Homeowner Loans
Borrow £3,000 - £25,000 without the risk of your home being repossessed. Straightforward loans from an FCA authorised lender.
Homeowner loans provide a borrowing option for homeowners who may not qualify for a secured loan, or prefer not to use their property as security.
No restrictions if you own your home outright or have limited equity - we assess each application individually.
Benefits of a homeowner loan
Representative Example: £13,000 over 66 months, 34.9% APR fixed. Monthly payment £406.79. Annual interest rate 29.56% fixed. Interest payable £13,649.14. Total repayable £26,848.14, which includes a £199 lender fee.'
Minimum repayment period: 36 months. Maximum repayment period: 120 months. Maximum APR 37.9%.
Homeowner loan uses
We offer loans for many purposes including...
Debt consolidation
Home improvements
Vehicle Finance
Weddings
Homeowner Loan Criteria
Age
You must be at least 21 at the start of the loan term and under 71 at the time the loan ends.
Location
You must have been a UK resident for at least the last two years.
Employment
You’ll need to have monthly income after tax of at least £1,300 or £1,800 if you’re under 30 years of age to be eligible.
Homeownership
Applicants must own a residential property in the UK. This includes shared ownership and buy to let properties, properties purchased using help to buy, as well as those owned outright. You must be named on the deeds of the property to be classed as a homeowner.
3 steps to applying for a Homeowner Loan
Complete the online application and authorise us to review your bank account transactions via Open Banking.
Complete an affordability assessment with a member of our lending team.
A few final checks and then we’ll transfer the loan funds.
Frequently asked questions about Homeowner Loans
A Norwich Trust homeowner loan is an unsecured loan, available exclusively to homeowners in the UK that does not use your property as security.
Norwich Trust offers homeowner loans of between £3,000 and £25,000. The amount you can borrow will depend on your financial circumstances.
Our interest rates range from 25.9% to 34.9% APR and are fixed for the whole of the loan term. The APR is based on the loan amount, so what you see is what you get.
We offer loan terms from 3 to 10 years depending on the amount you borrow
We can usually get you a decision within one working day.
Homeowner loans can be used for a variety of purposes, including debt consolidation, home improvements, weddings, or vehicle purchases.
Norwich Trust charges a £199 lender fee which is added to the loan, and included in the monthly repayment. There are no upfront costs for processing your application.
Yes. You can repay your loan in full at any time, however there will be an early settlement fee which is usually around 2 months interest.