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 Homeowner Loans

Compare 100's of Cheap Homeowner Loans & Save £1000s Now!

  • Compare 100's of Loans & Save
  • Bad Credit, Arrears? No Worries!
  • Free, No Obligation Quote
  • Homeowner Loans For Any Purpose
  • No Credit Check (Important!)
  • Best Homeowner Loans - Save ££!

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 Homeowner Loans

Homeowner loans are those that are secured against your home or property. Banks are often more willing to lend to homeowners based on the fact that the borrower’s home will be used as collateral or ‘security’. Also known as a ‘second charge’ on your mortgage, homeowner loans can provide a relatively low rate option for securing finance based upon the equity or ‘value’ of your home. Typically, the LTV, or Loan to Value ratio, helps lenders determine the maximum amount they are willing to lend you. They will consider the amount you wish to borrow compared to the value or ‘equity’ in your home. Some lenders only offer 85% LTV whilst other may be willing to lend you up to 125% LTV.

As a home owner, one of the most valuable assets you’ll ever own is your home. As time passes, your property gains equity and increases in value. The equity in your home can then be leveraged to borrow money. In addition, homeowner loans are often times easier to obtain than unsecured loans because of the home being used as security.

The majority of homeowner loans are offered between £5,000 and £100,000 however, there are lenders who offer as much as £250,000 or more. The amount you may borrow and the APR (Annual Percentage Rate) of the final loan product you receive will depend on several conditions. For example, your credit history will in large part determine the APR you receive. Ultimately, the rates available to you will depend on each lender’s risk assessment. Your credit will be scored based on recent credit activity and each lender will decide if you fit into 1 of 3 categories: excellent credit, good credit, or adverse credit.

How Can A Homeowner Loan Help me?

Most home owner loans allow you to borrow for any purpose. Generally speaking, the average borrower uses a homeowner loan for:

  • Consolidating debts: Being a homeowner with equity may be an ideal way for you to release capital for a consolidation loan. Loans for home owners have lower rates that smaller unsecured debts such as credit cards and other personal loans. Consolidating multiple debts into one easy to manage monthly payment can save you money and help you manage your debts more easily.
  • Home improvement: One of the best ways to reinvest in your home and possibly increase its value is to use your homeowner loan for remodelling purposes. Perhaps it’s time to get those double-glazed windows, or a new kitchen? By borrowing against the equity in your home whilst improving it is a very popular use for this type of loan product.
  • Buying a new car: Whilst most people tend to purchase new vehicles with a personal loan, a homeowner loan is also attractive because you can borrow more usually at a lower rate that an unsecured loan.
  • Education: Many homeowner’s use the equity in their home to help finance their child’s university education.

There are many reasons why a homeowner may choose to borrow against their home. However, there are caveats to consider. For example, since the loan is borrowed against your property, you will want to ensure timely repayments. It is recommended to budget the amount you borrow for your repayments and to only borrow that which you can comfortably afford to repay. Also, consider any extras that may be associated with the original loan amount such as payment protection insurance, any additional fees, early redemption penalties (if applicable) and changing interest rates if your homeowner loan is based on a variable rate.

It’s now easier than ever to apply for a home owner loan. Most banks and building societies, along with special credit lenders, are willing to lend to those who own their home. Rates vary as much as 5% to 30% and trying to find the best deal can be daunting to say the least. You’ll want to compare products and, with so many to choose from, it’s easy to feel unsure where to begin the search.

Here at the MoneyOutlet we make this search a breeze. Our huge network of UK loan brokers allow you to apply for your homeowner loan without the need to visit dozens of sites. You safely and securely provide your requirements and we immediately begin searching 100’s of low rate loans based on your needs. In addition to saving you time, you’ll receive a free, no obligation quote without a credit check (important!). By applying now you may qualify for repayment holidays and not have to make any repayments upfront for the first 5 to 6 months.

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 homeowner loan offers in today’s market despite your credit history.

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