Check your eligibility in 60 seconds!
We’ll search 100s of deals from our trusted panel of lenders to find you a homeowner loan you’re likely to be accepted for – all in under a minute. From UK homeowner loans for poor credit borrowers to many other options, to put your mind at ease, we only do a soft search so it won’t affect your credit score.
- Find homeowner loans you're likely to be accepted for before you apply
- See real loan rates based on your personal details
- It won't impact your credit score
Homeowner loans are secured against your property. We are a broker and we arrange secured loans from a panel of lenders. We receive commission upon completion. A fee of 10% of the net loan amount, set at a minimum of £995 and capped at a maximum of £3995 is payable upon completion and can be added to your loan. Loans are subject to status, the rate you are offered may change based on your individual circumstances.
Is a homeowner loan like a personal loan?
In some ways, yes, they’re similar. However, the main difference between the two is that you must be a homeowner to apply for a homeowner loan.
Homeowner loans are usually for a larger amount of money compared to a personal loan – around £10,000 to £100,000. They can also be repaid over a longer time period – from 3 to 25 years.
Plus, lenders can be more flexible with homeowner loans as they’re secured against property. So, even if your credit score isn’t 100%, you may still be eligible for one.
How does a homeowner loan work?
Applying for a homeowner loan and paying it back works in much the same way as with any other kind of loan.
Once the loan is agreed and you have your money, you’ll make monthly payments to the lender until it’s been paid off.
You can use our calculator to see what your repayments will look like before you apply to make sure they’re a good fit with your budget.
Is a homeowner loan bad for my credit score?
No, a homeowner loan isn’t bad for your credit score.
In fact, it’s often an option for people who struggle to get other types of loan because their credit history is less than perfect. A homeowner loan may be easier to get hold of, since the lender has the added comfort of having property offered as security.
What’s more, keeping up with your repayments could help to improve your credit score over time.
What can I use a homeowner loan for?
You can use your loan for almost anything you like – whether it’s just for one thing, or for a number of different purposes.
Popular uses for homeowner loans include: home improvements, a new car and debt consolidation (using the loan to repay existing unsecured loans and credit cards to reduce overall monthly outgoings).
Is a homeowner loan the same as a secured loan?
Secured loans are often known as homeowner loans simply because they're only available to homeowners.
You can secure a homeowner loan against your home, or even a different property that you own. We also have loans you can secure against buy-to-let properties.
Since they're secured, you're more likely to be accepted, as lenders are generally prepared to be more flexible.