Our homeowner loan in detail
Did you know that, if you’re a homeowner, you could save more than 50% on your monthly repayments with a Secured Barclayloan? This is achieved by spreading your new loan over a longer term. By doing this, your overall
interest payments will increase.
What is a homeowner loan?
Barclays homeowner secured loan
APR
Special introductory offer 4.9% for 90 days, followed by a rate of 8.6%. The overall cost for comparison is 8.5% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.
Interest charging
The interest rate is variable. It is charged on the outstanding balance calculated daily from the date the loan is drawn until repaid in full, debited monthly in arrears.
Repayments
Payment is by monthly Direct Debit. First monthly repayment is due one month after the date the agreement is made.
Repayment period
Loans are available over 5 to 25 years (60 to 300 months).
Amount available
Loans are available from £5,000 to £100,000 up to the value of your house, less your existing mortgage balance.
Arrangement fee
Special offer - No arrangement fee applies to the current special offer. An arrangement fee may apply to future product offerings
Default fees
Costs and charges will be incurred in the event that you fail to make payments or break the terms of agreement, these include Unpaid Direct Debit £27.50, Arrears letter £25.00 and Default notice £40.00. Such charges may be varied by us from time to time, to reflect changes in our costs, which you will be notified of. You may also be liable to us for any other reasonable costs, charges and expenses that we may incur or have to pay to a third party including legal costs which arise out of your breach of the agreement.
Early settlement
If the loan is settled early, an early repayment charge will apply during the loan period. A rebate of charges will be calculated in accordance with a formula laid down by consumer credit regulations. This calculation provides some compensation to us, by way of interest, for your loan being repaid early.
Still have questions?
View all FAQs, call us on 0800 183 0513* or type your question in the box on the left.
