deals you pay an agreed fixed amount every month throughout the term of the deal; a less risky investment as your repayments will not fluctuate throughout the entirety of the loan.
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Variable rate secured homeowner – With variable rate loan packages, the interest rate that you pay may fluctuate depending on market forces or the Bank of England’s base rate. Whilst this type of secured loan is seen as slightly more risky, there is a potential to pay a lower rate should the Bank of England base rate drop below the fixed APR.
Other Considerations of Homeowner Loans
When deciding which secured homeowner loan to go for, there are a number of other factors that you should take into consideration.
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Early repayment fees – If you repay the debt early, a lender might charge a repayment fee as they will not be receiving as much interest as they expected.
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Other fees – Some lenders might charge additional fees such as arrangement fees.
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Eligibility criteria – Many lenders have set of requirements to determine your eligibility
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Payment breaks – Some lenders offer ‘payment holidays’, although these could result in the total amount you have to repay being increased.
How to find the best secured homeowner loan?
Secured homeowner 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 homeowner loan lenders also 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.
For the latest secured loan deals see the latest deals above or contact us on 0117 313 8872 or complete our loan enquiry form