A homeowner loan is a loan secured against your house. It is another term for a secured loan; the difference is that a homeowner loan is always secured against your home, whereas a secured loan can be secured against any valuable asset. If you are looking to borrow a large amount of money (usually more than £25 000) for any purpose, even if you have a history of bad credit, a low interest rate homeowner loan might be the solution you are looking for.
The best way to secure the lowest interest rates and most flexible loan terms is to offer the lender collateral for the loan. A homeowner loan does just that, giving the lender a safety net in the event that you should fail to meet your repayments. In return, lenders offer more attractive deals on homeowner loans, generally making homeowner loans the most affordable way to borrow.
You can search for the UK’s cheapest homeowner loan deals without leaving this page. Totally Money will source the best offers available with our online homeowner loan comparison tool and give you free impartial advice on the best homeowner loan options for your budget.