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Simon Nicholson

Expertly compared by Simon Nicholson

Products Updated December 7, 2020

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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:

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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.

What you need to know about secured loans on buy to let properties

Secured loans are available on buy to let investments

Secured loans are available on buy to let investments

If you have equity tied up in a buy to let property and you are looking to expand your portfolio then there are a couple of different options you can potentially use. There is the traditional secured second charge loan, but there is now also a new ‘top up’ mortgage loan that is available if your financial circumstances permit it. These types of loans are popular with professional landlords and self employed contactors who wish to raise equity from their portfolio.

Why take out a secured loan on your rental property?

The main reason you would want to take out a secured loan on a buy to let property would be to use it as a deposit for another buy to let property so that you can grow your portfolio. These secured loans are also known as ‘second charge’ loans as they are the second loan that you will have against that particular property, with your mortgage being your first charge loan. These loans allow you to take out a secured loan of up to 75% of the value of the property, using the property as security for the loan. This is probably the easiest way for you to generate a deposit for your next buy to let property, but make sure that you keep a close eye on your finances and ensure that you are able to meet the repayments on both of the loans as otherwise you will find yourself getting into difficulties. £30,000 loans and above are the most popular amount borrowed over 20 years.

Things you should think about before you take out a secured loan

If you have a high loan to value ratio on your buy to let property you will need to do some careful financial calculations before you start to consider taking out a loan to provide a deposit for a another property. To ensure that you know exactly what your options are in terms of loan amounts and the interest rates you will have to pay on your loan.

Which lenders are available?

Our brokers have access to the majority of the lenders who borrow against buy to let property in the market. They have direct relationships and some exclusive rates with the most of the well known second charge brands in the marketplace such as:

The ‘top up’ mortgage option

In addition to the traditional secured loan there is also now the option of taking out a top up mortgage loan. This allows you to borrow up to 20% of the value of your property as long as the combination of your mortgage and your loan does not exceed 85% of the total value of the property. This works in a different way to a standard secured loan in that you don’t actually pay any interest on the loan for the term of the loan, but at the end of the loan you repay the loan plus a relatively complicated calculation relating to the increase in value of the property that you then pay to the lender as a form of interest. This is a very popular option.

Questions? If you’re unsure which buy to let secured loan is right for you or you need some guidance on secured loans then speak to our BTL 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

No. We can still help secured a loan against you buy to let even if you have no proof of income.

No.

No, loans can be secured against property that is uninhabitable.

Your tenancy agreement (AST) can be used to evidence rental income on your buy-to-let with no further proof required.

The maximum is 75% loan to value on buy to let property. However, for none BTL this can rise to up to 95% from some lenders.

Yes many lenders will accept ex-pat landlords.

80 years of age depending on the lender.

Yes. If you have adverse credit then there are a selection of lenders who are willing to lend against your buy-to-let. Interest rates will be higher, however borrowing options do exist.

Yes. Buy to let secured loans are available within Limited Companies (LTD's).

£10,000 for buy-to-let application.

Loans can be secured on houses including ex-council, flats and maisonettes including High Rise, HMOs & Non Standard Construction.

Yes, some bad credit issues are accepted including CCJ's IVA's, missed payments, defaults, bankruptcy.

Yes - buy to let second charge loans are available for self employed applicants with or without proof of income. Some lenders also do not require a credit check.

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