Finance >> Home Loans >> Homeowner Loan

Homeowner Loan

Looking for a Home Loan? Financemate will give you the best deal. We shall guide you to make the best choices.

Solve your financial worries with a home owner loan!!

A Homeowner Loan is a lending option that allows homeowners to raise funds by keeping their home as collateral. Homeowner loans are approved easily by lenders because the borrower provides collateral in the form of his home. And, since the borrowers provide collateral therefore lenders are willing to offer these loans at lower interest rates and other attractive terms. A home owner loan can be used to meet many of your requirements like financing studies of the children, medical expenses, home renovation etc.

A Home Owner Loan comes as an advantage to those home owners who are suffering from adverse credit history. Lenders are generally wary of providing loans to such borrowers but they will be willing to offer homeowner loans as it guarantees that they will not lose their money.

Majority of the population doesn’t know where to begin when it comes to getting a home owner loan. That’s why they end up paying higher interest rates then what they deserve. We can help people in UK making informed choices with our online services. We can help them in finding out the best home owner loans deal from our partnering lenders. All you need to do is to fill a short application form which hardly takes more than a minute to fill.

Once we know about your details then we will help you determine the amount you can borrow as loan. We will also get you quotes from various lenders which will help you in determining the costs of your home owner loan. We can help you get Homeowner Loans on various repayment options as per your desire.

Since you run the risk of losing your house in the event of failing to repay the home owner loan therefore it is very important that you select a loan on payment terms which is affordable to you. Moreover, a home owner loan comes at various interest rates in UK. Therefore, if you want to get a homeowner loan at the lowest possible rate of interest then you need to shop around in the market to find out lenders who can meet your requirements and can lend you money at your desired interest rate. We will make your search very easier by providing you with online quotes from lenders in UK. By using our services you will be able to get all the best possible options available in the market without making too much effort. You only need to pick the best out of it.

Homeowner Loan Features

Homeowner Loans are loans available by homeowners. They are secured against your home. They are often confused with mortgages. However these Home Loans have a less lengthy process and thus are more easily availed then mortgages.

Homeowner loans are provided against the security of your home. Thus the lenders provide you with striking interest rates as their risk is relatively reduced. The terms and conditions of the loan are also attractive.

Homeowner Loan Borrowing Limits

Since this type of loan is secured against your property or home, the loan amount sanctioned to you would depend upon the property or home market value. Other factors to consider are Mortgages outstanding on that property and other liabilities or debts. The lenders typically have fixed percentages based on the value of your property. Typical borrowing limits vary between 100 to 125% of your properties value.

Loan Proceeds Usage

There is not restriction on the ways you want to use the borrowings. You might want to renovate your house, pay for unexpected expenses such as car repair, buy a new car and pay your child’s tuition fees. However you need to keep in mind that if you are not able to repay your loan you will be loosing your home which is provided as security. Hence keep your borrowings within repayable limits.

Advantages of Homeowner Loans

This Home Loan comes with various returns. Some of them are

  • Easily sanctioned and quickly processed
  • Low processing fees
  • No restrictions on how you should spend the borrowings
  • Flexibility of extending the loan term to longer periods or repaying it early.

Disadvantages of Homeowner Loans

Some of the drawbacks are

  • Gives the perception of being free money as it is easily obtainable with very few procedures.
  • Tempts you to overspend beyond your needs. It is always advisable to spend the Homeowner Loan proceeds keeping your future and family in mind. Home improvements and spending on education are some of the examples of sensible usage.

How do I Find a Homeowner Loan?

The Homeowner Loan market is very competitive and has plenty to offer. Financemate will provide you with interesting offers and introduce you the best of the lenders in UK.

The Home Loan market is offering attractive interest rates and speedy processing. The terms and conditions of the loan are also less stringent.

So, apply with us and solve all your financial problems.