A Homeowner Loan or Secured loan as they are commonly referred to is borrowing secured against your property for any purpose. It will sit behind your main mortgage in order of priority on the land registry and works just the same as a normal mortgage.
A secured personal loan/Secured Financing can be used for any legal purpose and even people with bad credit can qualify.
A few reasons why a homeowner loan may be suitable for you instead of a remortgage: You’ve been declined by the high street for a re-mortgage but need to raise funds, there are early repayment charges on existing product, or you could be currently on an interest only and need to raise further funds.
There are lots of benefits to a Homeowner Loan. The best thing is, we will complete a full fact find and we will determine whether a secured loan is the best option for you. It could be bad credit, the need for a longer repayment period or simply just that you have a great rate on your mortgage, need further funds and a Re-Mortgage would lose you that rate.
You don’t have to worry, we’ll do the hard work for you and our fully qualified advisers will guide you fully along the way.