Homeowner Loan Broker
Homeowner Loan Brokers – Low Broker Fee & 5 Star Service
At ABC Finance we offer a 5 star rated service with low fees. We’re highly commended as the best second charge broker in the UK!
Over 30,000 loan-seekers helped
FCA Authorised – Fully regulated
Receive your funds in as little as days
Market-leading interest rates
CeMAP Qualified Advisors
Fixed £1,495 Broker Fees
Author: Gary Hemming CeMAP CeFA CeRGI CSP
20+ years experience in homeowner loans
As a specialist homeowner loan broker, we can help you raise finance through a homeowner loan, helping you to access the best deals in the UK.
We offer a low, fixed £1,495 fee, regardless of how much money you borrow.
What is a homeowner loan broker?
A homeowner loan broker is a financial intermediary that helps individuals obtain a homeowner secured loan from a lender.
Brokers offer you access to a wide range of financial products as they have access to a network of lenders across the market.
In the UK, some homeowner loan lenders won’t work directly with the public, meaning the only way to access the full market is through a homeowner loan broker.
It is possible to get a homeowner loan without using a broker, but while it may mean you don’t have to pay a fee, it may not be the best option.
By working with a homeowner lending broker, you can streamline the process, significantly speeding your application up and access to deals that you may not find on the market by yourself.
Read more – homeowner loans for home improvements or debt consolidation homeowner loans.
What does a homeowner loan broker do?
A homeowner loan broker takes time to understand your circumstances and find the best deal for your circumstances, and will work with you throughout the whole process. A broker will often complete what is known as a Factfind, this allows them to gather the relevant information to place you with the most appropriate lender.
A good broker has strong relationships with lenders and an in-depth knowledge of the market, meaning they can find out which products you’re eligible for and which deal is the best.
As an experienced finance professional, they’ll be able to do this quickly, while taking time to cross-check criteria fully to ensure your application will be approved.
Read more – homeowner loans in England or homeowner loans in Scotland.
Why do homeowner loan brokers charge such high fees?
Many homeowner loan brokers charge high fees for their service – often 12.5% of the loan amount. This significantly adds to the cost of your loan.
As for why they do this, it’s not an easy question to answer. While there is probably a good justification for why this is reasonable, we prefer to focus on driving efficiency in the process and passing those savings on to our customers.
That’s why we’ve refined every part of our process to maximise efficiency – passing on that saving to you through our fixed £1,495 broker fee.
Read more – homeowner loans in Wales or homeowner loans in Northern Ireland.
Does it matter what fee I pay if it can be added to the loan?
Yes, even if you add the fee to the loan, meaning you don’t have to pay it upfront, it still matters.
Adding a larger fee to the loan incurs interest until the loan is repaid, increasing the overall cost
Where possible, it’s important that you make savings as put simply, those funds could be better used elsewhere.
Why choose ABC Finance?
At ABC Finance, we offer a market leading, fixed £1,495 broker fee and exceptional service to help save our clients money and get their loans quickly.
Our focus isn’t just on securing the best deal but also on saving you more through a low, fixed fee. Once we’ve found the best deal, with the lowest APRC, we then handle the whole application process for you, whether that’s filling in application forms, checking proof of income or chasing the lender on your behalf to speed up your application.
How long does it take to arrange this type of loan?
It takes around 3-14 days to arrange a homeowner secured loan, making them a great option for when you need funds quickly. We even offer a range of fast homeowner loans for when funds have to be there for a set deadline.
Most loans can be completed using a desktop valuation, meaning there is no need for a physical valuation of your property, or the need to involve a solicitor.
This makes the application process much faster than other similar products such as a remortgage.
Can a loan broker help me to find the best interest rates?
Yes, a broker will help you find the best homeowner loan rates for your circumstances.
A big part of a broker’s job is to ensure that they’re securing the best deal for their customers, saving them as much money as possible on the cost of borrowing.
A broker will look at both the APRC and other soft factors, such as whether you require a fixed rate homeowner loan or variable and whether you expect to repay your loan early.
Read more – self-employed homeowner loans or apply for a homeowner loan.
Can I get a homeowner loan with bad credit?
Yes, we offer bad credit homeowner loans for borrowers who have poor credit such as a CCJ, default, previous mortgage arrears, IVA or bankruptcy.
For borrowers with poor credit, a broker can make the process of being approved for a homeowner loan far simpler. This is due to our understanding of the best lenders who will be understanding of the exact credit problems you have.
As ever, just make sure you’re not overpaying for your broker’s services.
Specialist lenders can also be more accommodating to unique circumstances. Some lenders may be more understanding of the fact that any past credit issues don’t necessarily represent your current financial situation, especially if they’re one-off issues.
If you are unsure what your finance options are, it’s worth getting in touch with a reputable broker.
How easy Is it to get a secured loan?
Getting a secured loan is easy as long as you understand how to choose the right lender and how to present your application.
A good broker can make the application process far simpler due to their deep understanding of the market and which lender is the best fit for your circumstances. If you meet the lender’s criteria and have sufficient equity in your property, there is a high chance that you’ll secure the funding you need.
FAQs
How much can I borrow?
Using a secured loan, you can borrow anything from £10,000 to £500,000.
Your maximum loan amount will depend on your property value, loan to value, chosen lender and your ability to meet your lender’s affordability criteria.
Lending is usually limited by the maximum LTV or affordability rules.
To understand how much your loan would cost, try our homeowner loan calculator.
How long can I borrow the money over?
This is known as your loan term. Most lenders offer a loan term between 5-25 years, with some offering up to 30 years.
Homeowner secured loans allow you to borrow over a longer term than is possible using an unsecured loan. A longer loan term will reduce your monthly repayments, but does mean you’ll pay more interest overall.
Conversely, a shorter term will increase your monthly repayments, but reduce the total cost of your loan.
If you’re unsure which term is best for you, your homeowner loans broker will be able to discuss this and help you to find the perfect balance.
Read more – can I remortgage with a homeowner loan or how many homeowner loans can I have?.
Are homeowner loans regulated by the FCA?
Yes, homeowner loans are regulated by the Financial Conduct Authority (FCA) in England.
The FCA only regulate loans secured against a property that you have ever, currently, or plan to reside in as your primary residence. The exception is loans secured against your home, which are to be used solely for business purposes. These loans are unregulated, although as an FCA regulated homeowner loan broker, we will still offer you the same high level of customer service, even on unregulated loans.
