Simon Nicholson

Expertly compared by Simon Nicholson

Products Updated January 8, 2020

Secured Loan For Bad Credit

If you have an adverse credit history or a low credit score then our award winning experts can help find you a great deal. They will compare the bad credit secured loans market place to find you the best lender to match your circumstances. Solutions for poor credit customers with missed payments, CCJ’s and defaults.

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

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.

Questions? Call us on 0161 820 8099

1 providers expertly compared:

Learn More Available via broker only

Lending Expert

Loan Amount
£10,000 - £500,000

Representative APRC

Loan Term
3 - 33 years

Loan Type
Secured & Homeowner Loans

Homeowners & Tenants
Max LTV 100

Rated 4.8/ 5

All credit types

Our expert team can compare over 19 secured loan lenders from across the market to find you the perfect loan. Our team are on hand 7 days a week to handle your loan enquiry from initial quoteation right through to when you receive your loan. Homeowner loans for any purpose including popular options such as debt consolidation, home improvements and buy to let properties. Solutions for bad credit applicants and the self employed. Request a quote to see how much you can borrow today.

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 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.

What are the secured loan options for people with bad credit?

What are the bad credit options?

What are the bad credit options?

If you are in the position where you have a bad credit history but you need a loan then there are all sorts of options that are out there on the market. You have probably seen adverts for payday loans and guarantor loans, but these types of loans attract huge interest rates that mean paying off these loans can be difficult. Although these loans are easier to get, they are unlikely to be the best option for you to take.

Which bad credit lenders can you compare against?

Previous CCJ’s, Bankruptcy, Debt Management, IVA’s? We have access to the majority of the secured bad credit lenders in the market. We have direct relationships with some of the most well known secured loan brands in the marketplace such as:

Differences between secured and unsecured loans

The main difference between secured and unsecured loans is that the loan you take out as an unsecured loan is not secured against anything. This means that these are a higher risk than for secured loans and therefore they attract much higher interest rates. For a secured loan you take out the loan against something that you already own, which may be your car or your home. A car can be used for small secured loans, but if you are attempting to consolidate a large amount of debt this is not going to be a viable option for you, therefore using your home may be the option for you.

The pros and cons of using your home to take out a secured loan with a bad credit history

The biggest pro of taking out a loan in this way is that you will actually pay less interest than any other loan method, particularly on large amounts. You also get the advantage of being able to pay back your loan over a longer term. The down side to this is that you are probably going to pay back more in the long run, but the plus side is that your monthly repayment are likely to be more manageable and so you will be able to make your payments successfully each month rather than struggling to try and make multiple individual loan payments each month.

Do some calculations before you dive into a secured loan

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:


Interest on this loan will be:


Annual Percentage Rate (APR):


Total repaid will be:


While taking out a secured loan might be the only way you are going to be able to consolidate your debts into something manageable you should still do some preparatory calculations on how much you will be repaying each month as you will need to make sure that it is affordable for you. The reason you should approach this type of loan with caution is because you are securing it against your home and should you default on your payments your home could be at risk. You will also need to look at what will happen to your payments if interest rates go up to see if they will still be affordable.

Get advice

Getting good advice is essential

Getting good advice is essential

Consolidating your debts, especially with a poor credit rating, is not an easy thing to do and there are plenty of people around who can help you to find the best option for you. If you need a short term loan then a secured loan against your home is not going to give you the best deal, but if you need to borrow a large amount and need to repay it over a longer term in order to may your repayments affordable then this type of loan will offer you what you need, even if you do end up repaying more in the long term.

Make the most of any free debt advisory services you can, but did you know that you can also get advice from specialist bad credit brokers who can find all of the options that you have available to you? Doing an internet search for bad credit secured loans will get you some basic information, but as brokers work with these products all the time they will be able to find everything on the market that may be suitable for you, and it is highly likely that they will find options for you that you wouldn’t find yourself.

This is because not all bad credit secured loans are advertised on popular search sites and so it requires a specialist to make sure they have all been found. Not only that, a secured credit broker will help you to complete your application and can also help to improve your chances of being accepted for the loan as they can sometimes help to influence a lender in their decision and can also chase up the application and give you updates if it seems to be progressing slowly.

Questions? If you’re unsure which loan is right for you or you need some guidance on homeowner 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.


The lender will take this into considertion as part of your overall credit history. However, missed payments in the past does not neccessarly mean you will be denied a loan. Each lenders requirements will vary, and your broker can help choose the right lender who is likely to accept your application.

Yes. However, this will depend on the lender and how they access your current creditworthiness. Your broker will be able to place you application with a suitable lender.

No. All lenders will require a credit check.

Yes. Self employed applicants are fine as long as you can demonstate and show proof of your income. If you are a sole trader business, contractor or company director then you may be required to show your HMRC figures from the SA 302 forms.

Yes. Applicants are accepted over the age of 65. Due to you being an older borrower there will be restrictions on the length of the loan term.

Secured loans are offered up to 95% loan to value. However, the lender will also assess affordability of the loan and will take into consideration your earnings and the value of your home. A broker will be able to make an assessment and let you know how much you can borrow.

There will be fees associated with the following:

- A one off broker fee
- A one off lender fee
- A home valuation fee

The broker and lender will let you know in advance of how much the fees are being you proceed with a loan application. Fees can also be added to the loan.

Secured loans are like mortgages in that repayments can be paid over a long period e.g up to 35 years.

Yes. Loans are available against buy to let properties up to 75% loan to value. There is no proof of income requirement and the minimum loan amount is £10,000.

Yes. There are a number of second charge lenders who are willing to lend to discharged bankrupts. Your broker will be best to advise you on what options you have and the lenders that are available.

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