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| Please select a letter to find a description i.e. for "interest" select "I" from the table below. |
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Refers to the supply of small loans, repayments for which are then collected in installments (often weekly or fortnightly) from the Customer’s home. Interest rates charged are generally much higher than other methods of borrowing. |
Home Reversion Loan |
A plan that allows a homeowner(s) to sell a percentage of their home to the reversion provider in exchange for a cash amount. The Customer can continue to live in the property rent free until either the homeowner(s) die or leave the property. When this occurs, the property is sold by the reversion company and they deduct their percentage of ownership from the final sale price after deducting costs of the property sale. If anything less than 100% has been sold via the plan the remaining amount is returned to the Customer or their estate. From 6th April 2007 HRL's are regulated by the FSA. |
Homeowner |
A person who owns their home with a mortgage and lives at the property. They are an owner occupier. |
Homeowner Loan |
A homeowner loan is also known as a secured loan. It is a loan allowing them to use the value in their property as security to protect the Lender in the event that the loan is not paid back. Click here to see how BFS can help you to find a good Homeowner loan. |
Homebuyers Report |
A detailed structural report of a property carried out by a qualified surveyor. It is better than a basic valuation for mortgage purposes and is sent to you directly. It is generally more expensive than a basic valuation. |
Home Improvement Loan |
| Loan taken out to improve your property. Click here to see how BFS can help you to find a good Home Improvement loan. |
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The overall cost for comparison is 10.8% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. Our rates start from 7.9% APR variable. We also have a range of plans with rates up to 17.5% APR allowing us to help customers even with the most severe credit problems. If you are thinking of consolidating existing borrowing you should be aware that you will be extending the terms of the debt and increasing the total amount you repay. A fee of between 0% and 10% of the loan may be charged depending on credit history and ability to prove income. The amount of fee will depend on your circumstances, however, we estimate that it will be 5% of the loan amount.