Looking for a Homeowner Loan? Request a Homeowner Loan Quote Today!

Secured UK Loans is pleased to offer UK homeowner loans at the most competitive rates and repayment terms. Homeowner loans are fantastic for homeowners who are looking for a low interest loan to consolidate debt, complete home renovations or make any other large purchase. 

  • Poor or bad credit is OK! With our homeowner loans homeowners with less than perfect credit can still get access to the money they need.

  • No additional fees! Using this quote service provided by Secured UK Loans is absolutely free. You will not pay any additional fees or penalties!

  • Self-employed applicants accepted! We understand that borrowing can be tough for self-employed applicants and we will work to find you the best option for a homeownerloan from a lender that will accept self-employed borrowers.

  • Competitive loan interest rates! Homeowner loans typically offer lower interest rates than unsecured loans, such as credit cards, and Secured UK Loans works on your behalf to secure the best interest rates possible!

  • Flexible repayment options! Secured UK Loans offers loan quotations with flexible repayment plans to work within your budget. Complete the form for a quote today and we will do everything we  can to offer a homeowner loan at interest rates and terms that work for your particular situation.

What is a Homeowner Loan?

What is a homeowner loan? This is a question that those that deal with various types of loans get all of the time. Let us take a quick look at the specifics of homeowner loans.

 

The first thing about a homeowner loan is to know that you need to own a home to get this type of loan, hence the name. The next fact to realize is that this is a type of secured loan; a secured loan is one that needs collateral. The collateral for a homeowner’s loan will be your home. The lending institution will put a second lien on your home in order to secure the loan.

 

By allowing a lending institution to put a second lien on your home, you are giving them the ability to take your home if you fall behind on your payments. The second lien holder will have as much right to your home as the bank that holds the original mortgage. This means that the second lender will go through an extensive process to ensure that you can meet the payments of the homeowners loan.

Benefits of Homeowners Loans

There are several benefits of a homeowner loan. The first benefit is that since this is a secured loan, your home is the security; it will have better interest rates and lower payments than other types of loans.

 

Another benefit is that since your home is the security lenders will give a longer payment schedule. It is not uncommon for a homeowner’s loan to be spread over 25-30 years, which also makes the payments lower.

 

Another benefit of homeowner’s loans is that you can get large amounts of money depending on the equity you have in your home. This ability to get large loans makes a homeowner’s loan useful for many purposes.

 

Many people will use these loans to purchase a new car; this gives them a lower interest rate than a car loan, and more years to pay for the car. Many people use these loans to pay for college, to renovate their home, or to purchase another home as an investment property. Another common use for a homeowner’s loan is to pay off high interest loans and consolidate them into one lower payment.

Consolidation Homeowner Loans

Homeowner loans are extremely beneficial for any homeowner nowadays that wants to purchase something expensive or simply needs more money. Getting a homeowner loan is quite easy and won’t involve any extra procedures.

 

The greatest benefit of a secured homeowner loan is for consolidating your higher interest debt. If you feel like you can’t keep your head above water at the end of each month due to crushing mortgage payments, student loans and car payments, it is time to consider applying for a debt consolidation loan.

 

A secured homeowner loan will allow you to combine all your loans into a single one, so that you will have only one loan with a lower interest rate than the others. This will allow you to relax more and even raise some extra money.

 

As a conclusion, getting a secured homeowner loan is more than beneficial if you want to consolidate the overwhelming higher interest debt.