Our homeowner loan products are available to qualifying homeowners and owners of Buy-to-Let properties in England, Scotland and Wales with loan amounts available up to £150,000 (loans over £150,000 may be considered on a case by case basis).
A Step One homeowner loan is also known as a secured loan or a second mortgage loan. Step One lends for most purposes and has products to suit most customers. A Step One homeowner loan can potentially offer a lower rate of interest when compared to unsecured personal loan products but we recommend that potential borrowers consider all of their financing options to obtain the best solution for their needs.
Typical Uses
- Home improvements
- Car, boat or other large purchase
- Wedding or other significant life events
- Debt consolidation
- Dream holiday
- Equity release for the purchase of another property
- Unexpected tax bill
- Business expansion
Key Features
- Borrow up to 95% loan to value (LTV). The total LTV includes the amount of your current first mortgage.
- Competitive loan rates.
- Loan amounts available from £10,000 up to £150,000 (loans over £150,000 may be considered on a case by case basis).
- Repayment periods available from 6 years to 30 years.
- Variable and 5 year fixed rates available across our product range.
- No up-front application fees. Our lender fee is only charged if you take out a loan with us. Depending on the requested LTV we may need to undertake a property valuation and will advise you of these costs before any work is undertaken.
- No hidden fees. We will always tell you about all of our fees in a clear and transparent manner.
Our lending criteria
- Minimum loan size £10,000
- Maximum loan size £150,000 for residential and £100,000 for buy-to-let
- Minimum age 21 years
- No maximum age
- Minimum income £20,000 for sole applicants and £25,000 for joint applications
- Minimum 6 months at current address
- Loans available in England, Wales and Scotland
- Up to 95% LTV Residential (85% LTV Maximum in Scotland) and 85% LTV on Buy to Let