Compare Cheap Loans at the Money Outlet! Whether you need a cheap personal loan, low rate homeowner loan, or have been denied by your bank due to an adverse credit history, we've got great news for you! Because the Money Outlet works with a large network of UK lenders and brokers we're able to find You cheap finance no matter your credit history. Apply Now for a free "best deal" quote & save!

It's easy to start saving >>

Up To Date Finance News

Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

 

 

AddThis Feed Button
1. fill in a few details
2. follow the easy steps
3. receive best quote

Compare Home Equity Loans

Compare 100's of Cheap Home Equity Loans & Save £1000s!

  • Compare 100's of Loans & Save
  • Bad Credit, CCJs? No Problem!
  • Free, No Obligation Quote
  • Home Equity Loans For Any Purpose
  • No Credit Check (Important!)
  • Save Time & Money Now

Apply Now


Submitting Details...
Step 1 of 3About your loan
 
 
 
 
 
 

Step 2 of 3About your loan

Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible.

Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Step 2 of 3About your loan

Based on your information we recommend you speak to a personal debt adviser.

They will offer you advice on:
  • Whether a loan is your best option
  • Consolidating your debts
  • Reducing the amount you owe
  • How to freeze your interest payments
  • Protecting you from creditors

Step 3 of 3Your details
 
 
 
 
 

 
 

Finished


Thank you for your enquiry.

Your adviser will be in touch with you shortly.


Compare Home Equity Loans & Save

Home Equity loans are loans made available for homeowners. Considered as a second charge on your mortgage, this loan type uses your home as collateral or security. You’ll often find that a home equity loan offers lower rates and longer repayment periods.

Compare 100's of cheap home equity loans in 2 minutes here at the MoneyOutlet. Simply fill in the form and receive your free, no obligation home equity loan quote and save!

How Does A Home Equity Loan Work?

Your home is an asset. Over time, this asset gains equity as the market rises and the value of your home increases. A simple explanation of home equity is the current value of your home minus the mortgage debt still owed including any other loans secured on the property. This determines the equity or ‘value’ of your home. You can then borrow against this equity to raise capital for almost any purpose.

Typical Purposes For Home Equity Loans:

  • Debt Consolidation: Often times people will use the financing they raise as a consolidation loan in order to manage one or more unsecured debts such as credit cards, unsecured loans, car finance, etc. By combining several high interest debts into one manageable repayment is not only helpful but can end up saving you a lot of money!
  • Home Improvements: Using the equity in your home to re-invest back into your property is very common and a smart way to spend some, or all, of the amount you borrow. Examples of home improvements include purchasing double glazed windows, that conservatory you always wanted, and new kitchen or bathroom, or any other remodel project.
  • Education: Paying for your child’s education is finally upon you. University fees, books and materials, rental accommodation are all part and parcel with getting an education. A home equity loan can provide the much needed funds to help pay for further schooling.
  • Car Finance: Needing to purchase a new or used vehicle is something we all face on occasion. Home equity loans can provide you the cash you need to purchase your car quickly and hassle free.
  • Holidays: With holiday packages and flights becoming more affordable, there are still costs involved that may be out of budget. Often times borrowers may use a portion of their equity loan for another purpose, such as home improvements, while setting aside an amount for a family get-away.

How much can I borrow?

Generally, lenders will consider many factors when determining the amount they are willing to lend. They may first begin with factoring the amount of equity in your home. This is typically evaluated based on certain factors, such as:

  • The current market value of your home
  • The amount you still owe on your mortgage
  • If you have any other debts secured on your home, such as a secured loan
  • Typically, home equity loans range from £5,000 to £100,000 or more

Once the lender has determined the total equity in your home, they will then make an initial decision as to how much then will lend to you. This evaluation is called LTV, or the Loan to Value ratio. For example, if your home is worth £180,000 and the mortgage debt you still owe is £50,000 and you have no other secured debts against your property, you have £130,000 of equity from which you may borrow.

It is wise to discuss with your lender the appropriate amount you should borrow. Try not to borrow more than you can comfortably afford to repay and even before the money is transferred to your account, set up a repayment schedule to ensure timely monthly payments to avoid any adverse credit marks and possible late payment penalties. With a bit of prudent planning, a home equity loan can be an excellent choice is raising finance for your needs.

The APR available to you will also depend on your credit history and ability to repay the loan. Most home equity loans offer rates between 5% and 15%, or possibly higher depending on your credit score. While some lenders do not offer equity loans to those with bad credit, there are many who can help.

Here at the MoneyOutlet we work with a vast network of UK loan brokers and lenders offering home equity loans to all UK homeowners, even if you have poor credit, CCJ’s, mortgage arrears or filed for bankruptcy. You safely and securely provide your requirements in the form above and we immediately begin searching 100’s of low rate loans based on your needs. You’ll receive your free, no obligation quote without a credit check (important!).

Why not see how we can help you today? Use www.moneyoutlet.co.uk to search and compare online and help find you the best available home equity loans in today’s market no matter your credit status. Apply Now to save time and money.

Published on September 17, 2007

Latest Loan Articles

Council Tax Bills In England Set To Rise By 3.9%

Council tax bills are expected to rise by an average of 3.9% in April. Costs of policing and employing more Community Support Officers have risen sharply thus affecting the decision to raise the tax. Local Government Minister says there is no excuse for this tax increase because councils could be saving as much as £1.5bn by simply cutting waste and reinvesting in local services... Read More
February 29, 2008

Will Personal Insolvencies Rise As Spending Surpasses Average Income?

Now that the credit crunch is firmly affecting the UK, personal insolvencies are expected to rise in 2008. Consumers prior to the last quarter of 2007 were able to access credit cards, loans, and mortgage products almost irrespective of their credit history. Living costs and expenditures on non-essential items are outweighing average earnings leaving many UK homeowners unable to make repayments and relying dangerously on credit cards bail them out... Read More
February 5, 2008

PPI Profits Sustain Personal Loan Market

Payment Protection Insurance offers huge profits for lenders who sell this product. PPI is a type of protection for the mortgage, loan, or credit card borrower in the event they become unemployed or for some reason cannot make their repayments. However, PPI is expensive and limited in its cover whilst many buyers often are unable to claim on it. The FSA is levying heavy fines to firms that mis-sell Payment Protection Insurance... Read More
February 1, 2008

More People Live In Fear Of Bankruptcy Or Repossession

Recent reports by experts and analysts reveal a real 'frenzy of fear' amongst many UK consumers. Due to the current credit crisis, rising mortgage costs, increasing inflation, and rising utility bills, homeowners and consumers alike are finding it difficult to manage. Home repossessions and bankruptcies are expected to rise this year and some say the 'fear' could be a good thing for consumers to tighten their spending... Read More
January 31, 2008

Northern Rock Looks Set To Be Nationalised

The threat of nationalising Northern Rock has shareholders worried. Investors were warned last week they could lose their invested money if the bank is sold. David Cameron is criticizing ministers for the takeover, saying the nationalisation of Northern Rock would be a final blow to Gordon Brown's economic credibility. ... Read More
January 16, 2008

Read all Loan Articles

Refer a Friend

Why not tell a friend about Money Outlet? Click here

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Web Site Development by PRO IT Service - Site Sponsors: Play Bingo UK