Compare Prestige Finance Loans from FCA-Authorised Lenders

Secured Homeowner Loans

Prestige Finance is known for its main product. This is the secured homeowner loan. Many people use Prestige for these loans. The company has worked with this product for a long time. If you are thinking about a secured loan, Prestige could be a good option.

Key details:

• You can borrow from £10,000 to £500,000.
• The terms can be from 5 to 30 years.
• You can choose either capital and interest or interest-only repayments, depending on the criteria.
• Repayments can have a fixed interest rate or a variable rate that is linked to the Prestige standard variable rate.
• This is open to homeowners who live in England, Wales, and Scotland.

Common uses:

• You can use this for home improvements and to upgrade your property. This includes kitchens, lofts, or extensions.
• You can pay for education costs, like school or university fees.
• You may want to use it when you fund major purchases such as a car, a motorhome, or your dream holiday.
• The money can help support family members with deposits for their first home.

Debt Consolidation Loans

Prestige Finance is a popular pick for people who want to get all their unsecured debts in one place. A lot of people like prestige because it can help them with this.

• You can bring together many credit cards, overdrafts, and personal loans and turn them into just one repayment.
• Make it easier to manage your money by paying back what you owe over more years. This helps free up cash and makes repayments feel lighter.
• This helps families have a steady plan when they feel stressed trying to keep up with repayments from different lenders.
• You can still get help from lenders even if your credit is not good or if you had poor credit before. You only need to have enough equity.

Illustration:
If you have £45,000 in credit card and personal loan debt, you may be paying interest rates from 18% to 22%. That can mean you pay over £1,200 every month to several providers. If you get a £45,000 second charge loan with Prestige, you could lower the interest rate to 10% APRC over 20 years. Your monthly payment may go down to about £430 to £460.

• Upside: You get better cash flow right away. It helps lower stress. There is just one clear monthly payment to worry about.
• Downside: You might have to pay more interest over the whole loan period because the term is longer.

Home Improvement Loans

You can use a secured loan with Prestige to put money into your house or property.

• This is good for upgrades like kitchen makeovers, bathroom changes, loft changes, or full refurbishment projects.
• Bigger jobs like extensions or structural changes can also get funding.
• The money comes as a single lump sum into your bank account. This gives homeowners the freedom to manage contractors and people who supply things for the work.
• When you do home improvements, you can raise the value of your property. This may help you build equity in the future.

A homeowner has a place worth £400,000. The person still owes £220,000 on the first mortgage. To pay for a two-storey extension, the homeowner gets a £60,000 Prestige loan. When the work is done, the home is valued again and is now worth £480,000. This new value gives the homeowner more joy in the home and adds to their equity.

Business Loans Secured Against Property

Prestige Finance helps small business owners get the support they need. They give out loans that you can secure using your home. With prestige finance, you get a way to use the value in your house for your business. This is good for people who need extra money to grow or run their small business with prestige finance.

• You can use the funds as a working capital loan. They help you manage cash flow or pay for things like new equipment or stock when you need it.
• A second charge mortgage is used to secure the loan against property.
• This is good for sole traders, people in partnerships, or limited company directors who own their home.

A self-employed joiner gets £25,000 by using their home as security. They use this money to buy new tools and a van. This helps them go for bigger jobs and work on larger contracts.

Personal Loans via Broker Panel

Prestige mainly offers loans that are backed by something, like your home or car. But if you use their broker partners, you can also get smaller personal loan products that are not secured.

• You can borrow an amount from £1,000 to £25,000.
• The time to pay back can be 1 to 7 years.
• This loan can help you with unexpected expenses. You can use it for things like medical bills, weddings, or quick repairs.
• The rates are higher than loans that need collateral, because this one does not need any.

Prestige Finance lets people make overpayments. This means you can pay more than your set monthly payment when you have room in your budget. The company gives you this choice with their loan agreements. If you want to pay extra sometime, you can do that. Overpayments help you manage your loan in a way that works for you. It's a good way for people to stay ahead with prestige loans if they want to.

• When you make overpayments, it can lower the total amount of interest you will pay by the end of the loan term.
• Some products let you pay off part of the loan early with no extra fees, but others may have early repayment charges.
• If you think about making overpayments, you should always read your own loan agreement or talk with your broker. This way, you can know the terms about overpayments.

This flexibility can help people pay off debt faster if their money situation gets better. They do not have to change the whole loan to do this.