A homeowner loan amount of £25,000 payable over a loan term of 5 years on a fixed rate of 9.50% would require 60 monthly payments of £546.03. The total amount repayable would be £32,761.80, this includes interest and a product fee of £999. The overall cost for comparison is 11.8% APRC representative.
Do you want to consolidate your existing debts, get some additional funds to carry out some home improvements or just borrow some extra money for any other reason, then a homeowner loan could be the perfect answer…
We offer a smooth, professional and friendly service that specialises in providing fast homeowner loans at competitive rates.
We are a direct lender rather than a brokerage, which means that we only provide our own loans and do not charge any additional broker fees. Being a direct lender also means that we can offer you very quick lending decisions as you do not need to wait for all the different lenders to respond with their decisions.
We are here to help you get the loan you need, when you need it.
Our team of experienced, dedicated loan specialists will make sure we provide the homeowner loan you need, without delays and with a fantastic level of service.
We are authorised and regulated by the Financial Conduct Authority and have over 30 years’ experience, so we know exactly what it takes to provide the very best service available…
You can either call our loans team directly on 0800 980 6273 or you can apply online at any time using our quick and easy online form.
We pride ourselves on our service and treat every customer with courtesy and respect. If ever we need to contact you, we will make certain that it is at a time that suits you. We always answer any questions honestly and deal with any issues quickly and fairly.
We take great pride in providing you with the very best service possible. Whether you need to borrow extra money for home improvements, to consolidate existing debts or for any other reason, our team of experienced, friendly advisors are here to help you.
We won’t just be there for you during your application, we are here to help you throughout the entire life of your loan. So should you ever need to borrow some additional funds, or face any challenges at all that require our assistance, simply give us a call and we will be there for you.
Homeowner loans let you borrow money using a property (usually your house or apartment / flat) as security against your loan.
Lenders can often be more flexible about who they give loans to if you use your home as security. As a result, people with adverse, poor or even bad credit histories are often able to borrow the money they need without the need to pay higher rates of interest that are sometimes associated with unsecured loans.
In order to secure a homeowner loan, you must be a homeowner or mortgage holder and there must be enough equity in the property being used as security to cover the loan. Our loans are also often called secured loans or second charge mortgages. Using your home as security against your loan can be a great way to get the cash you need, when you need it, and paying a lower rate of interest.
It couldn’t be simpler to apply for a Homeowner loan online with Central Trust…
Our simple online application form is quick and easy to complete and only needs the initial information needed to start your application. We only need some very basic information to get the ball rolling, so it only takes a moment to complete.
We only require:
If you would like to apply for a homeowner loan online now, simply click here…
Homeowner loans aren’t just for people with good credit, we can also provide loans for applicants with adverse, poor or even bad credit histories…
If you have found it difficult to secure a loan as the result of an adverse / poor credit or even a bad credit rating, it may still be possible for us to help you.
Because they use your home as security, we can consider applications for home owner loans from people with less favourable credit histories. We may still be able to provide a loan despite historic issues such as CCJ’s, defaults or missed payments. We consider each application for a bad credit homeowner loan on an individual basis, so whatever your credit circumstances, we will try our very best to help you secure the home owners loan you want.
The exact interest rate of a homeowner loan will vary depending on your personal circumstances. The total cost and repayment periods of all loans will vary from company to company and will be based on how much you wish to borrow, your credit history and how much equity is in the property being used as security.
We will always offer you the best homeowner loan rates that we can, but it is important to remember that the interest rate we will be able to offer you may vary.
We will always make sure that you can afford the monthly repayments before we agree your loan. Your home may be repossessed if you fail to repay your loan; however, we will always try to help you to ensure this is the last resort.
Here are some of the things that may affect the interest rate of your loan:
As with any loan, it’s important to understand that falling behind on your repayments could potentially impact your credit score, and in some extreme cases, could potentially put your home at risk if your loan is secured against it.
We will always try to ensure that your monthly repayments are affordable, however if circumstances change, we are here for you and will work to find a suitable solution.
A Homeowner loan uses your home as security against the amount of money you borrow (known as providing ‘collateral’).
Using a property as security usually lets you borrow money at a lower interest rate, and to borrow larger amounts of money. Your property must have enough equity to cover the value of your loan – it is important to remember that the property may be at risk if you do not keep up with any repayments secured against it.
Using your property as security may also help you get a loan, even if you don’t have a great credit rating. If you would like to check your credit rating, you can carry out a free, online check here.
The benefits of using your home as security against a loan include:
Even though using a property as security will often help you get a lower interest rate, it’s important to remember that the exact interest rate of your loan will depend on your personal circumstances.
Typically with homeowner loans you can borrow between £3,000 and £250,000. However the amount you can borrow depends on the available equity that’s in your property.
Equity is the portion of your home that you own outright free from any mortgage, including your initial deposit and the money you’ve paid back. To work out how much equity you have in your home, simply subtract the amount you owe on your mortgage form the market value of your home.
Whilst homeowner loans can give borrowers the funds they need, it is important to note that mortgage offers are dependent on various factors. Every lender has different criteria that they use to work out your affordability as well as how much you could borrow.
As part of your homeowner loan application, lenders will complete an affordability check to assess your ability to repay the loan. It’s likely that they will ask you to provide evidence of your income and expenses including essential and non-essential out-goings.
You may even be asked about future plans, as this can sometimes impact your finances and ability to pay your mortgage repayments.
At Central Trust you can borrow as little as £3,000, up to a maximum of £250,000, with repayment terms from 3 to 25 years. It’s easy to apply, simply fill out our application form, or call the number at the top of this page to speak to a qualified mortgage advisor.
The cost of a homeowner loan depends on several factors, such as:
As you’d expect, you can’t get a homeowner loan without owning a property. If you rent your home you would need to look at applying for an unsecured loan that doesn’t require an asset to secure the money to.
Typically, this type of loan is used by homeowners who want to borrow a larger sum of money. This is because the money you borrow is secured to your property, unlike an unsecured loan.
Before agreeing to a homeowner loan, it’s important to find the right loan that meets your specific borrowing requirements. So, there are some things you should consider: