I want to borrow

Homeowner Loans - Borrow Money with Ease

Do you want to decorate your home with more elegancy? Are you considering consolidating significant debts? Are you dreaming of purchasing another property?

If your answers are in yes, then homeowner loans are the perfect solution for you. You have the most significant advantage of applying for these loans is you can borrow considerable money, which will be on better interest rates.

You get this benefit because you are using your home as collateral against the borrowed sum. Lenders feel safe in funding your needs because you have pledged the security.

At Figuralloans, we allow you to borrow a larger amount and make repayments for a longer duration. There is no doubt about homeowner loans are a perfect choice or not. These are ideal funding sources despite the risk of losing your home if you default.

We still suggest you consider other options as well before finalising a deal. Still, you will find our loans the most affordable than any other in the UK marketplace.

What are Homeowner Loans?

Homeowner loans, also referred to as secured homeowner loans, are another type of lending where borrowers use their property as loan security. It can be in the form of your home or apartment or a flat.

Placing the loan collateral as the security is vital to get the guaranteed loan approval. Lenders can be flexible in their norms. Consequently, people with bad credit or very bad credit scores can fetch the desired amount without paying higher interest rates.

To get the loan, you need to be a homeowner or a mortgage holder with having sufficient equity in the given property. Therefore, these loans are also called secured loans, making things easier for borrowers, especially when getting higher amounts but not at higher rates.

You should apply for homeowner loans if you have the following requirements:-

  • You want to obtain the amount between £10000 and £300000;
  • You have a poor credit rating but can place your house as loan collateral;
  • You want a much longer period of loan repayments to improve credit score;
  • You want to consolidate debts to get much more affordable deals.

How Can I Qualify for Homeowner Loans in the UK?

The primary eligibility requirement for homeowner loans in the UK is that you should own a home. Still, there are some other conditions apply that you should also fulfil. These are the general ones, not mandatory.

Better Earning Source

Your loan affordability will pave the way for smooth loan approval. And your steady income determines the loan affordability. As long as you earn a good income, you have a better chance of getting 100% loan acceptance. Sometimes, you need to provide salary statements carrying your income and outgoing expenses.

A Good Credit Rating

Any lender likes the borrowers who have maintained their credit scores on the good side. If your credit score does not have any dent and all your payments are on time, you can easily qualify for homeowner loans. However, loan approval is also there for those with poor credit scores, but the lenders’ preference is always a good credit score.

Age Requirement

Many lenders have set their own age criteria to get these secured loans. In most times, we accept the loan applications of those individuals between the ages of 18-21 years. The maximum age limit can extend up to 70 years.

Your Property

It is a general requirement because you should have to get a loan. You need to keep your home as the loan security, and it is enough to attract guaranteed loan approval. If you cannot keep up the repayments, the lender retains the right to repossess your house to cover the funds' loss.

Where Can I Make the Best Use of Secured Homeowner Loans?

You can apply for secured homeowner loans for multiple reasons. However, you apply only when you have the requirement of a large sum of money. You can approach a direct lender to have a homeowner loan for the following purposes:-

Home Improvement: If you wish to have or there is mandatory home improvement, you can apply for these loans. Once getting the funds, you can spend them on necessary repairs, extensions and embellishment of the house.

Second Property Purchase: You can apply for these loans to increase your deposit to buy another property. It means you do not have to disturb your savings, and property can become yours.

Debt Consolidation: Do you have many debts to clear? Is paying each interest rate and repayment becoming difficult for you? Why you are worrying so much when you have the option of secured loans. Apply for these homeowner loans, merge all debts into a single payment, and get a lower interest rate.

Paying another Loan: If you have borrowed a loan through government funded schemes, you can use our loans to make its payment on time. It is like another debt that you are clearing with secured loans.

To Boost Business Capital: Running a business is not a smooth journey to walk easily. You must have some financial obstacles to go part with. Homeowner loans help you to generate significant funding that you can use for the cash injection. With having funds, you can plan out business expansion, funding a new project or purchasing equipment.

For Personal Usages: We do not ask for your loan purposes, and thus, we allow you to use homeowner loans to fund your personal occasions like weddings. Moreover, you can also use funds to pay the university while pursuing an expensive academic course.

Whatever your purpose of applying for homeowner loans, we offer only affordable loans that match your financial capacity. 

Will I Get Approval on Homeowner Loans for Bad Credit?

In general terms, secured loans are a much better choice for those with poor credit ratings than unsecured loans. You have secured the loan with collateral, making you an eligible borrower to avail of homeowner loans for bad credit people.

The primary condition is that you should be a homeowner or a mortgage holder. Having a bad credit score is no more a hurdle in your loan chances. In fact, we have made specialised lending deals for you, including competitive APRs and flexible repayment periods.

Unlike other direct lenders in the UK, we accept your loan application despite having multiple bad credit issues like:-

  • Mortgage amount overdue
  • No credit history
  • Blemished credit report
  • County Court Judgement (CCJ)
  • IVA (Individual Voluntary Arrangement)
  • Bankruptcy
  • Loan default
  • Late payment
  • Repossession

We are open to accepting loan applications on homeowner loans for poor credit. Still, you do not need to worry about the interest rates. Since you have secured the amount through your home, you get lower interest rates and floating repayment terms. Choose your own rate and loan term, and improve your credit score for more lending opportunities.

What is the difference between Homeowner loans and Non-homeowner Loans?

Almost every loan has a comparison with any standard loan option. Borrowers should have explicit knowledge of it before deciding on a particular loan offer.

On similar notes, Homeowner loans from direct lenders are often compared with non-homeowner loans.

Homeowner Personal Loans

As described above, homeowner loans are the secured loans where the borrowers get the loan approval after they pledge their home as the loan collateral. The interest rates are lower, but the chances of obtaining a large amount are quite there.

The standard loan features are:-

  • Loans are easy to get with already placed collateral;
  • The loan terms are usually longer that can be extended up to 10 years;
  • People with any credit scores can apply because the primary criterion is the loan collateral;
  • Presenting the guarantor is not mandatory since these are already the secured loans.

Non-Homeowner Loans

As opposite to homeowner loans, non-homeowner loans are more like unsecured loans. Here, the primary borrower may not be a homeowner, and you can apply even if you are living on rent. In fact, these loans are sometimes called tenant loans. The interest rates may be somewhat higher, but these loans are helpful during a financial emergency.

While applying for non-homeowner loans, you get the following features:-

  • People with poor credit scores can apply, but they have to pay higher interest rates;
  • You can present a guarantor to calm down the interest rates;
  • The loan term is relatively shorter, and the loan comes to an end quite early;
  • There is a minimum risk involved in these loans, but borrowers' income holds the significance for the loan approval.

What are the Advantages and Disadvantages of Homeowner Loans?

Like unsecured loans, secured loans do have some advantages and disadvantages for the borrowers. You need to be familiar with these as it will help you get a better deal with better lending norms.

Many people tend to approach brokers to get the best deal on long-term loans like homeowner loans. You should not do that, especially when your finances are tight. Paying broker's fees will add more to your financial burden. Therefore, you need a responsible direct lender like us.

We not only provide loans but also guide our borrowers without charging anything. Closely look at the pros and cons of homeowner loans, and they opt for our best deals.



You always have a better chance of borrowing a significant amount. The maximum amount you can borrow is up to £300,000.

You have a larger risk of losing the pledged collateral i.e. your home. This happens when you do not repay the loan on time.

Since the loan term is more extended, you can have affordable monthly instalments compared to the unsecured loan.

Loans with a longer duration often involve an overall higher interest rate. The longer the loan term, the higher the interest rate you need to pay.

Homeowner loans are the perfect lending choice for those with poor or no credit history. With collateral is already placed, you can get loan approval on lower interest rates.

Homeowner loans may be subject to early repayment fees, which happen with most long-term loans. You want to repay early to reduce the interest, but it may cost you more.

Such long term loans are extremely helpful in improving credit scores. You have affordable monthly instalments, and making each of them on time enhances your credit scores.

Getting the right helping hand of a responsible lender is quite crucial for homeowner loans. Therefore, you need to work hard to get the correct loan deal and avoid any trap.


How to Define Non-Homeowner Guarantor Loans?

Non-homeowner guarantor loans from direct lenders are short-term loans, but they prove very useful for those who do not have a home and take their loan guarantee. These people are living on rent, or they are the tenants. They do not have their own home to be placed as loan collateral.

In particular, the people with not so decent credit history can show the person as their guarantor who is a tenant. Traditional lenders often prefer homeowners as the loan guarantor, as they feel secure in doing so. On the other hand, direct lenders like us can accept tenants as the guarantor. We are already committed to non-homeowner guarantor loans on same day payout.

These are also called tenant guarantor loans and allow borrowers to:-

  • Borrow funds as per their genuine financial needs;
  • Build positive credit history with affordable monthly instalments;
  • Prevent them from the debt trap with an easy consolidation;
  • Get quick funding during the financial emergency;
  • Obtain loan benefits irrespective of their age, employment and credit score bar.

How Homeowner Loans from Direct Lenders Work?

At Figuralloans, you have three crucial advantages on availing of homeowner loans. These are:-

  1. Fast Loan Processing: We ensure no delays in the loan approval. Therefore, we have kept the application process 100% online.
  2. Loans for Everyone: Our homeowner personal loans are applicable for every group of borrowers. It means any credit score and employment status can be relevant.
  3. Best Interest Rates: Since our loans come according to your loan affordability, you get the lifetime opportunity to get the loans on the most competitive interest rates in the market.

To avail of these benefits, you need to come online to apply for the loans. We have the simplest of the loan application form that requires only a few details to mention. Your data is safe with us, and we do not share it with any 'third party.

Once you submit the form, we quickly examine the details and share a free loan quote with you. You are free to discuss each point of the loan quote with us. After everything is fine, we release the funds to your bank account.

Our friendly and professional team of loan experts will help you at their level best. They let you get the lowest possible interest rates without delaying the proceedings.

You should not miss out on the best deal on homeowner loans. Apply now.