Desperate for a ‘Home Owner’ loan?
Homeowner loans are a popular secured loan where your home is used as security to the lender for the money you borrow.
How much you can borrow with a homeowner loan depends on how much equity is in your house. While the lender benefits from the peace of mind of knowing that the loan is secure, there are many benefits to the consumer of homeowner loans
Firstly, compared with unsecured loans, homeowner loans allow you to borrow a larger amounts from £5,000 to £250,000+. The repayment period can also be longer, between 1 to 25 years.
With a homeowner loan, you can keep your current mortgage, so you don’t need to remortgage in order to realise the value of your equity and homeowner loans usually have a lower rate of interest than unsecured loans.