Debt Consolidation Loan FAQs
Please click below for the answers to our most commonly asked questions. If you can't find the information you need, call us free on 0800 694 5566 and one of our advisers will be happy to help.
How much can I borrow?
Norton’s homeowner loans vary in value from £3,000 to £500,000.
How long will it take?
As soon as you apply for the loan, you’ll receive a decision in principle. The loan will be properly finalised within two weeks of applying.
How long are the repayment terms?
Repayment terms are flexible. They can be a short as a year, or as long as 30 years. The most important thing is that you’re comfortable with the time period.
What are the interest rates?
While homeowner loan interest rates can be as low as 2.9%, the rate you secure will depend on your history of personal finances and your current circumstances.
Are there any loan fees?
We’re a broker, not a bank, so we search the full range of lenders’ products to see how all of their homeowner loans compare. Once a loan is secured, we take a commission payment from the lender and we may also charge a broker fee. This is charged at 12.5% of the loan itself, to a capped figure of £3,995. If a loan is unsecured, we won’t charge a broker fee.
Can I move house with a homeowner loan?
Anyone who sells their home will have to pay off the homeowner loan they’re currently servicing, or transfer the amount to a new mortgage.