
What is a Secured Loan / Homeowner Loan?
A secured loan was been designed for homeowners so that they could use the value of their property as security for a loan. Basically the borrower pledges an asset, generally their home, to the lender to ensure payment of the loan. As security is provided, a low cost homeowner loan can generally be a cheaper option than an unsecured loan.
Advantages of UK homeowner loans
There are a number of advantages to a secured loan UK:
- Being secured on your home the loan lender has a 'guarantee' and will normally offer lower interest rates, lower monthly repayments and a larger potential loan. Therefore a cheap secured loan could be ideal for you.
- Secured loans offer more flexibility with your money as they can normally be used for any purpose such as consolidating your debts into more manageable repayments or home improvements.
- Less than perfect credit history? It doesn't matter, let us try to find a secured loan to suit you. Our homeowner loan quotes are free so what have you got to lose?
What can you use secured homeowner loans for?
As homeowner loans provide security to the lender that the loan will be repaid, they can generally be used for any purpose from debt consolidation to holidays to weddings. The term you take your secured loan over will usually determine your monthly repayment amount. If during the term of your homeowner loan you decide that you want to repay it earlier than agreed, you may be charged a penalty depending on the terms of the policy which will vary from lender to lender.
In order to get a low cost homeowner loan and to ensure you get the best deal for you circumstances, we would recommend that you discuss your secured loan with an independent adviser. You can talk to us on 0870 779 7000, contact us here or we can call you back.
How do I get a cheap secured loan UK?
Independent loan brokers, like MoneyClick, will have numerous lenders that they search through to find the best rate for your circumstances. This takes the hassle out of your secured loan search as many companies will be explored to find the best rate available to you.
Secured homeowner loans are available from your bank or building society and other lending institutions such as independent loan brokers. However your bank or building society will only offer their own products and generally have quite strict selection criteria.
How can MoneyClick help with a low cost homeowner loan?
We have a dedicated team of advisers on hand to answer any queries you might have and a committed panel of lenders to search through to find the best loan for you.
Dealing directly with specialist money providers, we can offer low cost homeowner loans for any purpose, even if you have a poor credit history. Use one of the options below for a cheap secured loan:
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If you feel none of the above information can advise you of the best product for your needs, please complete an enquiry form or click on one of the links below.
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