Compare Secured Loans

Get the best deal on second charge loans from our award winning loan experts. They can quickly compare the market and have access to a wide range of lenders, low rates and exclusive secured loan deals for all credit types including adverse credit and low income applicants. We promise you wont find a better deal elsewhere.

Homeowners - Our award winning experts can compare the cheapest loan deals from over 19 approved Lenders. All credit types accepted:

Questions? Call us on 0161 820 8099

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All credit types
Rated 5.0/ 5

Smart Money Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£3,000 - £1,000,000

Representative APRC
From 3.9%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

Award winning broker of the year Smart Money have made it to the top of our list as our No 1 recommended provider for homeowner loans. Smart Money are not available direct to the public and so we are very pleased to be able to offer them here via Lending Expert.

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All credit types
Rated 5/ 5

Paragon Bank

Loan Amount
£20,000 - £500,000

Representative APRC
3.9 - 8.8%

Loan Term
5 - 25 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

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.

Representative Example

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All credit types
Rated 5/ 5

Together Money

Loan Amount
£3,000 - £1,000,000

Representative APRC
6.65%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 77.5%

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.

Representative Example

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All credit types
Rated 5/ 5

West One

Loan Amount
£10,000 - £500,000

Representative APRC
5.49%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

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.

Learn More Available via broker only
All credit types
Rated 5/ 5

Shawbrook Bank

Loan Amount
£10,000 - £500,000

Representative APRC
5.9 - 13.6%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 90%

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.

Representative Example

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All credit types
Rated 5/ 5

Masthaven Bank

Loan Amount
£10,000 - £500,000

Representative APRC
5.9 - 9.8%

Loan Term
5 - 35 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 75%

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.

Representative Example

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All credit types
Rated 5/ 5

Prestige Finance

Loan Amount
£10,000 - £2,500,000

Representative APRC
5.9 - 11.1%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 90%

Prestige Finance has been providing loans for over 30 years to UK residents and is a specialist in providing second charge loans. Prestige Finance is a wholly owned subsidiary of OneSavings Bank Plc. Get a quote today for a personal illustration from our award winning broker.

Representative Example

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All credit types
Rated 5/ 5

Optimum Credit

Loan Amount
£5,000 - £500,000

Representative APRC
4%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

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.

Representative Example

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All credit types
Rated 5/ 5

United Trust Bank

Loan Amount
£10,000 - £125,000

Representative APRC
5.9 - 10.1%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

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.

Representative Example

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All credit types
Rated 5/ 5

Norton Finance

Loan Amount
£3,000 - £70,000

Representative APRC
9.1 - 12.3%

Loan Term
1 - 20 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 75%

Borrow from £3,000 to £500,000 over 1 to 25 years. We’ll find the most affordable rates to suit you and give you a no-obligation quote that won’t show up on your credit report. Get a quote today for a personal illustration from our award winning broker.

Representative Example

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All credit types
Rated 5/ 5

Central Trust

Loan Amount
£3,000 - £250,000

Representative APRC
11.4 - 12.6%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 75%

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.

Representative Example

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All credit types
Rated 5/ 5

Clearly Loans

Loan Amount
£5,000 - £100,000

Representative APRC
11.3 - 21.2%

Loan Term
1 - 20 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

We aim to make the process of taking out a secured loan as clear and transparent as possible. All our loans are secured on residential property by way of a second charge. Get a quote today for a personal illustration from our award winning broker.

Representative Example

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All credit types
Rated 5/ 5

Step One Finance

Loan Amount
£5,000 - £500,000

Representative APRC
9.5 - 22.9%

Loan Term
5 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

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.

Representative Example

Learn More Available via broker only
Poor Credit
Rated 4/ 5

Spring Finance

Loan Amount
£10,000 - £150,000

Representative APRC
Enquire%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 60%

We are a specialist provider of residential Second Charge mortgages lending to customers who are unable to obtain finance from traditional high street lenders. Get a quote today for a personal illustration from our award winning broker.

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All credit types
Rated 5/ 5

1st Stop Homeloans

Loan Amount
£5,000 - £50,000

Representative APRC
22.83%%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 70%

Here at 1st Stop Home Loans 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

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All credit types
Rated 5/ 5

Evolution Money

Loan Amount
£1,000 - £20,000

Representative APRC
31.71%

Loan Term
1 - 15 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

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.

Representative Example

>> FREE Secured Loan Quote From Our Experts At Smart Money

Our award winning experts at Smart Money 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

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 to consolidate some of your existing loans. 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. 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

Basically 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 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.

Poor credit loans

If you have a poor credit history 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 poor 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.

Calculator – how much will it cost?

This calculator will give you an idea of costs. The exact amount and APR payable will be provided from the lender subject to credit and affordability checks.

Your monthly payment will be:

£136.90

Interest on this loan will be:

£714

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£8,214

Comparing secured loans can be relatively easy by using online calculators, but 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 broker.

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.

Why use a 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 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 a broker involved in the process can actually increase your chances of being successful in your loan application.

A good broker can also help the process along, particularly if 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 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.

Learn More
All credit types
Rated 5.0/ 5

Smart Money Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£3,000 - £1,000,000

Representative APRC
From 3.9%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

Award winning broker of the year Smart Money have made it to the top of our list as our No 1 recommended provider for homeowner loans. Smart Money are not available direct to the public and so we are very pleased to be able to offer them here via Lending Expert.

 

FAQ's

How long does it take to get a loan?

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

Do I need to be a homeowner?

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.

Do I have to pay any upfront fees?

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.

Are these types of loans suitable for buy to let?

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

What purpose can the loans be used for?

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

How much can I borrow?

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.

Why not just remortgage?

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.

Are secured loans available to self employed?

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.

Can I get a homeowner loan without 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.

What purpose can a secured loan be used for?

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

What is the maximum secured loan to value (LTV)?

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.

How about if you have a bad credit history?

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 broker will be best to advise you on which lenders and products will be available and the interest rates chargable.

What is the maximum loan term on second charge loans?

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.

Are secured loans available on ex-council houses?

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

Is there any early replayment charges on these products?

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.

Are secured loans available to ex-pats?

Yes.

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