Prestige Finance homeowner loans

If you're a UK homeowner with a mortgage, Prestige Finance could offer you a loan of £10,000 to £2,500,000, repayable over 3 to 25 years.


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


Whether you’re consolidating debt, improving your home or paying for a wedding, Prestige Finance could help with a homeowner loan – also known as a “second-charge mortgage”. Prestige Finance doesn’t lend directly to its customers – so you’ll need to apply through one of its registered brokers (which will receive a fee). Always compare lenders to ensure you are getting the most affordable deal for your circumstances before you go ahead.

What is a second-charge mortgage?

A second-charge mortgage is a type of loan that’s secured against your home, in the same way as your original mortgage. You’ll want to think carefully before taking out a second-charge mortgage, as your property will be at risk if you don’t keep up repayments.

Full guide to second charge mortgages

Key features of a Prestige Finance homeowner loan at a glance

  • Borrow £10,000 to £2,500,000. Prestige Finance allows you to borrow up to 90% of the value of your property, less the outstanding mortgage. The lower the percentage you borrow, the better your interest rate is likely to be. The amount you can borrow will also depend on your credit score.
  • Repay over 3 to 25 years. Your repayment term will depend on your individual needs and circumstances.
  • Variable or fixed rates. You can choose to fix your interest rate for a set term to help you budget.
  • Interest-only option. If you are a buy-to-let owner, you can choose for your monthly repayments to only cover the interest on the loan. The loan itself is repaid at the end of its term from the proceeds of sale of the property, or you will need to have another means of repaying it.
  • Lender fee. Prestige Finance will charge you a one-off fee when you take out your loan. This figure will be set out in your loan agreement. If a property valuation is needed, you will also be charged for this. There will be a further one-off fee if you are borrowing as a buy-to-let owner.
  • Security.Your home will be used as security on your loan. Missing repayments will put your property at risk, so always ensure that you can afford the loan you are asking for before you apply.
  • Overpayments. You can pay more than your set monthly repayments, up to a certain amount, without incurring a charge.
  • Poor credit ratings considered. Prestige Finance may still be able to lend to you if you have a less-than-perfect credit score. However, your interest rate will be higher than for customers with a good credit history.

Established in the mid-1980s, Prestige Finance is the UK’s longest-running second-charge mortgage provider. Formerly known as Sheldon and Stern, the company was rebranded as Prestige Finance in 2002. It was bought by specialist mortgage provider OneSavings Bank, in 2012.

Am I eligible for a Prestige Finance homeowner loan?

You should only apply for a Prestige Finance homeowner loan if you are certain you can meet the repayment terms. You must also meet the following criteria:

  • Over 21 years old (and you mustn’t be older than 85 at the end of your loan term)
  • Resident in England, Wales or Scotland
  • Have a minimum of 3 years’ address history
  • Homeowner or buy-to-let owner
  • Have a first-charge mortgage on your home

Prestige Finance states that these loans should not be used for business, transfer of equity, investment or financial speculation, for bridging or to install solar panels.

Frequently asked questions

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