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Which Loan is the Best for First-Time Buyers?

Homeowner Loans

Secured Loans > Our Loans > Homeowner Loans > Which Loan is the Best for First-Time Buyers?

Which Loan is the Best for First-Time Buyers?

At Evolution Money, we offer a wide range of secured loans ranging from £5,000 to £50,000 with flexible lending terms from 1 – 20 years and a competitive rate of interest. If you’ve recently stepped on to the property ladder and purchased a property for the first time, then you may be considering a loan to contribute towards home improvements or other expenses. So, which Evolution Money loan is best for first-time buyers?

Homeowner Loans for First-Time Buyers

If you own your home and currently possess a mortgage, then a homeowner loan from Evolution Money could help you to reach your financial goals. One of the many options for first-time buyers, customers could receive up to £50,000 with our secured homeowner loans and repay it over a suitable lending term ranging from 12 months to 20 years.

With loan amounts starting at £5,000, the homeowner loan from Evolution Money allows you to choose how much you’d like to borrow and then repay over a time-frame to suit you. This means our customers can benefit from more manageable monthly repayments.

What Can Homeowner Loans be used for?

Our Homeowner loans are ideal for first-time buyers as they can be used for a range of purchases, including:

Paying for Home Improvements

As a first-time buyer, you may have big plans for your home, whether you intend to add value by converting the loft space or extending the property, or you’d like to put your stamp on it and renovate throughout. However, home improvements can prove costly, and you may find yourself needing to borrow money, especially if you have only recently parted with your mortgage deposit.

With a homeowner loan, you could pay for the labour and materials needed to extend your living area, install your dream kitchen or bathroom, buy new furniture, fit a conservatory and much more. You may even decide to invest your loan amount on fitting an energy-efficient central heating system or other eco-friendly solutions in order to save money on your household bills.

Covering the cost of your Wedding

Now that you’ve ticked owning a home off the list, you may be considering your special day. Weddings can be expensive, from hiring the venue and cars to buying the rings and paying for the caterers.

If you could do with some financial assistance to cover the cost of your wedding, then a homeowner loan may be the right borrowing option. With loan amounts ranging from £5,000 to £50,000, you’re able to borrow as much as you need and then repay the loan amount over a time-frame that suits you.

Financing Larger Purchases or Holidays

A homeowner loan could also be used to finance larger purchases such as a new car or a much-needed family holiday.

Buying your first home isn’t always easy, and it’s likely that you’ve had to save for a while before applying for a mortgage. However, now that you’re settled in it may be time to focus on some other aspects of your life and finally upgrade your car or make that once-in-a-lifetime trip happen.

What if I have a Poor Credit History?

At Evolution Money, we know how difficult and frustrating the process of applying for loans and other borrowing options can be. That’s why we like to say ‘yes’ to as many of our secured loan applicants as possible and, unlike other lenders, consider your unique financial circumstances rather than just an automated credit check.

So, even if you’ve got a poor credit history or have been refused a loan previously you may still be accepted for a Homeowner Loan with Evolution Money.

Applying for a Homeowner Loan with Evolution Money

Our simple application process makes applying for a Homeowner Loan with Evolution Money quick and easy. However, before applying, it’s important that you’re aware of the potential commitment you’re making and that you fit the following criteria:

  • Are you aged 21 or over?
  • Do you own your home?
  • Do you live in the UK?
  • Are you able to make the monthly repayments comfortably?

If you answered yes to the above questions and are considering your borrowing options, then don’t hesitate to contact Evolution Money today! Call 0161 814 9158 and discover how a Homeowner Loan could be your ideal borrowing option.

Or, to apply online, simply fill in a few details, and one of our expert loan advisors will soon be in touch with your no-obligation quote (that won’t affect your credit history).

Please note that before accepting a customers application, Evolution Money will carry out an independent affordability check as a homeowner loan will be secured against your property and failure to make regular repayments could result in the potential repossession of your home.

Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
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