Home loans

What are home loans?

We explore how they can help you borrow money to buy a home, raise finance using your existing home, or for equity release.

Home loans can generally mean one of 3 things

Firstly, it could mean that you wish to borrow money to buy a home, or change an existing loan you have on your home. This is also called a mortgage loan or a remortgage loan. You can explore our range of mortgages here – see if you can find one to suit your needs.

Secondly, home loans can refer to using the value in your home to raise finance for something else – like buying a car or consolidating debts. This is sometimes called home finance or a homeowner loan.

Thirdly, home loans can be used to describe equity release – a scheme that enables you to raise cash in exchange for a percentage of the equity in your home. You remain living in the home, but it may be partly or wholly owned by a finance company when you pass away.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.