Hassle free commercial finance from UK experts

Homeowner business loans are a great way for homeowners to get the money they need to start or grow their businesses.

A homeowner loan is secured by the value of your house if you have equity in it. Your application will be evaluated based on the worth of your property. A landlord may apply for a homeowner business loan against his or her buy-to-let properties or portfolios.

If you’re thinking of taking out a homeowner business loan, there are a few things you need to know first.

  1. How much can you borrow?
  2. What are the interest rates and fees?
  3. How long do you have to repay the loan?
  4. What happens if you can’t repay the loan?

Knowing the answers to these questions will help you decide if a homeowner business loan is right for you.

How much can you borrow?

The amount you can borrow will depend on the value of your property and how much equity you have in it. You may be able to borrow up to 85% of the value of your home, minus any outstanding mortgage or loan payments.

What are the interest rates and fees?

Homeowner business loans typically have lower interest rates than unsecured business loans. However, the interest rate will still depend on the lender and your personal circumstances. Make sure you compare different lenders to find the best deal for you.

There may also be other fees to consider, such as arrangement fees, valuation fees and legal fees.

How long do you have to repay the loan?

The repayment term will depend on the lender and your personal circumstances. It’s important to find a loan that you can comfortably afford to repay.

It’s a good idea to borrow against the value of your home/ property if you want to take out a substantial sum of money that you won’t be able to get through an unsecured loan. It’s vital to note that, while the advantages and possibilities are enormous, so are the risks: missed payments might result in you losing your house

To get started with your homeowner business loan, speak to one of our specialists today.

Get in touch with a member of our team to start your commercial finance enquiry

What can you use commercial finance for?

Most commonly used by landlords, homeowners and property developers to: