Use Our Secured Loans Calculator & Find The Best Loan For You
Our secured loans calculator allows you to choose how much you want to borrow and how long for and you will be able to compare a whole list of secured lenders across the UK.
Our calculator is completely free to use and you can check your eligibility today with Lending Expert in less than 5 minutes.
We require just a few basic bits of information including how much you want to borrow, how long for, your personal details, property details, monthly income and expenses.
Secured loans (also called homeowner loans) are usually subject to various checks, including a property valuation and proof of income – but if approved, you can usually receive funds to your bank account in just a few weeks.
Check My Eligibility
What is a Secured Loan?
A secured loan allows you to use something valuable as collateral or security in order to borrow the money you need. They are also commonly referred to second charge loans or second charge mortgages.
Your security is often something that you own and is valuable, such as home, flat, property or vehicle and you can leverage its value in order to borrow money, ranging from £500 to £250,000.
The duration of a secured loan ranges from 1 to 30 years and is repaid in monthly instalments, with rates starting from just 3.34% APR.
Secured loans are ideal for homeowners looking to borrow money or consolidate debts – and they are also popular for people with bad credit histories who may have been declined elsewhere.
It is important to remember that by using your property as security, this could be repossessed by the lender if you do not keep up with repayments for some time.
What Can a Secured Loan Be Used For?
- Business expenses
- Debt consolidation
- Home improvements
- School fees
- Staying on top of bills
- Vehicle purchases
What Can I Use as Security?
Secured loans are often associated with borrowing against a property, either one that you live in or use for commercial purposes. This includes homes, flats, maisonettes, bungalows, offices, storefronts, garages and warehouses.
Secured loans can also refer to using a vehicle as security whether it is cars, bikes, vans, lorries or a fleet of vehicles. See also, logbook loans.
Why Should I Use a Secured Loans Calculator?
With a number of lenders and products available, a secured loans calculator is similar to our bridging loan calculator and allows you to choose the terms of your loan and find a number of competitive providers, rates and terms.
Use our calculator to compare:
- Loan amounts
- Loan duration
- Repayment amounts
Rather than going to one lender directly, you can find the best rates all in one place.
At Lending Expert, we have partnered with a wide range of secured lenders, who can offer loans for all purposes, sizes and credit backgrounds. Simply use our secured loan calculator and click on ‘Check My Eligibility’ to get started.
Check My Eligibility
Is Your Secured loans Calculator Free to Use?
Yes, absolutely, you can use our calculator free of charge and you can compare rates at your convenience. We do not charge any fees for applying either, we only receive a broker fee if your application is successfully approved and funded.
What is the Eligibility Criteria for a Secured Loan?
- You must be a UK resident
- You are a homeowner
- You have an existing mortgage
- You are employed with a regular income
- No recent bankruptcies – although bad credit is considered
Can I Get a Secured Loan with Bad Credit?
Yes, you can get a secured loan for bad credit and this type of borrowing is often used by people who have been turned down for mainstream loans.
If you have a property or vehicle that is in good condition, you can secure a loan against it and borrow the money you need. You will need to have a stable income and be able to afford repayments – and do not forget that if you cannot keep up, your home or vehicle could be repossessed. Find out more here in this guide.
What Additional Fees Are There?
In addition to the interest charged by the lender, other fees associated with secured loans include:
- Early repayment fees
- Broker fees
- Legal fees
- Survey fees
- Valuation fees
How to Use The Secured Loans Calculator from Lending Expert and Apply Today
To use our secured loans calculator, simply click on the buttons provided that allow you to choose the loan amount and loan duration.
Use our table to compare the different secured loan options for you and when you are ready, simply click on ‘Check My Eligibility.’
Our team would be delighted to process your enquiry. We require just a few pieces of information including the value and details of your security and how much of it you own.
We can usually provide an indicative quote within 24 hours and subject to further checks, you can usually receive the loan transferred to your bank account within a matter of weeks.
Check My Eligibility