Jump to section
Homeowner loans are simple, secured loans that allow you to borrow larger sums of money than unsecured or personal loans. You may want to build an extension, consolidate personal debts or pay for lifetime experiences such a dream holiday or a family wedding.
Friends Capital have existing relationships with lenders of Homeowner loans. We can help you find the best deal possible. We will review your personal circumstances and then search the entire market to ensure you get the best rates possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can:
With a homeowner loan, you’re able to borrow larger amount as long as you have sufficient equity in your home. The amount you borrow is ‘secured’ against the value of your property.
Homeowner and personal loans are similar. The key difference is, with a homeowner loan, you are securing the loan against your property. You simply cannot get a homeowner loan without owning a property. This means that if you do not make your payments, your home can be repossessed. Also, the amount you can borrow is much higher with a homeowner loan. Homeowner loans typically range from £25,000 – £500,000 with the average amount borrowed on a secured loan around £45,000, and can be paid back for up to 25 years.
Personal loans are not secured against anything, making the lend riskier for the lender, therefore the interest rates are generally higher. The repayment period is also much shorter and the amount you can borrow is much smaller.
Lenders are often able to offer much larger loans to homeowners due to the safety in securing your loan against your property. Typically loans amounts range from over £25,000 up to £500,000 in some instances. depending on the equity available within your property.
You can use your loan for almost anything. You can spend the full amount on a major expense or put it towards a handful of different purposes. We’re not here to tell you how to spend your money – we just want to make it easier for you to get the finance you need. For larger loans such as home improvement or extensions a lender may require proof of planning permission or builders plans but talk to your broker in the first instance.
Friends Capital have existing relationships with lenders that specialise in homeowner loans. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that are most appropriate to your personal circumstance. We can:
One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation.
When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available.
If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’.
If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf.