Homeowner Loans
- Borrow from £10,000 to £500,000
- Repay of 3 to 30 years
- Apply for rates from 6.5% APR
- Bad credit, CCJs & arrears accepted
Our Lenders
We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs at the lowest rates.
What are Homeowner Loans?
Homeowner loans allow you to borrow money secured against your home, helping you to borrow £10,000 to £500,000 for things like home improvements, debt consolidation or an important event such as a wedding.
Homeowner loans mean that you can use your house or flat as security to borrow money at affordable rates, even if you have bad credit. You can borrow from 3 to 30 years in affordable monthly payments, with the option to repay early.
At Proper Finance, we are a price comparison website and we help you to compare rates across the UK market for a range of financial products. For homeowner loans, we are partnered with Fluent Money who work with a number of FCA regulated lenders.
By completing our form in just a few minutes, our partner will be in touch to take you through the process step-by-step and there is an app so you can see how your application is progressing too.
Our partner will run you through a series of checks such as confirming the value of your property and confirmation that you own it. Subject to approval, your homeowner loan could be funded in a matter of days and you can start living life to its fullest. Now that is proper!
Your information is 100% secured 🔒
Key Features of a Homeowner Loan
Whilst homeowner loans can come in a variety of different shapes and sizes, our lenders often have a few of the same key features for these types of loans, including the following:
- Loan amounts of £10,000 to £500,000
- Longer loan periods of 3 to 30 years (long term loans)
- Used for home improvements, debt consolidation and more
For secured homeowner loans, it’s important to note that the security of your valuable asset (most likely your property) will be at risk if you cannot keep up with repayments. This means that the lender could repossess and sell your property to collect any outstanding amounts due to them.
Our lenders accept a range of different properties, including houses, flats, bedsits and bungalows. It’s always best to check whether your type of property will be accepted to act as security for the loan before making an application.
What Types of Homeowner Loans Are There?
Perhaps the most common type of homeowner loan is a secured loan whereby the borrower uses their property or home as security. This is also known as a second charge loan or mortgage because it becomes the second priority for payment after your main mortgage (the first priority or charge).
With secured loans, that the lender is registered as a charge against the property. Hence, if you do not keep up with repayments long term and all means to collect these have not been successful, the lender can take charge and repossess your home to recover their losses.
With the property you put on your application, you should be the main owner or joint owner of thus property, but you do not necessarily have to be living there full-time or own the property in full.
Most people that use homeowner loans are not outright owners and it is owned through an ongoing mortgage.
Your information is 100% secured 🔒
What Information Will I Need to Provide When Applying for a Homeowner Loan?
To apply for a homeowner loan with Proper Finance’s panel of lenders, the eligibility criteria may vary, but you may be required to provide the following:
- Your name
- Your date of birth
- Current residential address
- Monthly income and expenses
- The loan amount you are applying for
- The period you wish to have the loan for
- Proof of ownership for the property
- Proof of income
The information you will be needed to provide varies depending on the type of homeowner loan you are wanting. For example, a secured loan will always require you to provide proof of ownership for the valuable asset you wish to secure the loan with.
Key Features Of A Homeowner Loan
| Loan Amount | £10,000 to £500,000 |
| Loan Duration |
3 to 30 months
|
| Rates From | 6.5% APR |
| Free to Apply | Yes |
| Security Required | Yes |
| Bad Credit Accepted | Yes |
| Online Application | Yes |
What is the Eligibility Criteria for a Homeowner Loan?
There are certain requirements you will have to meet in order to be eligible for a homeowner loan through Proper Finance. Some of the main criteria borrowers will have to meet includes:
- Over 18 years of age
- Good and bad credit histories both considered
- Have a stable employment and regular income to meet monthly repayments
- Using their property as security e.g home, flat
Most homeowner lenders will consider those who apply for a loan bad credit because using security such as your home means that that the eligibility requirements are less strict.
If the property is valuable, good condition and re-sellable, this gives the lender confidence that they can recover their losses if need be.
Your information is 100% secured 🔒
How it works
The whole process is really quick, simple and we’ll have found a great loan deal
for your individual circumstances quicker than you can say bobs your uncle.
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New Loan Quote
Please complete our loan eligibility form on the next page.
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Fact find call
A member of our friendly loans team will call you at a convenient time for a quick fact find call. These calls typically take no more than 5-10mins so let us know when you're having a tea break and we can chat then.
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Finding the right loan for you
We'll scour the market to find you the best loan deal for your particular circumstances.
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Loan funded
If you're happy with the loan product & lender we recommend we'll deal with all the paperwork & documentation for you and arrange for funds to be transferred to your account.