Why choose a homeowner loan?
Lower monthly repayments
Interest rates between 11.2%–28.1%
More lenders and higher limits
Quick and easy application
Plus advice from a fully qualified advisor
Cheaper rates, just for homeowners
Choosing a homeowner loan could give you access to cheaper rates and longer terms you wouldn’t get with an unsecured loan. That could help bring your monthly payments down, so you can find the money you need, at a price you can afford.
Borrow from £10,000
Searching won’t impact your credit score
Repay over up to 30 years
How it works
Tell Aro how much you want to borrow and a bit about yourself
They’ll quickly check your eligibility with their lenders
You decide if the loan offer is right for you
One of their qualified advisers will call you to complete your application
Need to know
A homeowner loan is secured against your property. Make sure you can afford the repayments for the duration of the loan. YOUR HOME MAY BE REPOSSESSED IF YOU DON’T KEEP UP WITH YOUR PAYMENTS. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. You may be able to apply for credit that doesn’t need to be secured against your home. Don’t borrow more than you can afford. It’s a good idea to set up a direct debit so never miss a repayment. Aro is a credit broker, not a lender.
If you’re struggling with debt or repayments, find out the next steps to take.
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Aro is a trading name of Freedom Finance Limited who are authorised and regulated by the Financial Conduct Authority. Aro is the UK’s go-to embedded finance partner for brands and one of the leading second-charge mortgage brokers. They offer interest rates between 11.2%–28.1% and terms from 1–30 years.
To be eligible for a homeowner loan with Aro, you must be a homeowner. All credit profiles are considered. Loan amounts from £10,000–£500,000. Must be a UK resident. Must be employed.
Aro work with many lenders, so you may find you have options, even if you’ve been rejected in the past. And because the loan is secured against your house, lenders may be more willing to lend to you. Nothing is guaranteed, but Aro will help you understand all your options.
Once you’ve had your advice call and decided to proceed with your loan offer, you’ll be assigned a case manager who will let you know how to complete your application. This usually requires a bit of paperwork, however you can send this securely via the Aro app, Nivo. The whole process usually takes around 10 days if you can return your paperwork in good time.
If you’re approved for a homeowner loan, you should receive your money within ten working days. You could even have it after 48 hours.
Your loan terms will be agreed when you choose a loan and lender. You’ll be told at this point how long you’ll have to repay and how much you’ll need to pay back each month. Aro offer loan terms from 1 year to 30 years.
Mortgage arrears are a ‘priority debt’ and should be paid before other debts like credit cards, as you could lose your home if you fall behind on payments.
If you’re struggling to pay back the loan you should contact the lender as soon as possible to discuss your options. They may be able to restructure your debt to make it more affordable or give you a short repayment holiday if this sort of temporary measure is likely to help.
Before changing the secured loan, you should understand how the change may affect you by getting independent financial advice.