You’re more likely to be accepted
If you’ve a good credit history, a homeowner loan should be cheaper compared to other types of loan. If you’ve a bad credit history, a homeowner loan could be easier to obtain. That’s because your property is used as security, giving lenders extra confidence.
Ocean’s homeowner loans range from £10,000 to £250,000, making them a good option if you’re looking to borrow a large amount of money.
Borrow for longer
As you’ll be borrowing a large amount of money, your loan term can often be more flexible, letting your pay it back over a longer time period at a rate you can afford.