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Home Owner Personal Loans

When you own your own home, lenders love you

The lowest interest rates – mortgages excepted – tend to be for home owner personal loans. There are two key reasons for this: many such loans are secured on property, which reduces the risk to the lender; and home owners are unlikely to borrow large sums and immediately flee the country.

Lenders love home owner personal loans, which is good news for consumers: if you own your own home then lenders will see you as a good credit risk, and as a result you'll find lots of firms willing to consider your application and willing to give you very low interest rates. The news is even better if you have a mortgage with the same lender: many banks and building societies offer ultra-cheap loans to existing mortgage customers.
Home owner personal loans are usually secured on your property, which means it's important to make sure you can afford the repayments; unsecured home owner personal loans are also available, but the selection is smaller and interest rates are usually higher. Whether you go for secured or unsecured loans, unless you borrow a massive amount over a considerable length of time you'll usually find that the interest rate is fixed at the time you take out the loan – which means your payments shouldn't increase over the life of the loan. helps you find the best loans companies for your specific needs, and gives you background information on the various types of loans available in our loans articles, more loans articles and still more loans articles.

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