Homeowner Loan Quotes For Business Purposes
If you are a homeowner with a current mortgage and your are looking to borrow £25,000 or more using the equity in your home to raise funds for a new business startup or existing business venture.
See below for a table of indicative rates from leading second charge lenders who provide finance for UK residents looking to raise funds for business funding purposes.
Representative Example:The Representative APRC is 5.9%. Based on an assumed loan amount of £48,000 (including broker fee of £2,505 & product fee of £495) over 240 months at an interest rate of 5% (variable). Monthly repayment £316.78 & total repayable £76,027.20.
Homeowner Loan Service
Our loan service offers homeowner loans for any purpose – so if you are looking to reduce monthly repayments and consolidate existing debt a homeowner loan (second charge mortgage) may be an option for you.
As the loan company is securing the loan against your property a secured loan often provides a cheaper longer term finance solution than an unsecured loan, but this will be subject to your circumstances.
We work with independent secured loan brokers who search the market for deals offered by leading providers to help you find the homeowner loan company which offers you the best deal for your situation.
- Easy application – Raise finance without having to remortgage
- Loan purpose – Raise capital for debt consolidation, for a property deposit, tax bill, home improvements, business startups
- £25,000 to £750,000
- Complete flexibility – repay loan in full at any time
- Overpayments can be made at any time – If you overpay the amount you owe, the amount of interest that you pay is recalculated. Your monthly payment will not change, but the term of the mortgage will reduce accordingly
- Must be a UK homeowner
- Maximum loan to value 75%
- Must be aged 21
- Impaired credit considered
- Permanently resident in England, Wales & Scotland
Homeowner Loan Representative Example:
The Representative APRC is 5.9%. Based on an assumed loan amount of £48,000 (including broker fee of £2,505 & product fee of £495) over 240 months at an interest rate of 5% (varaible). Monthly repayment £316.78 & total repayable £76,027.20.