A homeowner loan allows you to borrow money using your property as security. It is sometimes referred to as a secured loan or second-charge mortgage and is usually repaid through monthly payments over an agreed term.

The amount available will depend on factors including your income, regular expenditure, credit history, property value and the amount outstanding on your existing mortgage. The lender will also assess whether the monthly repayments are affordable.

Equity is the difference between the current value of your property and the amount you still owe on your mortgage and any other loans secured against it.

For example, if your home is worth £300,000 and your outstanding mortgage is £180,000, you have approximately £120,000 of equity. This does not necessarily mean you can borrow the full amount, as lending limits and affordability checks will apply.

An initial eligibility check may use a soft credit search, which does not affect your credit score and is not visible to other lenders. A full application will usually involve a hard credit search. We will explain which type of search will be completed before proceeding.

Yes, subject to eligibility and affordability. Debt consolidation can combine several existing debts into one monthly repayment. However, extending short-term debts over a longer period may reduce your monthly payments but could increase the total amount you repay.