Homeowner loan

A homeowner loan is an additional type of loan available to property owners. These type of loans are secured loans against the borrowers home.

A homeowner loan can enable you to borrow more money than you would otherwise have been able to through a personal loan.

It can be easier to get a homeowner loan because the lender has the security of the value of your house rather than just the information they can find through the borrowers credit history. This means that self-employed people and those with a bad credit history can still be accepted for a homeowner loan.

As with any type of loan the potential borrower needs to consider if they will be able to afford the repayments if their income reduces.

	Derbyshire BS cuts personal loan rate to 5.1 per cent The Derbyshire Building Society has cut the rate on its personal loans between £7,500 and £10,000 to just 5.1 per cent taking it back to the top of the best-buy tables along with the Clydesdale.
	Clydesdale Bank cuts loan rates to leap to top of best-buys The Clydesdale and Yorkshire Bank has cut the rate on personal loans between £7,500 and £15,000 to 5.1 per cent beating the Tesco Bank deal to go to the top of the best-buys.
	Sainsbury's Bank cuts personal loan rate to 5.4 per cent Sainsbury’s Bank has cut the rate n personal loans for Nectar card holders to just 5.4 per cent for people who borrow over a one to three-year term.
	Derbyshire BS cuts personal loan rate to 5.4 per cent The Derbyshire Building Society has cut the rate on its personal loan between £7,500 and £14,999 to 5.4 per cent matching the deal from Sainsbury’s Bank.
	M&S unveils best-buy personal loan rate at 5.5% Marks & Spencer has launched a new personal loan for applicants who want to borrow between £7,500 and £15,000 over a 1-5 year period at just 5.5 per cent.