Home Loans

Home loans the most popular loan type, mainly due to them generally offering the borrower the lowest interest rates, and the ability to borrow large sums of money. When taking out a home loan, you put forward your house as guarantee for the loan amount to be secured to. Because the lender has the security of your house, they see home loans as a low risk, and as such are able to offer lower charges on the borrowed amount. By virtue of the reduced risk to the lender, it is often a simple and quick process to arrange a home loan, even if you are considered to have a poor credit rating through defaults on previous loans or having county court judgements (CCJs) against you.


The money that you borrow is yours to spend how you see fit, from paying off existing debts that are at a high rate of interest (such as overdrafts, credit and store cards), to home improvements or the purchase of a new car. If you do have existing unsecured debts, you could well save money in the long run by replacing these high-interest charging debts with a lower interest home loan. Interest rates for home loans can vary greatly, the biggest influencing factor being the amount borrowed – generally speaking the higher the amount the lower the interest charges will be. Your credit history will also have a bearing on the rates you are offered, people with a poor credit rating are seen by the lender as a greater risk and as such will be faced with a higher charge. For a more extensive selection of loan types visit our partner site Loans UK.

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