Equifinance is a specialist lender that provides second charge mortgages for homeowners looking to use the equity they have in their home as security against a new loan. It also claims to offer lending products to those who have experienced financial difficulty in the past, or who have an unusual employment situation, such as being self-employed or new to their current job.
Equifinance offers a type of secured loan known as a second charge mortgage, which can be useful when you need funds for debt consolidation, home improvements or a bigger one-off purchase. A second charge mortgage uses the equity you have in your house as a guarantee against a new loan, without forcing you to remortgage or change your existing mortgage.
As a type of secured loan, Equifinance second charge mortgage loans may also offer more competitive interest rates than a regular unsecured loan, as well as longer repayment terms.
However, you should think carefully before applying for this type of loan because it puts your home on the line – if you don’t keep up repayments you may lose your property.
To apply for an Equifinance homeowner loan you must be living in England, Wales or Scotland. You also need to be over the age of 21 and the loan term must end on or before your 80th birthday.
Equifinance only accepts applications from authorised brokers. If you want to apply for a loan you can click on a “Get quote” button above. After filling out your contact information and details about your property value and mortgage, an adviser will call you to discuss your application.
| Loan amounts | From £10,000 to £250,000 |
|---|---|
| Age | From 21 to 80 years |
| Term | From 3 to 25 years |
| Maximum LTV | Up to 90% |
| Representative APRC | Up to 19.9% |
| Lender fee | from £995 |
Finder collaborated with the smart money app, Plum, to compare how easy access savings rates around the world compared with the local base rate.
Everything we know about the OpenAI IPO, plus information on how to buy shares.
Many households in the UK are struggling to save, so Finder’s experts have put together these tips to help you boost your savings.
Finder’s experts explain the impact of the changes your finances.
Discover how to open a business bank account in the UK, from the documents you’ll need to whether you’re eligible for a business bank account, we’ve got it covered.
We looked at how global savings interest rates fared against the UK base rate in 10 countries around the world.
Learn Finder’s 7 tips for how to play the sales and win. Plus, our video reveals the discounts we expect to see from top brands this year.
Looking to diversify your investment portfolio? Mutual funds could be a good addition. Here’s how they work.
7 in 10 Brits (70%) have experienced financial stress, so we look at the latest statistics to see the impact money has on our mental health.
