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 Homeowner
loan services
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Whatever
you need a loan for we can help you, we offer a wide range
of loans from personal, secured, unsecured and consolidation
loans to business and property development loans. Apply for
your loan online today!
About
our UK homeowner loan services |
A homeowner
loan ties the loan into your property, which gives the lender
more security. This may enable them to loan more or to reduce
the rates they can offer, though you will need to make
sure you can re-pay the loan as your property may be at risk
if you cannot repay the amount you borrow. A homeowner loan
may be a good way of reducing your outgoings by consolidating
more expensive borrowing, such as credit cards or store cards.
You may also be able to raise more money than if you take
out an unsecured loan.
People
decide to take out loans for various different reasons, some
of the more popular loans are:
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Debt
consolidation loans |
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Home
improvement loans |
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Car
loans |
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Holiday
loans |
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Property
development loans |
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Inheritance
tax reduction loans |
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Career
change loans |
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Bridging
loans (commercial and residential loans) |
What if I have a bad credit history,
will this affect my loan application and what type of loan
I can get?
A bad credit history will not stop you from
getting a loan! We know that many applicants have what is
considered to be 'Bad Credit' through no fault of their own.
Our friendly and knowledgeable homeowner loan advisers aim
to to make sure that you get the loan you need no matter what
the circumstance. If you have any of the problems listed below
you will still be able to get a secured loan or unsecured
loan from a specialist loan provider:
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Mortgage
Defaults or Arrears |
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Adverse
Credit and Finance |
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Poor
Credit History |
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CCJ's
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No
Proof Of Income |
(You may
find that bad credit loans have higher interest rates and
will lend you a lower total sum.)
How do UK homeowner loans work?
Before you decide to enter into a secured loan
or unsecured loan agreement you should make sure that you
know exactly what you are doing, we have knowledgeable advisers
ready to answer any questions that you may have 7 days a week.
Unlike other specialist loan companies we are also qualified
independent financial advisers. Our loan advisers want you
to have the best product to suit your needs. Please read the
following loan information to gain a better overview of how
loans work.
DETAILED INFORMATION ABOUT OUR UK
HOMEOWNER LOAN SERVICES
The homeowner loan agreement
When you enter into a homeowner loan agreement – you
are signing a contract to make the repayments, by the specified
date every month for the length of the loan agreement. Any
deviation from this agreement may result in monetary penalties.
For example, some loan lenders apply an early settlement
charge (also known as a redemption penalty) if you repay
the homeownerloan in full before the agreed end date. This
can be up to 2 months interest. If you think you will be
able to pay off the homeowner loan before the end of the
term then your best bet will be to arrange a homeowner loan
with no early settlement costs, however the APR may be slightly
higher.
Flexibility within the homeowner loan agreement
If you would like some flexibility in your homeowner loan
agreement, make sure you arrange this before you sign on
the dotted line. You may be able to arrange occasional over-payments
and lump-sum payments, both of which allow you to clear
the homeowner loan over a shorter time period than first
agreed. If your homeowner loan is a truly flexible product
then you may also be able to use the fund as a bank account,
withdrawing funds from the account on a rolling basis, providing
you stay within your credit limit. Lenders also offer repayment
holidays, allowing you to defer your monthly cheap loan
repayments either at the start of the homeowner loan (known
as 'deferred repayment') or at an agreed point during the
term.
Interest on the homeowner loan
You are charged interest on the amount you have borrowed
with the loan – it is a percentage of the borrowed
amount which accumulates over the period of the agreement.
Interest rates on homeowner loans vary from 7% up to 20%.
The interest rate will be included in the APR. This stands
for Annual Percentage Rate, and includes the administration
cost of setting up the mortgage, any discount periods, how
often interest is calculated and also calculates what the
average rate of interest will be over the life of the homeowner
loan. To comply with the consumer credit act all lenders
must ensure that the borrower is informed of the APR (the
annual percentage rate on the homeowner loan).
Fixed or variable interest homeowner Loans
The APR can be a fixed or variable charge. A fixed APR has
the benefit of added security since the rate will not change,
a variable APR does not have this security but could reduce
the cost of your total payments if interest rates go down.
HINTS
AND TIPS WHEN TAKING OUT A HOMEOWNER LOAN IN THE UK
Look at the small print - although the homeowner
loan with the lowest APR is one factor that contributes to
a cheap loan, you should always pay attention to the small
print as any additional costs will be found there. If at any
stage you need further information about your homeowner loan
application then talk to our advisers, remember once you
submit
your homeowner loan application you still have a 'cooling
off period' which enables you to cancel.
Never borrow more on a homeowner loan than
you need - you will only pay more back in interest - the more
you borrow on a loan the more it costs you.
Only ever make one loan application at a time – even
if you don’t take the offer up all the loan applications
will sit on your credit record, and will not look favorable
for future finance applications.
Consider loan insurance and protection – if you lose
your job, have an accident or become sick, you will still
have to make your repayments in full so it’s a good
idea to take out loan insurance, especially as the loan is
secured on your home. We offer a huge range of income protection
products, if you would like more information on how to protect
your loan then click here
Stay in control - make sure you know exactly what the monthly
loan payments will be, and how much you will pay back in total.
Everyone’s different - lenders calculate the total cost
of a homwoener loan in different ways, so try and get some
understanding of the formulas they use.
Compare like for like – the low monthly interest rates
for homeowner loans in shop windows may look lower than the
yearly APR in another, but the only way to find out is to
carry out full calculations for both offers.
Check out the alternatives - you may be able to get a better
deal on a home improvement loan by going to your mortgage
lender rather than taking out a homeowner loan.
As one of the UK's leading online finance and
insurance providers, we offer a wide range of loans, these
can be seen below, if you would like to go directly to a particular
loan section then click onto the site search button at the
top of this page and type in the loan that you are looking
for.
we
Limited works in conjunction with a large panel of leading
lenders, banks and building societies. We are able to survey
the whole market in order to find the most suitable product
for you. We shall only ever recommend a course of action if
we believe it to be suitable for you.
intermediary loans
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