100% Recommend

Simon Nicholson

Expertly compared by Simon Nicholson

Products Updated June 9, 2021

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:

Learn More Available via broker only

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.

 

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. Use our secured loan repayment calculator to get an estimate of costs and fees.

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. You can use the secured loan calculator on this page to get an estimate of the cost and repayments of your loan.

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. The loan calculator here on this page will help you with some basic estimated costs.

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

Loans For Self Employed

If you're self employed and need a low rate loan we can help. Apply in confidence with Lending Expert.

Loans For Pensioners over 65

If you're a pensioner or over the age of 65 and need a loan we can help. We can quickly check your eligibility online.

Bad Credit Loans

If you have bad credit issues or a low credit score and need a loan we can help.

Secured Debt Consolidation Loans

If you're a homeowner and wish to consolidate your debts into an easy to manage loan we can help. Check your eligibility and compare rates with Lending Expert.

Second Charge Mortgages

Take out and apply for a second charge mortgage with the help of our expert loan brokers.

Home Improvement Loans

Make home improvements with a secured home improvement loan. Get expert advice and market comparison with Lending Expert.

Bridging Loans

Short term bridge finance from our expert team of brokers. Loans from 1 - 24 months from a wide range of lenders. Apply online with Lending Expert.

Homeowner Loans

Quickly check your eligibility and apply online for a homeowner loan with Lending Expert.

Personal Loans

Apply for a personal loan from 2.9% APR online here at Lending Expert today.