Home loans play a very important role in lives of UK nationals. Every year there are borrowings worth billions of pounds by UK nationals for home loans. Now days, home loans have become a necessary part of life as it is not essential that one has necessary amount of money to finance his immediate requirement for purchasing home. One can avail home loans, after signing a document with a financial institution on a specified amount of money to go with purchase with that borrowed money. Lenders and financial institutions keep house or any other residential property as collateral. In UK, home loans are offered by innumerable financial institutions at various APR. The amount of loan approved usually depends on income and assets of borrower and his capacity to pay back loan.

In UK, home loans offered are of two types:

Bad Credit Personal Loan

A Bad Credit Personal Loan is a loan designed for many people with a bad credit rating. However created, your past record of County Court Judgements, mortgage or other loan arrears can live on to deny you access to finance that other people regard as normal. If you are a home owner with equity in your property, a Bad Credit Personal Loan can bring that normality back to your life. Secured on your home, a Bad Credit Personal Loan can give you freedom, for example, to do home improvements or buy new car you really wanted. With a Bad Credit Personal Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases.

Bridging Loan

A bridging loan as name implies is a loan used to “bridge” financial gap between monies required for your new property completion prior to your existing property having been sold. Bridging loans are short term loans arranged when you need to purchase a house but are unable to arrange mortgage for some reason, such as there is a delay in selling your existing property. The beauty of bridging loans is that a bridging loan can be used to cover financial gap when buying one property before existing one is sold A bridging loan can also be used to raise capital pending sale of a property. Bridging loans can be arranged for any sum between £25000 to a few million pounds and can be borrowed for periods from a week to up to six months. A bridging loan is similar to a mortgage where amount borrowed is secured on your home but advantage of a mortgage is that it attracts a much lower interest rate. While bridging loans are convenient interest rates can be very high.

Business Loan

A business loan is designed for a wide range of small, medium and startup business needs including purchase, refinance, expansion of a business, development loans or any type of commercial investment. Business loans are generally available from £50,000 to £1,000,000 at highly competitive interest rates from leading commercial loan lenders. A business loan can be secured by all types of UK business property, commercial and residential properties. Business Loans can offer up to 79% LTV (Loan to Valuation) with variable rates, depending on status and length of term. Business loans are normally offered on Freehold and long Leasehold properties with Bricks and Mortar valuations required. Legal and valuation fees are payable by client.

Car Loan

The main types of car loans available are Hire Purchase and Manufacturer’s schemes. Hire purchase car finance is arranged by car dealerships, and effectively means that you are hiring car from dealer until final payment on loan has been paid, when ownership of vehicle is transferred to you. A Manufacturers' scheme is a type of loan that is put together and advertised by car manufacturer and can be arranged directly with them or through a local car dealership. You will not be owner of vehicle until you have repaid loan in full, and car will be repossessed if you default on repayments.

Cash Loan

Cash Loans also known as Payday Loans are arranged for people in employment who find themselves in a situation where they are short of immediate funds. A Cash Loan can assist you in this situation with short term loans of between £80 and £400. Loans are repayable on your next payday, although it is possible to renew your loan until subsequent paydays. To apply for a Cash Loan you must be in employment and have a bank account with a cheque book. A poor credit rating or debt history is initially not a problem.

Debt Consolidation Loan

Debt consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest. Secured on your home debt consolidation loans can sweep away pile of repayments to your credit and store cards, HP, loans and replace them with one, low cost, monthly payment – one calculated to be well within your means. With a Debt Consolidation Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases. It can reduce BOTH your interest costs AND your monthly repayments, putting you back in control of your life.

Home Loan

A Home Loan is a loan secured on your home. You can unlock value tied up in your property with a secured Home loan. The loan can be used for any purpose, and is available to anyone who owns their home. Home loans can be used for any purpose such as, home improvements, new car, luxury holiday, pay of store card or credit card debt and debt consolidation. With a Home Loan you can borrow from £5,000 to £75,000.

Home Improvement Loan

A Home Improvement Loan is a low interest loan secured on your property. With a Home Improvement Loan you can borrow from £5,000 to £75,000 with low monthly repayments. The loan can be repaid over any term between 5 and 25 years, depending on your available income and amount of equity in property that is to provide security for loan. A Home Improvement Loan can help you with a new kitchen, bathroom, extension, loft conversion, conservatory, landscaping your garden or new furniture. You can even use it on non-house expenditure like a new car or repaying credit card or other debts.

Home Owner Loan