What are home loans?
Home loans can generally mean one of three 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.
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 die.
At Barclays, we can help you with:
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.