Are you a Homeowner in England or Wales with a mortgage?

If you are you can apply for a homeowner loan secured on your property for any purpose.

Reasons to take a Secured Homeowner Loan

  1. You have a great mortgage deal and don’t want to remortgage
  2. To finance home improvements which increases the value of your home
  3. Your growing family needs more space, such as a loft conversion
  4. Consolidation of existing debts, some of which may be high rate

Borrowing Facts

The point of a secured homeowner loan is that the free equity in your home enables you to borrow larger sums over longer periods compared with an unsecured loan. Providing you have sufficient income to afford repayments a homeowner loan should be cheaper than an unsecured loan even if you have a less than perfect credit history.

Secured Homeowner Loans are Mortgages

Arrow Loans offers homeowner loans that are second charge mortgages. You have many protections to ensure that you are always treated fairly. For example, you can settle in full or in part at any time.

Apply for a Secured Homeowner Loan

Whatever is happening in your life right now, whatever purposes you are looking to borrow for, find out why a secured homeowner loan could be the right choice for you. We’ve put together some frequently asked questions, to help you make an informed decision. Click on the links below for more information.

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Interest Rates

Our representative rate for homeowner loans is 19.9% APR - at least 51% of successful applicants receive this rate
The Representative APR includes the cost of arranging your homeowner loan as well as the interest charge on the money lent. You will be told the APR at the commencement of the statutory cooling off period – at least 8 days before you receive your loan documentation to sign.

Secured Homeowner Loans Facts

What is a Secured Homeowner Loan?

A secured homeowner loan uses collateral, such as your home, as security for the repayments. If repayments are defaulted on, as the borrower, you could lose your home. Secured loans are also referred to as ‘homeowner loans’ or ‘second charge mortgages’, as this type of loan ranks after your mortgage for security. Homeowner loans are regulated agreements by the Financial Conduct Authority.

How to Secured Homeowner Loans differ from Unsecured Loans?

Secured homeowner loans are mortgages on your home. If you fail to maintain your monthly payments, your home may be at risk. Therefore lenders will often accept an application for a secured loan which they may decline for an unsecured loan. So lenders can be more flexible with secured loans and will usually offer larger sums over longer periods. Unsecured loans do not place your home at risk.

Do I qualify for a Secured Homeowner Loan?

In order to apply for a secured loan with Arrow Loans you must fit our criteria:

  • Aged 21-68
  • A homeowner occupier
  • Live in England or Wales
  • Be able to afford the repayments comfortably from normal income

How do I apply for a Secured Homeowner Loan?

To get started, simply fill in our loan approval form here. At Arrow Loans we pride ourselves on being a Direct Lender and as such, our ability to make decisions fast sets us apart from other loan companies or brokers.

How much can I borrow?

Secured homeowner loans through Arrow Loans are available for people who are looking to borrow between £2,500 and £25,000

What are the loan repayment terms?

The amount borrowed can be customised to whatever suits you best. Arrow Loans offers loan repayments up to 180 months (15 years), which means the loan can be repaid over a term whereby you find the monthly repayment amount affordable.

Is there a lower interest rate with a Secured Homeowner Loan?

Homeowner loan interest rates are usually lower than those for an unsecured loan. This is because secured loans can be taken out over a longer period of time and the lender has security, giving him confidence that the loan will be repaid. The size of the loan may also influence the interest rate.

Are there any fees to pay?

We are committed to telling our customers about our fees. There are NO fees or costs payable before the loan is issued. When your loan is issued there will normally be an arrangement fee of up to £495 added to your loan amount. This fee will vary as it is intended to cover our costs, such as legal and valuation, on a case by case basis. The amount you repay is clearly stated on your loan quote.

Can I settle the loan early if I wish?

Yes! Our loans are regulated so you can settle early, overpay and make lump sum payments. This can reduce the amount of interest paid on the loan, ultimately saving you money.

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