Home Loans

Find all there is to know about Tandem Home Loans. Search our most common questions below, or get in touch with our dedicated team.

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Home Loans
Am I eligible to apply for a Home Loan?

If you’re a UK resident aged 21 or over, and you own your own home, you are eligible to apply for a Tandem Home Loan. T&Cs and other eligibility criteria apply.

Will applying for a Home Loan affect my credit score?

When you apply for a Tandem Home Loan, we conduct a soft credit search, which will not affect your credit score. However, if you are approved in principle for a loan and you accept your quotation, we will then conduct a hard credit search which will leave a record on your credit file that other lenders and organisations can see.

How do you decide what rate to charge me?

The rate you receive is based on your personal situation and is dependent on many factors such as your credit history, credit rating and financial status.

Is my home at risk if I can’t repay the loan?

If you have taken out a secured Home Loan, your home is always at risk, as with any loan or mortgage secured against your property. Your home may be repossessed if you do not keep up your repayments.

Can I use a Home Loan as an alternative to a re-mortgage?

A secured loan can be an alternative to a re-mortgage if, for example, you have a low interest mortgage which you don’t wish to move away from but need additional funds. But always consider all options out there, before securing debts against your home.

Can I consolidate existing debt with a Tandem Home Loan?

Consolidating existing debts means you will have a single monthly repayment and will know exactly when this is. You may also find that you can reduce your monthly outgoings if you are consolidating debts that have a higher interest rate than the loan you take. However, by consolidating your debt, you may increase the amount you pay back overall therefore extending the repayment period of your debts.

If my loan application is denied, can I try again?

After a break of 6 months, if your circumstances have changed and you would like to apply again for a Tandem Home Loan there are no restrictions on you doing this. You can check your credit file at Equifax, Experian and TransUnion. You could contact Money Helper website for free, impartial advice.

How does Tandem ensure my details are safe?

We follow the very latest in secure data handling practices, and we work hard to make sure that your details are safe at all times. Additional information about how we use and store your data can be found in our Privacy Policy.

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