We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue

How much can you borrow FAQ

How much can you borrow against your house?

Secured Loans > Our Loans > Homeowner Loans > Secured Loan FAQ > How much can you borrow against your house?

The amount of money you can borrow against your home through a secured homeowner loan depends on your lender. You can usually borrow against the value of your home’s equity.

A secured homeowner loan allows you to borrow a sum of money against your property, usually equity. Equity is the difference between the value of your home and the borrowing you have against it.

These loans are for homeowners or mortgage payers who may want to borrow a larger sum of money than they normally could with a personal loan. Another option could be to re-mortgage your house to provide funds.

  • You could take out a percentage of your home’s value, the amount you may be able to borrow could be up to £100,000
  • Due to the large amount, your repayment term may be longer than standard loans, potentially lasting between five and 20 years
  • As your home acts as the security against the debt, failure to make monthly payments could result in repossession – a process where your home is taken away by a secured loan lender
  • An alternative means of using your home’s value for financing is re-mortgaging – switching from one mortgage to another to free-up funds

For a secured homeowner loan, it’s important that payments are affordable and you find a suitable repayment period.

Homeowner loans are often for large projects, so consider whether this would be a suitable option for the finances you need.

A poor credit rating won’t necessarily prevent you from being approved for a secured loan, but it is best to check a lender’s criteria.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.

Socialise

Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2020 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution