Homeowner Loans

Easy Loans for Homeowners - Homeowner Loans

Homeowner loans are loans which are secured against one’s property. They can be acquired quite easily.

Who can Apply for Homeowner Loans?

A person who has his own property or has a mortgage in his name, in the country of his residence, can apply for a homeowner loan.  A person who has a poor credit history need not worry too much, as a credit check is not the sole basis for granting a loan request.

Loan Amount

Depending upon the amount of equity in his property, the loan amount may range from 3,000 to 250,000 pounds.  When a person applies for a homeowner loan, somebody from the lender’s side will come and value the applicant’s property.  The maximum loan limit is decided on the basis of property value. 

Uses of Homeowner Loans

  • Consolidation of Debt

A person who has a mortgage and many other debts can use the proceeds of the homeowner loan to pay them off, thus consolidating his debts into a single loan.  Even if he has arrears in his previous loans, he can still apply for a homeowner loan and use the amount to pay the arrears also.

  • Other Purposes

Homeowner loans can also be used for any other purpose like renovating one’s home, going on a holiday, buying a new vehicle and so on.

Applying for a Home Owner Loan

A homeowner loan can be applied online.

  • The homeowner can visit a lending website and click on the ‘Apply now’ button.  These sites are connected to a network of lenders.
  • A page will appear where the applicant will be asked for some details.
  • Somebody belonging to the lending website team will call and discuss the issue with the applicant.  The team member will explain the various options available and the applicant can select the most suitable to him in terms of rate of interest, loan amount and repayment period.

The loan money is generally available to the applicant in a couple of weeks after filing the application. He can use the money for whatever purpose he sees fit.