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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.
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