Homeowner loan has s distinct advantage when applying for loan in UK. A homeowner loan can be a good alternative for people not wishing to sell their home to get money from it. You can borrow money relating to the equity you have in your home. The loan will be secured on your home and this is a very normal transaction which will not affect your existing mortgage in any way. Homeowner loan UK is one of the more popular options, mainly due to the fact that borrower gets the best interest rates, and the ability to borrow larger amount of money. We have the various loan services like Cardiff Secured Loan, Norfolk Loans, Loans in Bristol, Wales Loan, Birmingham Homeowner Loan, Liverpool Consolidation Loan.
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Secured Homeowner Loan
A secured homeowner loan, as the name suggests, is a loan secured upon a property based on the equity available, whilst retaining your existing mortgage and attracts a lower rate of interest than an unsecured loan. A secured homeowner loan tends to be more flexible, easier and quicker to process and requires no upfront survey, legal or other fees. >> More on Secured homeowner loan
you are trying to raise a large amount
you are having difficulty getting an unsecured loan
you have a poor credit history
Personal Homeowner Loan
Homeowner personal loan normally comes with a lower interest rate than unsecured loans, as they are less of a risk to the lender. Also with this kind of personal loan you are able to get the option of making over-payments or under-payments. These loans are ideal for financing, a new car, luxury holiday, wedding, or maybe some home improvements. >> More on Personal homeowner loan
You will be able to borrow over a longer period of time (usually up to 25 years) to minimise your repayments for personal loan.
You will be able to borrow a larger amount
The lenders will be more flexible with their underwriting, making a personal homeowner loan possible when you may have been turned down for an unsecured loan.