homeowner loans are loans that you can obtain by securing the amount borrowed against the value of your home. The loan can be used for any reasonable purpose e.g. home improvements, debt consolidation, a new car, a special holiday etc.

Why choose a homeowner loan?

homeowner loans, also known as secured loans, are easier to obtain than unsecured loans because lenders will always prefer using property as security when lending money

•  homeowner loans sometimes come with a lower rate of interest than unsecured loans because of the property used to secure them

•  homeowner loans are fast because they are usually approved quickly and approval isn’t wholly dependant upon your credit status

•  A homeowner loan can help you to free the equity in your property, letting you make use of money without having to sell your home

•  As homeowner loans are secured on your home, most lenders will lend to customers who have CCJs, defaults and arrears. This makes secured loans available to those who might otherwise have difficulty borrowing money

•  homeowner loans are also available if you are self employed with no proof of income, or claiming DSS benefits or pensions because the loan is secured on your property.

Benefits of a homeowner loan

There are many advantages to taking out a homeowner loan:

1. It is a relatively low cost way to finance major purchases or home improvements and it is a great way to clear existing debts into a single, more manageable payment.

2. A homeowner loan can usually be processed very quickly which means you get your money fast and most homeowner loans can be repaid over a longer term than an unsecured loan.

3. You can use the money for almost any purpose:

• Home improvements
• A special holiday
• A new car
• To finance your child’s education
• To pay for a wedding or a civil ceremony
• A conservatory or extension
• And many other purposes

4. homeowner loans have lower rates of interest than unsecured loans because they are secured on your property

5. A homeowner loan can help free equity within your property, letting you make use of the money without having to sell your home

6. CCJs and arrears – no problem! The major benefit to homeowner loans is that they are available to people who may not have a perfect credit history.  If you have CCJs or arrears, or you have been made bankrupt in the past, other types of finance may not be easily available to you. However, because a homeowner loan is secured on your property and as long as you have sufficient equity in your property, there are usually no problems obtaining one.

7. On a low income? You can still qualify for a homeowner loan even if you are receiving pensions and benefits.  As long as you have sufficient income to cover the repayments

Phone a loan can find you a homeowner loan with features such as these:

•  An Early Payment Plan with 50% of payments for 3 months can be offered on all loans and mortgages greater than £25,001.

•  Discounted Rates of 2% for 1 year are available on business loans and mortgages greater than £25,001 and this can be combined with an Early Payment Plan.

•  Capital and Repayment or Interest Only options are available on all loans and mortgages

*Amount borrowed remains outstanding at the end of the term

If you are looking for a homeowner loan, let Phone a Loan help you find the right loan for you.  Click here today to start your application.