Advice, homeowner loans, information and guides from homeowner loan brokers. If you
have been bankrupt, finding a homeowner loan can be difficult. Find
advice, information and guides on homeowner loans
for discharged bankrupts, IVA homeowner loans,
homeowner loans with CCJ's, information on poor credit and
bad credit homeowner loans, advice on
homeowner loan arrears, guides on homeowner loans with county court judgements and
solutions for poor credit homeowner loans
through specialist homeowner loan brokers.
There are various steps you can take to try to avoid bankruptcy. But once you have been bankrupt, it can affect your ability to get a homeowner loan for many years to come.
People who have been bankrupt in the past often find it tricky or impossible to obtain a homeowner loan or secured loan through a
traditional high street lender. But some specialist lenders who offer homeowner loans for bankrupts will consider your case more favourably if you are a discharged bankrupt.
The homeowner loan brokers we work with have the experience to know which homeowner loan lenders will be most
likely to offer a homeowner loan to a former bankrupt. They will do everything they can to find a homeowner loan or secured loan package
for someone who has been discharged from bankruptcy.
For further information, please complete our enquiry form.
HOMEOWNER LOAN GLOSSARY
Arrangement Fee
A fee which is sometimes payable to the homeowner loan lender when you opt for a special deal, such as a capped, discounted, or fixed rate homeowner loan.
Base Rate Tracker Loan
See Tracker Homeowner Loan.
Capital & Interest Loan
See Repayment Loan.
Capped Rate Homeowner Loan
A homeowner loan where the interest rate is capped at a certain level for a set number of years. The interest rate can go up and down, but is
guaranteed not to exceed this level during the capped rate period.
Cashback Homeowner Loan
A homeowner loan which gives you a cash lump sum on completion.
Discounted Rate Homeowner Loan
A homeowner loan where you get a discount on the interest rate during the initial special offer period.
Early Repayment Penalty
See Redemption Penalties.
Fixed Rate Homeowner Loan
During the fixed rate period, the interest rate on this type of homeowner loan stays the same, regardless of changes in the Bank of
England base rate. This means your monthly homeowner loan repayments are the same each month even if interest rates go up or down.
Flexible Homeowner Loan
A flexible homeowner loan allows you to make overpayments and take payment holidays. These can be especially attractive
for self-employed borrowers whose income may fluctuate throughout the year.
Redemption Penalties
If you repay your homeowner loan early, or switch lenders, whilst on a special homeowner loan deal, you may have to pay a redemption penalty to the homeowner loan lender.
Repayment Homeowner Loan
With a repayment homeowner loan, part of the amount you pay each month covers the interest on the loan and part goes towards repaying the homeowner loan capital.
Standard Variable Rate homeowner loan
The interest rate on a standard variable rate (SVR) homeowner loan can go up or down during the course of the loan. Sometimes, the rate will remain unchanged for months at a time, but at other times it may fluctuate from one month to the next. The SVR charged by homeowner loan lenders is determined mainly by the Bank of England base rate, which is reviewed once a month. When the Bank of England changes the Base Rate, homeowner loan lenders will usually (but not always) adjust their SVR up or down accordingly.
Tracker Homeowner Loan
When you have a tracker homeowner loan (also known as a base rate tracker homeowner loan) the interest rate is guaranteed to move up and down in line with the Bank of England base rate. Consequently, it will always be a set number of percentage points above (or sometimes below) the Bank of England's base rate.
