Do you own a home and need to borrow money? If you search for “homeowner loans” on Google, you’ll find many lenders and brokers eager for your application. However, most require you to use your home as collateral.
For some, this is acceptable. For others, risking their home is not an option. After all, your home is where you and your family live, making it one of your most valuable assets. LoanTube partners with lenders who offer homeowner loans without requiring any security—no property, car, or guarantor needed.
Understanding Homeowner Loans
Homeowner loans provide a financial lifeline for various needs. In this article, LoanTube explains how these loans work, the borrowing limits, repayment periods, and lender expectations.
Maximise your options: Compare and apply for loans below with LoanTube
Apply Filters
Loan Amount
£4000 -
£20000
Norwich Trust
Loan Term
1 -
10 years
4.8/5
Representative APR
31.90%
Minimum Age
21 Years
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
4.8/5
Norwich Trust
Loan Amount
£4000 -
£20000
Loan Term
1 -
10 years
Representative APR
31.90%
Minimum Age
21 Years
Minimum Income
£2000 per month
Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.
Loan Amount
£5000 -
£100000
Evolution Money Loans
Loan Term
1 -
20 years
4.5/5
Representative APR
28.96%
Minimum Age
18 years
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
4.5/5
Evolution Money Loans
Loan Amount
£5000 -
£100000
Loan Term
1 -
20 years
Representative APR
28.96%
Minimum Age
18 years
Minimum Income
Not mentioned
Representative Example: Loan Amount: £20950.00, Loan Term: 85 Months, Interest Rate: 23.00% PA Variable. Monthly Repayments: £537.44. Total Amount Repayable: £45,682.15. This example includes a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00
Loan Amount
£1000 -
£10000
1Plus1 Guarantor Loans
Loan Term
1 -
5 years
4.4/5
Representative APR
39.90%
Minimum Age
18 years
Representative Example: Borrowing £3000 over 36 months with a representative APR of 39.9% (variable),the amount payable would be £134.21 a month,with a total cost of credit of £1831.56 and a total amount payable of £4831.56.
4.4/5
1Plus1 Guarantor Loans
Loan Amount
£1000 -
£10000
Loan Term
1 -
5 years
Representative APR
39.90%
Minimum Age
18 years
Minimum Income
Not mentioned
Representative Example: Borrowing £3000 over 36 months with a representative APR of 39.9% (variable),the amount payable would be £134.21 a month,with a total cost of credit of £1831.56 and a total amount payable of £4831.56.
How Online Homeowner Loans Work
Applying Online
Most people now apply for homeowner loans online. This method saves time compared to scheduling an in-person bank appointment, which may take weeks. Online applications for unsecured homeowner loans range from £1,000 to £35,000, with repayment periods between 12 months and 7 years.
Eligibility and Loan Terms
Lenders assess your financial history and creditworthiness before offering a loan. Your income, existing debts, and credit score play a crucial role in determining eligibility. Unlike secured loans, unsecured homeowner loans do not require collateral, reducing the risk to your assets.
Common Uses for Homeowner Loans
People take out homeowner loans for various reasons. Below are some of the most popular uses:
- Debt consolidation – Pay off high-interest debts like credit cards and other loans. Combining debts often results in lower monthly repayments.
- Home improvements – Upgrade your kitchen, bathroom, or add a conservatory. Use a homeowner loan to cover costs beyond your savings.
- Buying a car – Need a new car? A homeowner loan may offer better rates than dealership financing.
Will the Interest Rate Be High?
Factors Affecting Interest Rates
Interest rates on unsecured homeowner loans are generally higher than secured loans, but not significantly. Your financial circumstances and credit score determine the rate you receive.
Ensuring Repayment
Before accepting a loan offer, make sure you can repay it in full and on time. Failing to do so may damage your credit score, making future borrowing more difficult.
How LoanTube Can Help
Finding the Best Loan Options
LoanTube connects you with reputable lenders across the UK. Since we are a broker, not a lender, we act as a matchmaker between borrowers and lenders. Each lender has different criteria based on income, debt levels, and credit scores.
How Our System Works
- We collect your application details and check your credit report.
- Our system finds the lenders most likely to approve your request.
- We submit your application to multiple lenders simultaneously.
- Lenders return their offers, and we present the best options to you.
Understanding Your Loan Offer
If we find multiple lenders willing to offer you a loan, we compare their offers. Our system displays key details such as:
- Interest rates and monthly repayments
- APR and overall borrowing costs
- Any applicable default fees
Making Your Decision
You decide whether to proceed with the loan. If you choose to accept an offer, review the lender’s terms carefully. Once you approve, funds may arrive in your account within an hour, depending on your bank.
No Obligation, Free Service
Using LoanTube is completely free, and you are under no obligation to accept any offer. To find a homeowner loan that doesn’t put your home at risk, start your application by clicking here.
