Staffordshire, United Kingdom, April 03, 2023 (GLOBE NEWSWIRE) -- ABC Finance Ltd launched a homeowner loans service that is up to 55% cheaper than those offered by comparison sites in the UK. This came after a successful pilot that helped save clients’ money because of keeping fees minimal and fair. Borrowers can get money against their home equity to get a better loan offer.
The homeowner loans that ABC Finance Ltd offers are taken out alongside clients’ existing mortgages so that they can pay lower interest rates, get longer loan terms, and potentially borrow more money. If clients take out unsecured personal loans, they’d have considerably longer loan terms and higher interest rates to pay. ABC Finance Ltd makes it more affordable and simpler with their new homeowner loans service.
How the ABC Finance Ltd Homeowner Loan Works
The ABC Finance Ltd homeowner loan enables clients to receive it within 14-21 days compared to the 4-6 weeks that mortgages usually require. Clients get lower interest rates since the lender has security over their already existing property which makes it easier for borrowers who have a bad credit history.
Since the homeowner loan is secured credit, it is secured against the borrower’s home so only homeowners can qualify for this type of loan. Homeowners who are working on house renovations or are trying to consolidate other debts can greatly benefit from this type of secured homeowner loan. Borrowers get a better deal than they would if they got an unsecured personal loan. Depending on the interest charged and the repayment term, borrowers will have affordable monthly repayments.
For example, a borrower who takes out a £55,000 loan with a repayment period of 25 years can expect to pay about £185 per month. Or a borrower who takes out a £42,000 loan with a repayment period of 10 years can expect to pay about £355 per month. All other fees will be added to the total debt amount and borrowers will also pay the interest.
What Homeowner Loans Can Be Used For
These secured homeowner loans can be used for consolidating other debts, financing home improvements, or even releasing equity to buy more property. Borrowers will access the best loan deals depending on their specific circumstances so that they can pay the least fees and interest rates for their homeowner loans.
Here are other ways that the homeowner loan can be used:
- Borrow money for starting a new business
- Release equity to buy another property
- Borrow money to fund an existing business
- Finance large purchases like weddings, holidays, or a new car
- Finance home improvements
- Finance refurbishment or extension of an existing property
- Consolidate credit card debt and overdrafts
These are just some of the ways that the secured home loan can be used to improve a borrower’s financial situation. ABC Finance Ltd provides helpful resources for new borrowers who want to learn more about this kind of loan so that they can make informed decisions about their finances.
More About ABC Finance Ltd
ABC Finance Ltd offers a wide range of loans that borrowers can choose from according to their specific needs. Each loan product has extensive resources that can guide borrowers through the process and help them learn more about what that specific loan offers.
ABC Finance Ltd offers the following loan products:
- Business loans
- Second charge mortgage
- HMO mortgages
- Secured loans
- Commercial mortgages
- Bridging loans
These are just a few of the loan products that ABC Finance Ltd provides. You can learn more about them on their website: https://abcfinance.co.uk/
Source: https://thenewsfront.com/abc-finance-ltd-launched-a-homeowner-loan-after-successful-pilot/
