Gallent Finance Home owner Loan FAQs

We offer home owner loans for customers from £5,000 - £250,000 (Sometimes more) but there are different factors that may influence how much you can borrow. The following are some examples:

If you are applying for a secured loan, the following will influence how much you can borrow:

The above list is by no means complete this is where our role as finance brokers comes in. We have access to the loan market and can submit your home owner loan application to the lender most likely to lend you money and at the best homeowner loan rate. Apply Home owner Loan

If you are applying for a loan that is not a secured loan, then you are subject to the standard maximum amount of £25,000. To see if you qualify for a personal loan see our Personal loan section.

You have a choice ranging from three to thirty years (secured loans) and one to seven years (personal loans). All loans can usually always be settled earlier by you paying a settlement figure that would be set by the lender upon application. Apply for a secured loan online

On the vast majority of our home owner loans we are able to offer interest rates fixed for up to five years (where the loan term is 60 months or longer). Fixed rates of interest for up to fifteen years and capped rates are also available on some home owner loan plans.

We do not charge you any fees for our homeowner loan finance services, we are paid by the lender. We also do not charge our commercial customers. This is even less common in the finance market. If we have to refer your loan to another broker then they may charge you a broker fee. This is usually only in cases of adverse credit or a high loan to value.

We are, in most circumstances, able to offer our homeowner loan customers an optional protection package that would protect against this. This would protect you against unemployment and sickness. If you would like this service you can discuss it with an advisor after you apply for a homeowner loan. We do not actually provide insurance advice ourselves but most homeowner loan lenders would be happy to provide you a quote in addition to your loan repayments.

We use our knowledge of the loan and home owner loan market to help find you the best type of loan and at the best rate we can.

Usually there are no restrictions on what a homeowner loan can be used for. You can consolidate existing outgoings, use the money for home improvements, holiday or a new car or .....

This is no problem. Your home owner loan balance outstanding will be calculated and a rebate given on the outstanding interest in accordance with the Consumer Credit Act 1974.

If you have applied for a personal loan you would just write to the lender informing them of your new address. If, however, you have a secured loan with us you simply pay the outstanding loan balance from the proceeds of the sale or alternatively we may be able to transfer the loan to your new property.

This depends on the type of loan you have applied for. Secured loans can usually be completed in 14 days of receiving all of the necessary documents. Personal loans are usually within 72 hours. A lot of the time scale depends on how quickly you send us any documentation we may need.

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There is a question on the application I cannot answer?

Unlike many other home owner loan online applications, the website will not come up in red letters warning you that you have missed a question. Fill in what you can now and we can make arrangements for the questions you cannot answer. As long as you answer most of the questions we can start work on your application immediately. We accept that you want your loan as soon as possible.

Unlike some other lenders/brokers your details are collected through a secure server using 128-bit encryption. This prevents your details fr.om being viewed by any other party.

This probably means the secure server, that the homeowner loan application/contact page runs on, is offline. It is possible for the rest of the site to function perfectly as none of this runs on a secure server. The problem is usually only temporary and you can try refreshing your browser. Because we feel that our customers want their details kept private we have made the site dependent on a secure server. If the problem persist, please call us on 0870 042 3760.

You may also apply by fax or post, by downloading a printable version of the application, from the Home Owner Application Page.

We will usually process your home owner loan application within 1 hour and forward it to the lender that can offer the best rate for your personal circumstances. You are under no obligation, at this stage, to accept the loan.

For homeowner loans some or all of the following may also be requested from you:

Yes, at some stage a credit check will be done. By applying to Gallent Finance we aim that this credit check is only done once and we do this by matching your personal circumstances to a suitable homeowner loan lender. This prevents multiple credit checks having to be done that can actually damage your credit rating.

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Are fixed interest rates available on my repayments?

On the vast majority of our homeowner loans we are able to offer interest rates fixed for up to five years (where the loan term is 60 months or longer). Fixed rates of interest for up to fifteen years and capped rates are also available.

All of the personal loans we arrange offer fixed interest rates.

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Secured Loan or Personal Loan?

In deciding what loan is best for you the following should be considered:

1) If you want a loan of up to £25,000 and you want to repay it in no longer than 7 years, then a personal loan would be best. Typically these loans are used for buying a single item e.g. a car.

2) If you want a loan up to 100% the value of your house (Depending on your equity) then a homeowner loan maybe better. A secured homeowner, loan would also be better if you want smaller monthly repayments by repaying your loan over a longer term. It is possible to spread your payments out for up to 30 years with a secured, homeowner, loan. These type of loans are often used for home improvements or debt consolidation. Your monthly repayments, on a secured loan, would be significantly less per month than several smaller personal loans of the same value. This is because homeowner loans can be paid over a longer period of time.

Each of these loan types come with optional repayment insurance that protects you if you are made redundant or if you are unable to work because of illness.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. SECURED HOMEOWNER LOANS.

Gallent Finance Limited (Home owner Loans and Secured Loans) is an associate company of Gallent Limited.

HOMEOWNER LOAN FREQUENTLY ASKED QUESTIONS (FAQs)

HOME OWNER LOAN QUESTIONS: