Turn your home improvement hopes into reality
HOMEOWNER LOANS
Make your home fit
for purpose
An extension or en-suite loft conversion. New windows or unexpected repairs. Even a full-scale overhaul. Whatever home improvement you’re planning, these are exciting times – dampened only by the thought of finances halting your plans.
A Homeowner Loan can cast aside the doubt and give your renovations the green light. As a UK residential mortgage holder, you can take one out – secured against the equity in your property. This can mean you avoid the drawbacks of other borrowing alternatives.
You’ll be able to keep your existing mortgage rate and avoid the early repayment charge of remortgaging. You won’t be restricted by the limited criteria of a Further Advance. You won’t need to tell your existing first charge mortgage provider about changes of circumstance. And you won’t have to face the embarrassment of a straight ‘no’ from them, either.
WHAT IS A HOMEOWNER LOAN?
A Homeowner Loan – also known as a secured loan or second charge mortgage – allows you to borrow money using your property as security.
That means you can apply for one as a UK residential mortgage holder, even if your credit history isn’t perfect. You may also be able to borrow more at a lower interest rate than other types of loan – because the loan is repaid over a longer period.
It’s important you always pay on time with a Homeowner Loan; your home could be at risk of being repossessed if you don’t. It’s a good idea to talk to a broker first – they can recommend the right option for you.
PRODUCT BENEFITS
What a Homeowner Loan could give you
What really sets the Homeowner Loan apart is its flexibility and accommodating criteria – helping you enjoy the security and reassurance you deserve again:
Choose the product that’s right for you
Take advantage of fixed, discounted or variable interest rates
Wide range of borrowing
Our loans range from £5,000 to £1,000,000
Make the most of the money tied up in your home
Borrow up to 95% of your home’s value
Tailored to suit you
Choose the length of your loan: from 3 to 30 years
Avoid hidden fees
No legal costs, no extra fees if you overpay
Get a quick decision
We make loan offers within 24 hours; you get the money in 2-4 weeks
FIND A BROKER
start building
Interested in using a Homeowner Loan to fund your improvements? Speak to one of our trusted broker partners, who can talk you through your options and give you their recommendation.
LOAN CALCULATOR
Want to get an idea of how much you could borrow on a Homeowner Loan? We can help.
Mortgage product type:
Results
Loan Amount*
Monthly Repayments*
This is based on a borrowing over .Indicative Rate*
This indicative rate is based on our rate and our lending criteria for your LTV of .Total Repayable*
This is a sum of the loan amount, interest and an exit fee of . *Please note these results are indicative and are meant to be used as a guide only. Additional fees such as a broker fee and a lender fee may apply. These fees vary and will be set in line with each brokers pricing policy.
Should you wish to submit an application, it'll be subject to status, full lending criteria, a credit check and a review by a qualified mortgage adviser, which could result in a different product which has a different interest rate. Any changes are likely to alter both the monthly payment amount and the total amount payable. Results are based on a good credit profile.
Representative Example
Borrowing of £40,000, plus £595 lender fee, plus £3,000 broker fee, totalling £43,595, over 192 months on a 5-year fixed product with an initial borrowing rate of 9.2%, following a variable rate of 9.6%. There would be 60 monthly instalments of £434.49, following 132 monthly instalments of £442.52. Total amount payable £84,577.09, made up of: Mortgage Amount £40,000, Interest £40,887.09, Lender fee £595, Broker fee £3,000, Exit Fee £95. Overall cost for comparison purposes 11.4% APRC. Please be advised that any interest rate fluctuations, during the life of the mortgage contract, will affect the total amount repayable.
ARTICLES & BLOGS
If you’d like to dig deeper, read our articles and blogs for the best Homeowner Loan content and insight.
How long is a mortgage offer valid?
How to pay off credit card debt
Porting a mortgage: everything you need to know
Do secured loans show on your credit report?
How long does a mortgage application take through a broker?
