{"id":266605,"date":"2020-07-22T11:09:03","date_gmt":"2020-07-22T10:09:03","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?page_id=266605"},"modified":"2025-07-15T10:34:37","modified_gmt":"2025-07-15T09:34:37","slug":"equifinance","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/personal-loans\/equifinance","title":{"rendered":"Equifinance homeowner loans"},"content":{"rendered":"
Overall representative example<\/strong>
If you borrow \u00a343,000 over 16 years at a rate of 10.25% variable, you will pay 192 instalments of \u00a3505.18 per month and a total amount payable of \u00a396,994.56. This includes the net loan, interest of \u00a349,404.56, a broker fee of \u00a33,995 and a lender fee of \u00a3595. The overall cost for comparison is 12.7% APRC variable.<\/div><\/article>

What is Equifinance?<\/h3>

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.<\/p>

How do Equifinance loans work?<\/h3>

Equifinance offers a type of secured loan known as a second charge mortgage<\/a>, 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.<\/p>

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.<\/p>

However, you should think carefully before applying for this type of loan because it puts your home on the line \u2013 if you don\u2019t keep up repayments you may lose your property.<\/p>

Equifinance secured loans<\/h3>
  • Repay over 3 to 25 years.<\/strong> Your repayment term will depend on your individual needs and circumstances.<\/li>
  • Borrow \u00a310,000 to \u00a3250,000.<\/strong> Equifinance allows you to borrow up to 100% of the value of your home, less the outstanding mortgage.<\/li>
  • Variable or fixed rates.<\/strong> You can choose to fix your interest rate for a pre-specified period of time to help you budget.<\/li>
  • Self-employed considered.<\/strong> Equifinance takes into account applications from people working for themselves.<\/li><\/ul>

    Am I eligible for an Equifinance secured loan?<\/h3>

    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.<\/p>

    How do I apply?<\/h3>

    Equifinance only accepts applications from authorised brokers. If you want to apply for a loan you can click on a \u201cGet quote\u201d 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.<\/p>

    Overview of Equifinance homeowner loans <\/h3>\n\n\n\n\n\n\n\n\n\n\n
    Loan amounts<\/th>\nFrom \u00a310,000 to \u00a3250,000\n<\/td>\n<\/tr>\n
    Age<\/th>\nFrom 21 to 80 years\n<\/td>\n<\/tr>\n
    Term<\/th>\nFrom 3 to 25 years\n<\/td>\n<\/tr>\n
    Maximum LTV<\/th>\nUp to 100%\n<\/td>\n<\/tr>\n
    Representative APRC<\/th>\nUp to 18.6%\n<\/td>\n<\/tr>\n
    Lender fee<\/th>\nfrom \u00a31295\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table> \n