A home loan usually means a homeowner loan or a loan secured on your property. Secured home loans are the only option if you are looking to borrow a large amount and in general offer a lower interest rate than unsecured loans unless you have a near perfect credit rating. If you are looking for a home loan to finance a house purchase you need a mortgage. Please visit our Totally Money Mortgage section and compare all the UK’s cheapest mortgage rates.
With a homeowner loan, as the loan is secured against the property itself, if you fail to keep up with your repayments, the financial lender is able to repossess the property to settle the loan. You can usually take out a payment protection plan that insures you against a variety of events that might prevent you from being able to meet your repayments and avoid risking your home.
The many different types of home loans available in the UK can be overwhelming. It can be hard to decide which sort of home loan is best for your situation, let alone the best deal available for that type of loan. Totally Money will give you free, impartial advice based on your own personal set of circumstances to help you find the most affordable option.
Fill out the form to the right and we will put you in touch with an expert independent adviser to guide you through the home loan labyrinth to find your best-rate home loan today.