If you're looking to borrow a large amount of money - over a long period of time, then a secured or homeowner loan might be an option.
Personal loans tend to be given for amounts up to £25,000 however with a homeowner loan you could borrow up to the region of £250,000.
Benefits of a homeowner loan include lower interest rates than many personal loans. This is why many people use this type of loan to consolidate their debts, as it could be a way of lowering your monthly repayments.
This loan search will not affect your credit rating in anyway
Once your application is underway, you can download an app to your phone to monitor every step of the jouney
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
9.1% APRC Representative
Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). This would result in an overall cost of 9.1% APRC.