Homeowner Loans

As a homeowner you could borrow from £5,000 to £2,500,000 with a low rate Second Mortgage

I want to borrow

over

years

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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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.

  • New Loan Quote

    Please complete our loan eligibility form on the next page.

  • 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.

  • Finding the right loan for you

    We'll scour the market to find you the best loan deal for your particular circumstances.

  • 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.

If you are looking to borrow money for a wedding, home improvements, a new car, or to consolidate existing credit – maybe there’s more than one reason – homeowner loans can give you the money to make it happen, with an affordable monthly repayment that suits you.

See if you qualify for a homeowner loan from £5,000 to £2,500,000, simply answering a few questions on our online application form. Once the form is completed, we’ll call you back with an immediate answer, and can even tell you the maximum amount you could borrow.

Apply now and you could get a decision on your loan application within minutes. We compare the latest rates from the UK’s leading lenders to make sure you get the lowest rates available to you.

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What Types of Homeowner Loans Are There?

There are numerous of different types of homeowner loans to choose from, helping to meet the varied needs of different borrowers.

Whilst you might think a homeowner loan has to be secured with a property, there are actually a diverse range of unsecured financial products, that favour homeowners due to their credit-worthy credentials.

Below is a list with some of the main types of loans available for homeowners:

  • Secured loans
  • Unsecured loans 
  • Equity release 

Perhaps the most common type of homeowner loan, a secured loan works by the borrower securing a valuable asset on the loan (e.g. a house). This will act as collateral if the borrower cannot keep up with repayments.

Secured loans differ drastically from unsecured loans, which by definition do not require a valuable asset to be secured as collateral for if the borrower defaults. With an unsecured loan, successful applicants will have to have provide the lender with assurance that the loan will be paid back in other ways.

This often includes having a good credit history, which can be built up by keeping up with monthly repayments on other loans, mortgages and bills etc. Lenders will tend to find security in the fact that the borrower is a homeowner, as this means they have already been through a rigorous application process, and are used to keeping up with monthly repayments.

Homeowners are also eligible for equity release, provided they are over the age of 55. With this type of loan, homeowners free up some of the equity held in their house to be spent on various different things. It can be a great option for those who are wanting to free up some cash whilst planning to stay living in their homes long-term.

 

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 £5,000 to £2,500,000
  • Loan periods of 1 to 35 years
  • 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.

Our lenders accept a range of different properties, including houses, flats 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.

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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 loan through Proper Finance. Some of the main criteria borrowers will have to meet in order to take out a homeowner loan include the following:

  • Being over the age of 24
  • Having a good credit history 
  • Having an income over £15,000 per annum
  • Own a property

Whilst having a good credit history may be necessary for some of the unsecured homeowner loans out there, it is not required will all types. For example, if you have a valuable asset (e.g. your home) to act as security that the loan will be paid back, lenders may consider you, regardless of a bad or insufficient credit history.

There may be other requirements that come with specific types of homeowner loans. For example, with an equity release, homeowners have to be over the age of 55, and own all, if not most, of their home outright.

Read more about the reasons you might be declined for a homeowner loan here.

 

What Information Do I Need to Apply for a Homeowner Loan?

To apply for a homeowner loan with Proper Finance, you will have to provide us with the following details:

  • 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
  • Rent income and payslips

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. However, an unsecured loan may not require this information from you.

 

Why Apply for a Homeowner Loan with Proper Finance?

Proper Finance works with some of the leading lenders in the country, all of which are regulated and in-keeping with government guidelines surrounding loans and lending. This means that any loan you take out through Proper Finance will be safe and secure.

Our online application can be completed in just a few minutes, after which you will receive an instant decision. Click the “apply now” button below to begin your online application.

There are no upfront fees charged for making an application on our site.

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