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Lloyds Bank Loans
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Compare the best loans to Lloyds Bank using our loan comparison calculator. Best rates for secured homeowner finance.
Founded in Birmingham in 1765, Lloyds Bank is a British retail and commercial bank with more than 45,000 employees and 22 million current account customers. Lloyds Banking Group Retail is the UK’s largest provider of its kind and is continually diversifying its portfolio with dynamic, flexible, and innovative new financial services for businesses and private customers alike.
Secured loans at Lloyds Bank
Lloyds Bank currently offers a range of flexible secured loan products for existing mortgage customers. Available for a variety of purposes, secured loans at Lloyds Bank are secured on the same property the initial mortgage was used to purchase.
Additional characteristics and features of these secured loans include the following:
- £20,000 is the minimum amount you can borrow.
- Borrow up to 85% of the total value of the property.
- The current mortgage must have been active for a minimum of six months.
- There must be no outstanding mortgage payments or arrears at the time.
- Credit checks and proof of income or financial status may be required.
- Interest rates and overall borrowing costs vary significantly.
Lloyds Bank also operates a specialist business borrowing arm, which offers secured loans for a variety of investment and general business purposes. All applications are considered by way of merit and the financial status or credit history of the applicant.
Sourcing secured finance products with Donkey Finance
Search beyond the High Street, and you stand to access exclusive deals and discounts on the UK’s most dynamic secured loans. Here at Donkey Finance, we work hard to provide flexible and affordable alternatives to the secured loans of Lloyds Bank and other major lenders. By comparing dozens of independent specialist lenders across the country, we’re able to provide access to exclusive deals you won’t find elsewhere.
What’s more, our services typically exclude credit checks and proof of income from the equation. Unlike Lloyds Bank, our lending partners are only interested in the value of your property. If you’re able to cover the value of the loan with the required collateral, the rest is unimportant. Even if you have a history of bankruptcy or CCJs, we can still help. Call the team at Donkey Finance today!
Unbeatable deals
For a closer look at the available options, head over to our exclusive online loan calculator and enter a few details. You’ll be presented with a series of sample offers, simplifying the process of pinpointing your perfect loan product. After which, it’s simply a matter of contacting the Donkey Finance team and letting us compare the market on your behalf.
We work hard to locate unbeatable deals and discounts you won’t find on the High Street. So before submitting your application for a Lloyds Bank-secured loan, contact the Donkey Finance team and see what we can offer as an alternative. Call today or drop us an email with the basic details of your requirements.
Homeowner loans from Lloyds Bank
Lloyds homeowner loans are only available to those who already have a mortgage. Sometimes this type of borrowing is referred to as a secured loan since the loan is secured, which could be repossessed should repayments not be made. This decreases the loan provider’s risk, which could result in preferential rates of interest. However, this presents a significant risk to the borrower, who could have their property repossessed if payments have defaulted.
The amount you can borrow depends on the lender, but homeowner loans are usually up to £250,000. Homeowner loan lenders feel more confident giving loans to people who are prepared to secure the credit.
Due to the large amount of credit associated with a homeowner loan, its repayment can be spread over three decades. The terms often mean that borrowers can take advantage of low interest rates. However, remember that more interest will be paid if longer terms are required.
You’ll have the opportunity to settle a homeowner loan early, but doing so could incur a charge for early settlement, which is added to the balance at the time that a settlement figure is requested.
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| Lloyds Bank Mortgages | Lloyds Bank Auction Finance |
How to apply
While many of the financial products and services provided by Lloyds Bank can be applied for online, others require in-person meetings or telephone consultations. In any case, we can help you pinpoint and apply for the perfect product for your needs. Give a member of our customer support team a call today, or send us an email with an outline of your loan requirements.
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