100% Recommend

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:

Learn More Available via broker only

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:

Learn More Available via broker only

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:

Learn More Available via broker only

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:

Learn More Available via broker only

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:

Learn More Available via broker only

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:

Learn More Available via broker only

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.

Loans displayed have a minimum term of 12 months and a maximum term of 360 months. Maximum APRC charged 49.9%.

 

Overall Representative Example for Secured Loans

 

Based on borrowing £18,000 over 120 months. Interest Rate: 6.5% fixed for 60 months with instalments of £227.38. Followed by 60 months at the lenders standard variable rate of 4.95% with instalments of £221.71. Fees Broker fee (£1,530); Lender fee (£495). Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee and Lender fee. Overall cost of comparison 9.1% APRC.

 

Is a Secured Loan Right for Me?

A secured loan can be an effective way to borrow large sums of money, whilst secured against your home, flat or property that you own.

You will be using your home as a form of security and by leveraging its value, this will help you borrow large amounts and for longer – for purposes such as home improvements, a wedding or to consolidate your debts.

Depending on the value of your home, you could borrow over £1 million and repay over 1 to 30 years. However in the event that you cannot keep up with repayments, the bank or lender can repossess your home to recover the money they have lent to you.

 

Why Compare Secured Loans with Lending Expert?

Lending Expert is a specialist secured loans broker, working with the whole of the market to help you compare the best rates, loan amounts and repayment options from all the secured lenders in the UK, Scotland and Wales (including London, Manchester, Birmingham, Liverpool, Newcastle, Glasgow, Reading and more).

With rates starting from 3.34% APRC, the interest rates and loan terms can vary between lenders and when you are taking out a large loan and secured against your home, you want to make sure that you are getting the best deal possible.

As a price comparison site and broker, we do not take any fees for applying and checking your eligibility with our lenders will not impact your credit score. We are proud to offer a clear, transparent and effective way for borrowers to compare secured loans.

 

How Do You Get the Best Secured Loans Rates?

  • Loan-to-value ratio – the more equity you have in your property, the more you should be able to borrow.
  • Your financial position – with a stable income, employment and good credit history, this should allow you to access cheap secured loan rates and maximise the amount you can borrow.
  • Value of your property – if you have a valuable property, this could help you access a large sum and competitive rates
  • Debt-to-income ratio – if you are not overloaded with other financial obligations in terms of credit cards and loans, this will help you get lower rates
  • Beware the advertised APRC – this is only available to 51% of successful customers and your rates may vary depending on factors mentioned above

 

Product Features 

  • Borrow £1,000 to £1 million (or higher)
  • Rates from 3.34% APRC
  • Loan terms: 1 to 35 years
  • 50% to 100% LTV available
  • Secured against a property or home
  • Subject to property valuations
  • Funding available in matter of weeks
  • Online application
  • Arrangement fees may apply
  • All credit histories considered

 

What Are Types of Secured Loans and What Are They Used For?

 

Homeowner loans – Most secured loans are taken out by homeowners who are looking to raise money against their property or home. This is usually known as a ‘second charge,’ since it is the second priority against your property after your first charge, which is your mortgage. This can be used to pay off bills, for gifting money to your relatives, debt consolidation or home improvements.

 

Debt consolidation loans – This allows you to take all your existing financial obligations (such as credit cards, loans, student debt) and put them into one single, more convenient monthly repayment schedule, repaid over 1 to 30 years. You can borrow up to £25,000 (or higher) and this is secured against your home.

 

Bridging loans – This is used by homeowners to bridge the gap between the purchase on one property and the next. Perhaps you cannot sell your property, but are keen to purchase another. 

This type of loan allows you to receive the money upfront so you can buy the desired property and then you can repay the loan in full once the original property has been sold. 

It is also commonly used by property developers to purchase properties at auction or under tight deadlines whilst avoiding property chains and long mortgage applications.

 

Second charge loans – This is where you borrow money against your home and it is the second charge from your bank account, after your mortgage takes the first charge or first priority of payment. The amount you can borrow from a second charge loan is a little less than your main mortgage, since the lender is now second in line when it comes to payments. However, you can still borrow quite a substantial amount – £1,000 to £1 million depending on the value of your property. This can be used for consolidating debts, home improvements, business purposes, holidays or school fees.

 

Equity release – Equity release allows you to unlock money that is currently tied up in your home. Targeted at the over 55 market, it refers to the ‘releasing of equity’ after you have been paying your mortgage for years and years and now own all or most of your property. You can use equity release to get a large sum of money upfront, which is tax-free and to continue living in your house. 

You can typically choose to release anywhere between 20% to 90% of the value of your home, deciding to remain owner of the property (lifetime mortgage) or give up equity in the property (home reversion) until the lender recovers it when you die or go into long term care.

 

What LTV is Available for Secured Loans?

Our lenders offer:

  • 50% LTV
  • 60% LTV
  • 70% LTV
  • 80% LTV
  • 90% LTV
  • 100% LTV

 

 

 

Which Secured Loan Lenders in the UK Do You Work With?

 

 

What To Consider When Applying for a Secured Loan

When you get a quote for a secured loan, start by thinking how much you need to borrow. A lot of UK customers use secured loans for debt consolidation, which is to pay off a number of existing debts such as credit cards and loans and putting them all into one single repayment format. In this case, it is worth calculating all debts and finding out how much interest you owe and for how long and applying for the right amount for you.

Consider the interest rate that you will be charged and the length of the loan – since the longer that you will need to borrow for, the more interest that will continue to add up year-on-year. So finding a low rate and just the right amount of time to borrow for, will help you get the best deal possible.

Be sure to take note of any additional loan or arrangement fees that can often come with a secured loan, including property valuations or solicitor fees, arrangement fees, broker fees or fees of early repayment. Being aware of these can help you save money during the loan application and funding process.

 

What Are The Risks Involved?

Since the loan is secured against your home, your property is at risk of repossession if you fail to keep up with repayments. When your loan is approved, you are receiving a large sum initially upfront and if you cannot repay it, they will have to take ownership of your home in order to recover their fees.

The lender will usually take a number of steps to help you repay your loan if you are facing difficulty and this may involve different repayment plans or arrangements. Repossession is usually the last resort.

With this in mind, it is important to understand the repayment terms and potential risks and Lending Expert is on hand to help you get the best rates and terms possible.

 

What Information Will I Need When I Apply for a Secured Loan?

  • Estimated value of your property
  • Estimated equity in your property
  • Value of any other outstanding debts that you owe
  • Decide how much you wish to borrow
  • Decide how long you need to borrow for
  • Monthly income
  • Email address and mobile phone number

 

Can I Apply for a Secured Loan with Bad Credit?

Yes, you can apply for a secured loan with a bad credit rating and this type of loan is popular for people with poor or adverse credit histories or previous CCJ’s.

When applying for unsecured loans, your loan approval is based on your income and credit rating. However, with secured loans, the value of your property and your equity in that property can largely determine the amount you can borrow and the success of your application. 

So despite having a less than perfect credit score, if you have a valuable home, flat or property, you can still get the funds that you need – and the range of lenders working with Lending Expert are here to help and willing to take a view of all different credit histories.

 

How to Apply with Lending Expert and Get a Free Quote

Use our comparison table provided to compare rates and terms from over 18 secured lenders that we have partnered with.

Once you have selected the lender of your choice, click on ‘check my eligibility’ where you will be taken to our form and can enter a few basic details. Our secured loans broker team will review your information and come back to you with the best options tailored to your requirements.

At Lending Expert, we proudly charge zero fees for applying, with no impact to your credit score and you can guarantee that we will keep your information and not share this without your permission. 

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.

There are many alternatives to secured loans if you do not want to risk using your property as collateral. There are unsecured loans if you prefer to borrow money without your house at risk - and your eligibility will be based on your income and credit score. In addition, you can consider a guarantor loan whereby you have an extra person you know to act as your guarantor and agree to cover your repayments if you cannot.

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.

Rates for secured loans start from 3.34% APRC, with the rates charged dependent on factors such as income, outstanding debt, credit score, value of your property and equity in your home. Additional fees may apply including broker, arrangement, valuation and solicitor fees - especially for borrowing large amounts.

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.

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