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Homeowner Loans
Don’t be a minion, always be an owner
Homeowner loans are loans in which your property is used as security, since homeowner loans are
secure loans; you are likely to get flexible terms.
secure loans; you are likely to get flexible terms.
HOMEOWNER LOAN
“Our trained advisors will search a number of UK lenders for the best secured loan option for you.”
– Homeowner Loans are secured loans that are simple and tailored to your needs.
Homeowner loan comparisons provided by Leodis Financial.
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In one quick and easy search, you may compare homeowner loans from a variety of Lenders.
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Use our clever search tool to locate the best house loan without affecting your score.
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Compare the benefits and drawbacks of homeowner loans to other options including personal loans and peer-to-peer lending.
“A lender will almost certainly want to know what you intend to spend the money on”.
Homeowner Loan Key Points:
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Homeowner loans are backed by the value of your home.
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Rates are likely to be lower than personal loans, but your home is more likely to be repossessed.
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The amount you can borrow, the period, and the interest rate are all determined by the value of your home, Your credit history, and your personal circumstances.
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The value of your home, your credit history, and your personal circumstances all influence how much you can Borrow, for how long, and at what interest rate.
Need Our Help? Please call us on 01274 028 019
Our UK-based team is ready to assist you throughout the duration of your loan.
Our UK-based team is ready to assist you throughout the duration of your loan.
Contact Us Now.
What is Homeowner’s Loan?
Homeowner loans are loans in which your property is used as security. The lender has the legal right to sell your property in case you fail to keep up with your repayment. Since homeowner loans are secured loans, you are likely to get flexible terms.
In case you don’t own your property outright but have a mortgage then only your share in the property will be used as collateral. The homeowner loan you can get depends on the amount required, your share of equity in the property and to a certain extent, your credit history.
Leodis Financial maintains a healthy network of homeowner lenders who are willing to offer flexible terms at a reasonable rate. Depending on your requirements and individual circumstances, we approach the lenders who are willing to offer the kind of deals you need.
Leodis Financial helps you breeze through the process of securing a homeowner loan. Whether it is handling the paperwork or talking to the lenders on your behalf, we take care of everything so you can focus on what matters the most.
We are professionals in locating the best loan for your specific needs. By exploring a large panel of lenders to compare 100s of loan options, our straightforward comparison procedure removes the headache of applying several times.
Because your home serves as collateral for the loan, lenders may view you as a reduced risk and offer you lower interest rates. However, if you are unable to repay the loan, your home may be at jeopardy.
Because your home serves as collateral for the loan, lenders may view you as a reduced risk and offer you lower interest rates. However, if you are unable to repay the loan, your home may be at jeopardy.
A secured loan, also known as a second charge mortgage or a secured loan, is a loan that is secured against your home. If you need to borrow a big sum of money or have a bad credit history, homeowner loans can be helpful. They are commonly used to finance home improvements, debt consolidation, and significant purchases.
A home equity line of credit can be used for nearly any legal purpose. Debt consolidation, house improvements, car purchases, and wedding payments are all common reasons for people to take out homeowner loans.
If you have had credit problems in the past, a secured loan may be easier to obtain than a standard loan. A bad credit history does not rule out the possibility of obtaining a secured loan. If you have any concerns about your credit history, please call one of our expert counsellors on 01274 028 019 and they would be pleased to discuss your options with you.
Homeowner loans are divided into several categories.
There are three categories of homeowner loans to choose from in general:
Homeowner loans with a fixed rate for a set period of time (Short-term fixed rate)
This type of product requires you to pay a certain sum each month for the duration of the fixed rate (usually between one and five years).
Your payments will then revert to the lender’s usual variable rate, which could increase or decrease.
Homeowner loans that are fixed for the term (Fixed for term rate)
Fixed-for-term loans require you to pay a set amount every month for the duration of the loan, giving you peace of mind that your payments will not fluctuate and the flexibility to budget your expenses.
Homeowner loans with variable interest rates (Variable rate)
The interest rate you pay may fluctuate depending on the Bank of England base rate or market factors with variable rate arrangements. This implies that your monthly payments and the total amount you pay back during the term may change.
If interest rates rise, you may have to return much more than you planned or, in the worst-case scenario, you may be unable to make your payments.
“A lender will almost certainly want to know what you intend to accomplish with the money.”
There are three categories of homeowner loans to choose from in general:
Homeowner loans with a fixed rate for a set period of time (Short-term fixed rate)
This type of product requires you to pay a certain sum each month for the duration of the fixed rate (usually between one and five years).
Your payments will then revert to the lender’s usual variable rate, which could increase or decrease.
Homeowner loans that are fixed for the term (Fixed for term rate)
Fixed-for-term loans require you to pay a set amount every month for the duration of the loan, giving you peace of mind that your payments will not fluctuate and the flexibility to budget your expenses.
Homeowner loans with variable interest rates (Variable rate)
The interest rate you pay may fluctuate depending on the Bank of England base rate or market factors with variable rate arrangements. This implies that your monthly payments and the total amount you pay back during the term may change.
If interest rates rise, you may have to return much more than you planned or, in the worst-case scenario, you may be unable to make your payments.
“A lender will almost certainly want to know what you intend to accomplish with the money.”
Early Repayment Fees
If you pay off your debt early, some lenders may charge you a penalty (because they will not be earning the interest they expected). The cost will differ depending on the lender and the product.
Transfer Fees
For same-day transfers, lenders may levy a fee. You can normally avoid this cost with standard transfers (which take two to three working days).
Other fees, such as arrangement fees, should be thoroughly examined in the terms and conditions.
If you pay off your debt early, some lenders may charge you a penalty (because they will not be earning the interest they expected). The cost will differ depending on the lender and the product.
Transfer Fees
For same-day transfers, lenders may levy a fee. You can normally avoid this cost with standard transfers (which take two to three working days).
Other fees, such as arrangement fees, should be thoroughly examined in the terms and conditions.
Criteria for Eligibility
Many products have tight eligibility requirements, such as age (you must be between the ages of 21 and 65) and residency.
In most situations, you must have lived in the UK for at least three years, have a bank account, and a steady source of income.
Many products have tight eligibility requirements, such as age (you must be between the ages of 21 and 65) and residency.
In most situations, you must have lived in the UK for at least three years, have a bank account, and a steady source of income.
Keeping a homeowner loan safe
Although a homeowner loan may be less expensive than an unsecured loan, it is a significant financial commitment. If you don’t make your payments on time, you risk losing your home.
As a result, you should only consider this option if you’re certain you’ll be able to make the monthly installments.
It’s worth obtaining an insurance coverage to protect your homeowner loan if you know you can afford it but want to secure your repayments in case you become ill or lose your job.
The payment protection insurance (PPI) scandals have tarnished the entire income protection market, yet the appropriate policy can assist deliver genuine peace of mind.
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