Secured loans made simple

Learn everything you need to know about secured loans, compare quotes and find the best possible deal for you, all from one place.

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Bigger loans. Better rates.

Secured loans are pretty simple to understand. You use something you own — like your house, for example — as collateral to borrow money. By using collateral, lenders see you as a safer bet and are usually happier to lend you more money at better rates.

The most common thing that people use as collateral is their house, which is why they’re often called homeowner loans.

Girl on a sofa

Want to get an idea of how much you could borrow with a secured loan?

Our secured loan calculator lets you get a quick idea of how much you could borrow and what the repayments might look like in a few seconds.

I want to borrow...

£99

Over how long?

years

Paragon Bank PLC

Initial Rate

3.37%

Total Repayments

£

Monthly Repayments

£

Optimum Credit Ltd

Initial Rate

3.5%

Total Repayments

£

Monthly Repayments

£

West One

Initial Rate

3.99%

Total Repayments

£

Monthly Repayments

£

Masthaven Bank Ltd

Initial Rate

4.19%

Total Repayments

£

Monthly Repayments

£

Shawbrook Bank Ltd

Initial Rate

4.20%

Total Repayments

£

Monthly Repayments

£

Is a secured loan right for you?

Secured loans are a great option if you want to borrow a big chunk of money or get access to better rates. However, it does mean that you’re using your house as collateral, so it helps to be sure that it’s the right choice for you.

A secured loan might be a good fit if…

You want to borrow between £10,000 and £10 million.

Your credit rating means you’ll struggle to find an affordable personal loan.

You want to take longer to pay off your loan.

What are the different types of secured loan?

Whether you don’t fancy going through the remortgage process, need extra money to buy a second property or want to free up some cash to consolidate your debt, we can help.

Home improvement and debt consolidation loans

Second Charge Mortgages

Use the equity you’ve built up in your home to borrow the money you need.

Car finance and wedding loans - personal loan quick money

Homeowner Loans

Use your house to help you borrow up to £10 million.

Bridging Loan Owned Property

Bridging Loans

Bridge the gap between buying a new house and selling your old house with a bridging loan.

Bridging Loan Commercial or Development

Development Loans

Want to build a new house or develop land? That’s exactly what a development loan is for.

Everything you need to know before applying for a secured loan

House with padlock

What will you use as collateral?

A secured loan is a type of loan that is “secured” against something you own that’s worth a lot of money.

Most of the time, this is a property you own, but it doesn’t have to be the house you live in.

(You can even use a second property as collateral, in some cases.)

How much can you borrow?

People use secured loans for all sorts of purposes, from consolidating debt to renovating their house. And because they’re usually used for bigger things, you can typically borrow more with a secured loan than a personal loan.

As a rule of thumb, the most you’ll be able to borrow is usually the amount of your collateral you own outright. (For example, if you own 20% of your home, the most you’ll be able to borrow is 20% of the current value of your property.)

Will you be approved?

If you’ve got bad credit, you might find it difficult to qualify for a personal loan with affordable rates because the lender sees you as a risk.

However, because you use collateral to get a secured loan, you’re likely to find that lenders will offer you better rates or let you borrow more money because they’ll be more confident they’ll be paid back.

How do you pay my secured loan back?

Unlike personal loans, secured loans let you borrow the money you need for much longer, if you need to.

In fact, lots of the loans our partners provide allow for repayment terms of up to 35 years, which helps you spread the cost out and break it into more manageable monthly repayments.

Virgin Money
Barclays loans
Santander Loan
Shawbrook Bank secured loan
Paragon secured loans
Together finance
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Learn more about secured loans

Secured Loans: Everything You Need to Know

Secured loan application checklist

Difference between secured loan and unsecured loan

Representative Example for second charge mortgages UK: based on borrowing £18,000 over 120 months. Interest Rate: 5.5% fixed for 60 months with instalments of £213.33. Followed by 60 months at the lenders standard variable rate of 5.7% with instalments of £214.36. Fees: Broker fee (£1,062); Lender fee (£595). Total amount payable £25,756.4 comprised of; loan amount (£18,000); interest (£6,004.4) including broker fee and lender fee. Overall cost of comparison 7.902% APRC. This means 51% or more of our clients receives this rate or better for this type of product. We have arranged borrowing with rates from 3.4% to 29% APRC which has allowed us to help customers with a range of credit profiles. We are a broker not a lender.

Secured loans have a minimum term of 36 months to a maximum term of 360 months. Maximum APRC charged 29%. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.