Compare Equifinance Loans from FCA-Authorised Lenders

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Authorised & Regulated by the Financial Conduct Authority (FCA). Free Price Compare is a credit broker, not a lender.

Who are Equifinance?

Equifinance Limited is a UK company that offers second charge homeowner loans. The team is a specialist second charge mortgage lender. The focus is on helping those who have trouble getting loans from normal banks. You might not get approval because you have bad credit, your income is not usual, or there is another reason that makes it hard. A specialist second charge mortgage lender like Equifinance Limited helps with these problems and gives other types of secured credit to people when they need it most.

The company is approved by the Financial Conduct Authority and gets checked by them often. It is open, and people say it is easy to work with. The company tries to give the best possible service to their customers.

What types of loans do Equifinance offer?

Equifinance has many options for second charge mortgage loans and other products that are like them.

  • Secured homeowner loans (second charge mortgages)

    • You can borrow from £10,000 up to £250,000.
    • Repayment terms can be from 5 years to 25 years.
    • The loan amount you get will depend on the value of your home, your property value, and your outstanding mortgage.
  • Debt consolidation loans

    • You can put all your unpaid debts, credit cards, and overdrafts into one monthly payment.
    • This type of loan is a good way to sort out debt consolidation and feel less stress over a specified period of time.
  • Loans for major purchases

    • People use the money for things like a new car purchase, home improvements, or a family holiday.
    • You also might use it to get your first investment property or help with other big plans.
  • Unsecured loans (limited availability)

    • These loans usually give you smaller sums for a shorter period of time.
    • They are more limited than homeowner loans or other second charge type of loan products.

Equifinance Loan Eligibility

To get an Equifinance homeowner loan, you will have to meet some simple rules. These are the rules that most people need to follow.

  • You need to be at least 21 years old. When the loan term is over, you should not be older than your 80th birthday.
  • You must own a home in the UK. This home can be where you live or a buy-to-let property.
  • A standard mortgage needs to be set up on the property.
  • You will have to give your contact information, your current job details, and proof of your employment situation.
  • You must show you can pay the monthly payments and handle any longer repayment terms.
  • There needs to be equity in the property. A professional or automated method of valuation of the property will be used to check how much it is worth.

Each application is checked based on its own merits. So, if you have bad credit, you can still get accepted. This is possible if you have enough equity.

Equifinance Loan Eligibility

Key Features of Equifinance Loans

  • You can get loans from £10,000 up to £250,000.
  • The repayment terms are from 5 years to 25 years.
  • The loans are open to many types of property.
  • You can pick between variable rates or fixed rates (Variable rates).
  • These loans work well for debt consolidation, home improvements, or big purchases.
  • All fees, like lender fees, broker fees, and early redemption charges, are made clear.
  • Once you get approved, the money comes by bank transfer.
  • The application is supported by Equifinance’s panel of lenders and brokers.

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How does Equifinance compare to other secured loan providers in terms of interest rates?

Equifinance is a specialist second charge mortgage lender. The rates here can be higher than what you might get from the main lenders. But Equifinance often has more flexible rules for giving loans. This is good for people who need a second charge and might not fit the usual rules set by other lenders.

  • You can choose if you want the rate to change or stay the same.
  • The amount you get depends on your property value, how much you still have left on your current mortgage, and your employment situation.
  • If you have bad credit or your personal story is more difficult, Equifinance may be easier to work with than most lenders for your mortgage.
  • This way of borrowing, called a second charge, is becoming more popular. It works well for people who want a new loan but do not want to change their main mortgage.

What do customer reviews say about Equifinance secured loans?

Reviews show that Equifinance has a warm feel and is always ready to help. Many people feel that the company listens to them, even when other lenders do not. A lot of customers like this way of working.

What do customer reviews say about Equifinance secured loans
  • A good way to handle unpaid debts is to use debt consolidation.
  • You get simple details about loan terms and you find out if there are any early redemption charges. For more info, go to loan terms.
  • The steps to get a valuation of the property and to check equity are easy to understand and do.
  • People with low credit scores or those in other situations can still get credit.

Some people say the APR may be more than what you see at most big lenders. But many feel that this is a fair deal. This is because it helps them get credit when they need it the most.

Pros and Cons of Equifinance Loans

Pros Cons
Loans up to £250,000 Rates higher than some mainstream lenders
Considers bad credit applicants Property at risk if repayments missed
Clear process, no hidden fees Early redemption charges may apply
Available across various property types Maximum amounts smaller vs Norton Finance
Can be used for major purchases Valuation and admin fees may apply

What documents do I need for an Equifinance loan application?

When applying, Equifinance may ask for:

  • You can use your passport or driving licence as proof of ID.
  • A utility bill, council tax, or bank statement will show proof of your current address.
  • For proof of income, you need to give recent payslips, a P60, or an SA302 if you work for yourself.
  • Say what your employment situation is and give details about your current job.
  • A mortgage statement is needed to show your outstanding mortgage amount.
  • You have to use a professional or automated method of valuation for your property.

If you send your contact information and your papers early, it can help your application move along faster.

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How to Compare Equifinance Loans

When you look at Equifinance next to other lenders, you should keep these things in mind:

  • Look at the homeowner loan rates (APR) that are offered. See if you want a fixed or variable rate for your loan.
  • Think about the suitability of the security. This is about your home. Ask yourself if this is a good choice for your level of risk and what you feel comfortable with.
  • See how longer repayment terms change the total amount you have to pay back. A longer time to pay may mean you will pay more in total.
  • Decide if you want a new loan with your usual mortgage or if you do not want to remortgage right now.
  • Check how its flexible rules add up against the strict ones with other lenders. This will help you see which option is better for you.

Why use Free Price Compare to compare Equifinance loans?

By using Free Price Compare, you can:

  • Compare Equifinance to a wide panel of lenders.
  • Get access to specialist second charge mortgage lenders all in one place.
  • You can check if you are eligible without hurting your credit score.
  • There are no surprises because all broker fees, lender fees, and possible early redemption charges are shown to you from the start.
  • You will get advice that is just for you, so you receive the best possible service.

What should I do if I have a complaint about my Equifinance loan?

If you feel worried or feel like you need to make a complaint, you should reach out to Equifinance Limited at once. Make sure to give your contact information and also to tell them the details of your case. The company wants to give you the best possible service. They will look at your issue in a specified period of time.

If you are not happy with the reply you get, you can take your problem to the Financial Ombudsman Service. This is a service that helps people handle problems with FCA-authorised firms in a way that is fair and free. You can bring up issues like early redemption charges, waiting too long for answers, or feeling unsure about the suitability of the security used for your loan.

What should I do if I have a complaint about my Equifinance loan

FAQs About Equifinance Loans

Yes. Equifinance is approved and watched over by the Financial Conduct Authority. You can look up its company registration number on the FCA’s website.

Loans can begin at £10,000 and go up to £250,000. The loan amount will depend on the value of your home, property value, and how much outstanding mortgage you have. The amount you get can change if the highest LTV that is allowed goes up or down.

They can be very good for debt consolidation, home improvements, or when you need to buy something big, like a new car purchase or want to take your family on a holiday. If you are a landlord or a property investor, you can use them for your first investment, or if you already have some properties, you can use them to have more or do even better as a landlord.

It usually takes about 2 to 4 weeks. A lot of this time depends on the valuation of your property, the papers you give, and the checks the lender does. If you give all this information early, and if there are no problems, the process can sometimes finish faster.

The main risk here is that your home is used as security for the loan. If you do not pay on time, you could lose your home. Early redemption charges can happen if you pay back the loan before it is due. You might also get a higher APR when you compare it with some other big lenders.

Important Notice: Your home can be taken if you do not pay back the money you owe for a mortgage or any other loans linked to your house. Before you use your home to help pay back other loans, think about it very carefully and make sure you know all the risks involved.

Free Price Compare is a company that the Financial Conduct Authority approves and checks. We help people to look for and compare loans. The company does not give out money, but it helps you find loan options.

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Page last updated on: 01/09/2025

Page reviewed by: Andrea Troy

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