Homeowner loans to raise a deposit for a first home for a child
If you are a homeowner with a current mortgage and are looking to borrow £25,000 or more using the equity in your home to raise a deposit for a child’s first home we can help you source finance.
Homeowner Loan Service
Our loan service offers homeowner loans for any purpose – so if you are looking to fund a deposit for a child’s first home 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.
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.