Depending on the amount you borrow, you can choose to repay your loan over 1 to 5 years.
Alternatively, a homeowner (secured) loan can run for a term of 3 to 30 years.
A shorter term means that you can pay off your loan quicker, but you’ll have higher monthly repayments.
A longer term allows you to spread the cost further, meaning lower monthly repayments. However, as a result, you are likely to pay more in interest overall.