100% Recommend

Compare Loans & Calculate Repayments

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it.

11 providers expertly compared:

Learn More Available via broker only

Paragon Bank

Loan Amount
£20,000 - £500,000

Initial Rate
3.6%

Loan Term
5 - 25 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

3.6%

Total repaid will be:

£50,805

Second charge mortgages for homeowners in England, Wales and Mainland Scotland. We work hard to make sure we have a wide range of loans to meet our customers' needs. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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Masthaven Bank

Loan Amount
£10,000 - £500,000

Initial Rate
4.19%

Loan Term
5 - 35 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 75%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

4.19%

Total repaid will be:

£50,805

We were the first new bank to be awarded a banking licence in 2016. However, we’ve been providing a flexible and personalised approach to secured lending since 2004. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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United Trust Bank

Loan Amount
£10,000 - £125,000

Initial Rate
4.45%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

4.45%

Total repaid will be:

£50,805

United Trust Bank’s highly skilled and experienced specialised mortgage team offers innovative lending products through a panel of approved introducers. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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Shawbrook Bank

Loan Amount
£10,000 - £500,000

Initial Rate
4.2%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 90%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

4.2%

Total repaid will be:

£50,805

If you’re paying out for a number of different loans or credit cards, a debt consolidation loan from Shawbrook Bank could save you money every month in interest. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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Step One Finance

Loan Amount
£5,000 - £500,000

Initial Rate
6.9%

Loan Term
5 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

6.9%

Total repaid will be:

£50,805

Our homeowner loan products are available to qualifying homeowners and owners of Buy-to-Let properties in England, Scotland and Wales with loan amounts available up to £150,000. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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Together Money

Loan Amount
£3,000 - £1,000,000

Initial Rate
6.65%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 77.5%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

6.65%

Total repaid will be:

£50,805

If you need to raise funds, for example, to make home improvements or get on top of your debts, and you have existing equity in your home, a secured loan could be the right option. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

Learn More Available via broker only

Central Trust

Loan Amount
£3,000 - £250,000

Initial Rate
8.5%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 75%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

8.5%

Total repaid will be:

£50,805

We’re an independently owned specialist secured loan lender in the UK and are part of the Norfolk Capital Group of companies that have been providing secured loans since 1988. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

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Optimum Credit

Loan Amount
£5,000 - £500,000

Initial Rate
4%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

4%

Total repaid will be:

£50,805

We offer a straightforward, customer friendly approach, both during your application process and after completion of your second charge mortgage. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

Learn More Available via broker only

Oplo

Loan Amount
£5,000 - £50,000

Initial Rate
8.0%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 70%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

8.0%

Total repaid will be:

£50,805

Here at Oplo we offer secured loans from £1,500 to £50,000 (subject to your personal circumstances) to new and existing customers. Get a quote today for a personal illustration from our award winning broker.

Representative Example

11 providers expertly compared:

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Evolution Money

Loan Amount
£1,000 - £20,000

Initial Rate
10.20%

Loan Term
1 - 15 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

10.20%

Total repaid will be:

£50,805

We won’t rely on automated credit scores. At Evolution Money, people take the decisions and they look at you, not your credit history or the amount of equity in your home. Get a quote today for a personal illustration from our award winning broker.

11 providers expertly compared:

Learn More Available via broker only

West One Secured Loans

Loan Amount
£10,000 - £500,000

Initial Rate
3.99%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

Rated 5.0/ 5

All credit types

Your monthly payment will be:

£169.35

Interest on this loan will be:

£18,805

Initial Rate:

3.99%

Total repaid will be:

£50,805

West One offers an extensive range of second charge mortgage solutions that can be secured on buy-to-let properties, including unregulated buy-to-lets as well as regulated consumer buy-to-lets. Get a quote today for a personal illustration from our award winning broker.

Check My Eligibility
Application Criteria?

Application criteria for this product is:

  • Homeowners Only:

Read our customer and visitor reviews for this product:

Rating: 4.6 / 5 with 31 votes

Good for secured loans

by Abdul R

Good service for secured loans with a full brokerage service. Good panel of lenders to suit most customers.

Found the right mortgage I was looking for

by Mrs Dale

Had a very positive experience using the mortgage pages. Thankyou.

Our award winning experts can search and compare 19 lenders from the market to find you the cheapest and best deal to match your financing needs. Quotes and personal illustrations are free from their Cemap qualified advisors.

How to compare secured loans in the UK

There are a wide range of reasons why you might consider taking out a secured loan, some of which are property improvements, paying for a wedding, a new car, or perhaps you are looking for a secured debt consolidation loan some of your existing debts. If you need to be a homeowner to take out this type of loan as the loan is secured against your property in the same way a mortgage is. These types are loans are also popular with landlords and property investors who wish to raise extra money against their buy to let properties. Most second charge lenders in the market offer buy to let secured loans alongside there residential home loans. Our experts compare the market place to find not on the cheapest rates, but to find the right lender for your circumstances.

Is credit history important?

Your credit score is important to get the best secured loan deals

Your credit score is important to get the best secured loan deals

According to our secured loan broker credit history is very important when it comes to getting the best deal. If you are borrowing on a secured loan in order to provide you with the funds to do something important and you have a good credit score you can get loans that attract interest rates around 4-5%. This is approximately in line with many standard variable rates offered by second charge lenders. This interest rate indicates that you are seen as a relatively low risk borrower and so you are given the benefit of a low interest rate. Despite the lower interest rate you will have to ensure that the repayments are affordable on top of your mortgage payments.

Secured loans for bad credit comparison

If you require a secured loan for bad credit you will find that you have fewer options and that you are also going to have to pay your loan back with a higher interest rate. The most competitive rates available for people with bad credit ratings come in at around 9%, but you may have to be prepared to pay up to 19% on your secured loan if you have particularly poor financial circumstances such as a history CCJ’s, defaults and missed credit payments. If you are unsure then a broker can quickly assess your application and provide a non obligation quote at no charge.

Secured Loan Calculator – how much will it cost?

Comparing secured loans can be relatively easy by using an online secured loan calculator like the one here, where you are able to calculate monthly loan repayments, interest charges and fees. It is important to consider that without investigating the details of each one you may not be fully aware of all of the requirements and criteria that go along with each one. Therefore although you can get an idea of available loans by searching, you will get a much more in depth understanding of your options if you choose to consult a secured loan broker who can provide you with an accurate quotation.

Which direct lenders and UK companies can you compare against?

We have access to the majority of the lenders in the UK market and direct relationships and some exclusive rates with the most well known second charge brands in the marketplace. We can compare loan rates from the the following lenders:

What can I use a secured loan for?

You can, in theory, use a secured homeowner loan for anything, but you should be aware that you will have to explain your loan reason to your lender. Common uses for a homeowner loan is to carry out improvements to your home, or alternatively to consolidate a number of debts into a single debt that you can then afford to repay over a longer repayment period. £30,000 loans and above are the most popular amount borrowed over 20 years.

How does a secured debt consolidation loan work?

If you have a number of smaller loans, credit cards or an overdraft you wish to pay off then you can do this with a larger secured loan. The lender will consider your loan application for debt consolidation purposes. In many cases the lender will need to know which loans you wish to pay off and the loan amounts, then on completion of the loan they will forward cheques made out in the name of the creditors which you must then use to pay of and clear these debts. The loan will only be approved on the basis the funds will be strictly used for debt consolidation only.

Why use a secured loan broker?

A broker has specialist knowledge of the market place

A broker has specialist knowledge of the market place

Using a broker to find a loan might seem like a slightly strange idea but basically any loan you take out using your home as collateral is effectively a type of mortgage. Therefore when you are considering taking out a secured loan on your home a secured loan broker is well placed to advise you, not only on available products, but also about any potential issues that may come up through your mortgage or second charge lender. They will be able to assist you with any applications and by having an experienced broker involved in the process can actually increase your chances of being successful in your loan application especially if you are self employed or your application is more complex.

A good broker can also help the process along, particularly if you require a debt consolidation loan or your circumstances are not standard and the application process takes longer than you thought.

What are the risks?

When you are comparing secured loans you will need to remember that any loan you take out will be secured against your home. This means that should you fail to keep up with your loan repayments, as well as your mortgage repayments, your home will be at risk of repossession. Therefore you need to take the time to make sure that you know what your repayments will be for each of the products you are considering for the interest rate that is given. This is something else that your broker will be able to do for you.

You will also have to consider the effects of the length of your loan term. A shorter term means you will pay off your loan sooner and you will pay less interest overall, but your payments will also be higher and so therefore more risky. Therefore to properly compare secured loans you have to balance the loan term with your financial situation.

Questions? If you’re unsure which loan is right for you or you need some guidance on secured loans then speak to our experts on 0161 820 8099.
Their friendly advisors will be happy to discuss which options are available and to answer any questions you may have.

FAQ

Loans can be completed within a matter of a few weeks assuming all the application and supporting documents are provided quickly.

Yes, as these types of loans are secured against your home in the same way a mortgage is. They are often referred to as a second charge loan.

No, there are no up front fees to pay. However, there is a broker fee and lender fees to pay upon completion of the loan. In most cases there is also a home survey/valuation fee to pay in addition to the broker and lender fee. These fees and the amount to pay will be explained to your prior to taking out an application.

Yes, secured loans can be taken out on buy to let property.

Loans can be arranged for any legal purpose. Secured loans are mostly used for home improvements and debt consolidation.

The amount you can borrow will depend on factors such as home equity and affordability. A quick assessment from a secured loan broker will be able to establish how much you are able to borrow and how much the loan will cost.

A secured loan has many benefits over a remortgage and in many cases will be the best solution such as: If your credit rating has worsened since taking out your first mortgage, remortgaging could mean you end up paying more interest on your entire mortgage, rather than just on the extra amount you wish to borrow. If your existing mortgage has a high early repayment charge (ERC), it may be cheaper for you to take out a second charge mortgage rather than to remortgage.

Yes. If you are self employed either as a sole trader or company director you can apply for a second charge loan. You must have a minimum of 6 months of trading and be able to provide proof of income.

No. You will be required to show proof of suitable income to demonstrate you can afford the loan repayments. SA302 and accountants projection accepted as proof of income for self employed applicants.

Any legal purpose such as debt consolidation, home improvements, tax bills, business use or to purcase a new car for example.

Loans can be arranged up to 100%, and 95% LTV loan to value with a small handful of lenders. The lower the LTV the more attractive the interest rates and fees are.

Our lenders do accept CCJs and Defaults (even in the last 12 months) If you have a bad credit history then there are a selection of second charge lenders who offer loans within this category. Your secured loan broker will be best to advise you on which lenders and products will be available and the interest rates chargable.

Second charge loans are like mortgages and loan terms can arranged up to 35 years for some lenders while others will have a maximum loan period of 25 years for example.

Yes, our lenders will consider secured loans for:

  • ex-council houses, flats and maisonettes
  • high-rise properties (yes, even ones above 6 floors)
  • properties with poor valuations (when the property is in a less than perfect condition)
  • non-standard constructions (When the property you want is a little out of the ordinary)
  • normal brick-built houses, flats and maisonettes
  • properties where more than 40% will be owner occupied

Yes and no, not all products on offer here will come with ERC's. The broker will be best to advise on the individual lender products and which ones carry early repayment charges.

Yes.

Yes. Debt consolidation is a popular option with many customers who take out these types of loans. If you would like to learn more then request a quote from our approved brokers here on the website.

Related Links

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