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Compare UK Secured Loan Options from FCA-Authorised Brokers

Compare Secured Loan Brokers in the UK

We have joined with three UK brokers that you can trust. They help you look at and compare your options for secured homeowner loans. Each broker is authorised and regulated by the Financial Conduct Authority. This gives you wide market coverage and access to some of the best loan deals.

Free Advice from Qualified Secured Loan Advisers

Talk to an adviser from one of our trusted partners to find out what loan options are there for you. The call is free and you are not required to do anything after. You will get expert, personal advice that can help you make a good choice.

Secured Homeowner Loans – How They Work

Secured loans, which people also call homeowner loans or second-charge mortgages, make it possible to borrow more money. You may get better rates because the loan is tied to your home. The loan is secured by your house. Based on how much of your home you own, and your own finances, you can borrow from £10,000 up to £1,000,000. The length of the loan can be from 3 years to 30 years.

What is a secured loan?

A secured loan is a type of loan that uses the value of your property, like your home, as a security. This means if you do not pay back the money, the lender could take your property. The lender feels more safe with this kind of loan, so it can also give you more options or easier rules. A secured loan uses what you own to help make sure you will pay the money back.

Because the loan uses your property as security, you can often borrow more money than with an unsecured personal loan. You may be able to get up to £1,000,000. These loans often have lower interest rates and longer times to pay back. Most repayment terms are between 3 and 30 years. If you want lower interest rates or a personal loan with more flexible terms, this could be a good option for you.

Lenders will assess:

The current value of your home
The amount of equity you have in it
Your credit history and how much money you make

Secured loans can only be taken by homeowners in the UK. These loans are a good choice for people who need a large amount of money. You can use the money from a secured loan for home improvements, debt consolidation, or a major buy. If you are a homeowner, you may want to get a secured loan for these reasons.

Compare Secured Loans

A secured loan is a kind of borrowing. Some people may call it a second mortgage or a homeowner loan. With this loan, the money you borrow is tied to something you own, like your home. This means the lender uses your property as security for the loan.

Because the loan is backed by your own property, lenders may give you:

Get bigger borrowing limits, and in some cases, you can borrow up to £1,000,000.
Enjoy lower interest rates than what you get with unsecured loans.
Have longer repayment terms. These often last from 3 to 30 years.

This is why secured loans are a good way for people to get money for big things. You can use them for home renovations, debt consolidation, or business investments.

To get this, you have to own a house or something else that is worth a lot. The lender will put a legal charge on your home. This means if you do not keep up with your repayments, the lender can get back what you owe by using your property.

Secured vs Unsecured Loans

Unsecured loans, also called personal loans, often let you borrow up to around £25,000.
Secured loans can let you borrow more money, depending on your home’s value and your credit profile.
Monthly payments can be lower. This is because the loan can run for more years and the risk for lenders is lower.

But, you should apply only if you feel sure that you can pay back the loan. If you do not, your home could be at risk.

What can I use a secured loan for?

Secured loans are good when you need to borrow a large amount of money. You can use these loans for many things. With a secured loan, you can get lower monthly repayments and pay back the money over a longer time. This helps to keep the repayments smaller each month.

Common reasons that homeowners get a secured loan are:

Home improvements – you can use this for a new kitchen or bathroom. It is also good if you need an extension, want to do a loft conversion, plan to add a conservatory, or want some new landscaping.
Debt consolidation – this is a way to bring credit cards and loans together into one payment. It often comes with a lower interest rate, which saves you money.
Big purchases – it can help you buy a car, pay for a wedding, or fund private education.
Business needs – you might want to use some of the value in your home if you have a new business idea or want to make an investment.

What can I use a secured loan for

Most lenders want to know what you will use the loan for during the application. You will find that many of them are flexible. If what you want to do with the money is legal and meets their rules, you can use the loan for that reason.

Who will qualify for a secured loan?

Each lender has their own rules for who can get a secured loan. But most lenders in the UK look for the things below:

You have to be a UK resident.
You must be 18 or older. Some lenders also have top age limits.
You need to own your own home and have some value, or equity, in it.
You must be able to show proof that you get regular income. This helps show if you can afford it.
It helps to have a stable address and a good credit history. This can make your chances of getting approved better.

Meeting these rules will not promise that you will get accepted. But, it can help the lenders look at your application in a better way.

What Are the Repayment Terms for Secured Loans?

Secured loans often give you flexible repayment times. You can pick a time to pay back the loan that is between 3 to 30 years. The exact length usually depends on:

The amount you want to borrow
Your age when you apply
The reason for the loan
Your money situation and the lender’s rules

In most cases, younger people can get loans with longer terms. Older people often get shorter loan periods. This helps make sure the loan is paid back before they retire.

Keep in mind:

Longer loan terms can give you lower monthly repayments. But, you will most likely pay more in the end because of the interest.
Shorter loan terms mean you will have higher monthly repayments. However, you may pay less for borrowing overall.
When you look at secured loans, check the APR (Annual Percentage Rate). This shows the total cost of the loan, covering both interest and other fees.

If you do not know what repayment length will work best for you, one of our advisers can help. A qualified adviser from our FCA-authorised partners will guide you.

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Can I Get a Secured Loan if I’m Self-Employed?

Yes, there are many lenders that give secured loans for self-employed homeowners. You will need to show proof of your income. You also must pass checks to show that you can afford the loan.

If you work for yourself, you might have to give:

Proof of income like SA302s or tax returns
Business bank statements that show the money you get on a regular basis
Up to 3 years of trading accounts might be needed, based on what the lender wants

Each lender looks for different things, so talking to a broker can help you find the right lender. A broker can help you if you are self-employed and want a lender who understands your money and work situation.

Will there be a credit check when I apply for a secured loan?

Yes, a credit check is usually done when you apply for a secured loan. This helps the lender see how much they can give you and if this loan will be good for you. A credit check is a normal step in most secured loan applications.

Applying for a deal through Free Price Compare will not impact your credit score. This is how the process works:

There is no credit check when you first send your enquiry through our site.
An adviser may do a soft check to see if you could get a loan.
A full credit check will only happen when you choose to move ahead with a certain lender.

All lenders have to give money in a way that does not hurt you. They will only go ahead with you if they think that you can pay back the loan.

How much can I borrow as a secured loan

How much can I borrow as a secured loan?

The loan amount that you can get will depend on a few things.

The equity in your home
The value of your property
Your income, debts, and total money picture
Lenders may also look at your credit report to see risk before you get an offer.

Example: If your home is worth £200,000 and you still have £150,000 left to pay on your mortgage, you have £50,000 in equity. A lender can let you borrow some of that equity, based on their LTV rules.

Use our secured loan calculator to find out how much you can borrow. It looks at your income and what you own (your equity) to give you an idea of the amount. This loan calculator can help you see your options for a secured loan.

What are the secured loan interest rates based on?

The interest rate on a secured loan is set based on a few main things. Lenders will look at your whole financial situation. They want to know how risky it would be to give you money. After knowing this, they decide what interest rate you get.

Main factors include:

The amount you want to borrow
The equity available in your home
Loan-to-value (LTV) ratio – this is how much you want to borrow as a part of your home’s value
The lender’s own criteria and how much risk they want to take on
The loan term – how long you plan to take to pay back the loan
Your credit history and score
The Bank of England base rate, which helps set the cost of borrowing

Interest rates for secured loans can change a lot. They usually be between 3% and 20% APR. If you have a poor credit history, your rate may be higher than someone with good credit history.

Secured loans often have lower interest rates when you compare them with unsecured loans. This is because the lender takes less risk if you give collateral, like your home. With this security, the lender can feel better that they will get their money back, so you get a lower interest rate.

Can I fix the interest rate on a secured loan?

Yes, many lenders give you the choice between fixed rate and variable rate secured loans. The type that you pick will change how your monthly repayments work as time goes on.

Fixed Rate Secured Loans

Your interest rate stays the same for a set time. Sometimes this may be the full loan term.
This helps you budget because your monthly repayments will not change. You will know what to pay each time.
Some fixed rates can become a variable rate after the first part of the loan, so always read the terms.

Variable Rate Secured Loans

The interest rate can go up or down while you have the loan.
This means your monthly repayments may go up or down too.
The rates can change because of the Bank of England base rate and other things that happen with the economy.
If rates go up a lot, your repayments could get higher and you may have to pay more each month.

Understanding APRC

When you look at secured loans, check the APRC (Annual Percentage Rate of Charge). The APRC shows the interest rate and all the must-pay fees. This lets you see the whole cost of borrowing money for the entire time of the loan.

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What happens if I miss a secured loan repayment?

If you miss a repayment on your secured loan, it can cause big problems. So, it’s important to act fast if you find that you are struggling.

Here’s what can happen:

The lender can charge you a missed payment fee or add more interest if you do not pay on time.
If you miss a payment, this may be reported to credit reference agencies. This can hurt your credit score.
If you miss payments again, you could get a County Court Judgment (CCJ).
If things get worse, the lender may start to take your property to help pay back the debt. They can do this by forcing a sale.

If there is more than one lender with a charge on your property, they will get paid back in the order that their loans were registered.

Important: If you have trouble making your repayments, talk to your lender right away. Most lenders will work with you to find a short-term answer.

How Long Does It Take to Get a Secured Loan?

The time you need to get a secured loan can be different. It often depends on your own situation and the steps the lender takes.

On average, the process can take:

You can get it in as little as 2 to 5 working days when you have a simple application.
It can take up to 2 to 3 weeks for more complex cases, like when there are two people applying together or for people who work for themselves.

Your adviser will help you at every step. This includes checking your papers, finding out what your property is worth, and getting approval from the lender.

Can I Get a Secured Loan If I Have Bad Credit?

Yes, you can still get a secured loan even if you have a bad credit history. A bad credit score or poor credit history may mean you have to pay higher interest rates. Someone with a good credit score or good credit history might get lower interest rates. Still, our panel of lenders works with people from all kinds of credit backgrounds. They try to help those who have bad credit as well as those with better credit history.

Here’s what you should know:

A secured loan can help lower risk for the lender. This may help you get approved more easily.
If you have a bad credit score, you might see higher interest rates on your loan.
Not every lender works with people who have bad credit. But there are some that offer loans for people with bad credit.
Your home could be at risk if you do not make the repayments, no matter what your credit score is.

At Free Price Compare, we team up with a group of brokers who are approved by the FCA. Some of them might still have choices for you, even if you have a poor credit history.

Can I Get a Secured Loan If I Have Bad Credit

Can I Pay Off My Secured Loan Early?

Yes, you can usually pay back secured loans early. You can pay off the whole loan or just a part of it. Some lenders may ask for an early repayment fee. But this fee is often less than what you would pay in interest over the full set period of time. Paying off your loan early can help you spend less on your total loan cost.

Key points to keep in mind:

Early repayment charges (ERCs) may be charged, so it’s important to read your loan agreement first.
Even if you have to pay a fee, paying off early can help lower the total cost of your borrowing.
Some lenders let you make partial overpayments without any penalty, letting you pay off your loan sooner.

Always talk to your broker or lender before you make an early repayment. This way, you will get to know about the costs and any savings that come with it.

What is the application process for a secured loan?

Applying for a secured loan is a lot like getting a mortgage. The lender will look at your whole financial profile before they decide if you can have the loan or not.

Here’s what the process usually involves:

Initial enquiry – You give the lender a few basic details, like the amount you want to borrow and what you need the money for.
Affordability checks – The lender or a broker will ask you for:
- Proof of who you are
- A record of your work and current pay
- A list of your monthly costs and any debts you have
Property information – The lender looks at the value of your property and how much equity you have in it.
Loan recommendation – If you get approved, you will get a loan offer that fits your situation.
Final approval and payout – When you have signed the papers, you get the money. This is usually done in 2 to 3 weeks.

You need to give accurate and honest details at every step. The lender has to check if the loan will be good for you. They want to make sure it is right and fits your situation.

What Should I Consider Before Taking Out a Secured Loan?

Make sure to look at different ways of borrowing before you go for a secured loan. For homeowners, remortgage or equity release can be other options. The right choice depends on what you need. Always think carefully about the risks, especially if your home will be used as security.

Key considerations include:

Risk to your home – If you do not keep up with repayments, the lender can take back your home to get their money.
Affordability – Make sure you can handle repayments now and later, especially if you pick a variable rate.
Interest rates – A variable rate can go up over time, which means your monthly payment might also go up.
Repayment protection – You can think about getting insurance like income protection. This can help pay your repayments if you get sick, lose your job, or something else big happens in your life.

Always take the time to read the terms well. If there is any part of the loan you do not understand, talk to a qualified adviser.

Secured Loan Providers

I want to borrow

£

Over how long?

50%

The maximum loan to value available is 50%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 25 Years

The minimum load term is 5 years and maximum loan term is 25 years

Check Eligibility

Representative Example: The representative APRC is 6.7% (variable) so if you borrow £255,000 over 25 years at a rate of 6.34% (variable) you will repay £1,729.57 per month & total amount payable £518,871.00.

65%

The maximum loan to value available is 65%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 25 Years

The minimum load term is 5 years and maximum loan term is 25 years

Check Eligibility

Representative Example: The representative APRC is 6.8% (variable) so if you borrow £255,000 over 25 years at a rate of 6.39% (variable) you will repay £1,737.64 per month & total amount payable £521,292.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

3 - 30 Years

The minimum load term is 3 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.4% (variable) so if you borrow £1,010,000 over 25 years at a rate of 6.14% (variable) you will repay £6,630.00 per month & total amount payable £1,989,000.00.

United Trust Bank Ltd

65%

The maximum loan to value available is 65%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

3 - 30 Years

The minimum load term is 3 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.4% (variable) so if you borrow £1,010,000 over 25 years at a rate of 6.14% (variable) you will repay £6,630.00 per month & total amount payable £1,989,000.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.4% (variable) so if you borrow £255,000 over 25 years at a rate of 5.99% (variable) you will repay £1,673.53 per month & total amount payable £502,059.00.

United Trust Bank Ltd

65%

The maximum loan to value available is 65%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.4% (variable) so if you borrow £255,000 over 25 years at a rate of 5.99% (variable) you will repay £1,673.53 per month & total amount payable £502,059.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.8% (variable) so if you borrow £255,000 over 25 years at a rate of 6.35% (variable) you will repay £1,731.18 per month & total amount payable £519,354.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.5% (variable) so if you borrow £255,000 over 25 years at a rate of 6.14% (variable) you will repay £1,697.44 per month & total amount payable £509,232.00.

United Trust Bank Ltd

65%

The maximum loan to value available is 65%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.5% (variable) so if you borrow £255,000 over 25 years at a rate of 6.14% (variable) you will repay £1,697.44 per month & total amount payable £509,232.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£10000 - £500000

The minimum you can borrow is £10000 years and maximum you can borrow is £500000

5 - 30 Years

The minimum load term is 5 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.9% (variable) so if you borrow £255,000 over 25 years at a rate of 6.5% (variable) you will repay £1,755.47 per month & total amount payable £526,641.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

2 - 30 Years

The minimum load term is 2 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.1% (variable) so if you borrow £1,010,000 over 25 years at a rate of 5.84% (variable) you will repay £6,443.86 per month & total amount payable £1,933,158.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

2 - 30 Years

The minimum load term is 2 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.5% (variable) so if you borrow £1,010,000 over 25 years at a rate of 6.29% (variable) you will repay £6,724.01 per month & total amount payable £2,017,203.00.

United Trust Bank Ltd

65%

The maximum loan to value available is 65%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

2 - 30 Years

The minimum load term is 2 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.1% (variable) so if you borrow £1,010,000 over 25 years at a rate of 5.84% (variable) you will repay £6,443.86 per month & total amount payable £1,933,158.00.

United Trust Bank Ltd

65%

The maximum loan to value available is 65%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

2 - 30 Years

The minimum load term is 2 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.5% (variable) so if you borrow £1,010,000 over 25 years at a rate of 6.29% (variable) you will repay £6,724.01 per month & total amount payable £2,017,203.00.

United Trust Bank Ltd

60%

The maximum loan to value available is 60%

£25000 - £2000000

The minimum you can borrow is £25000 years and maximum you can borrow is £2000000

2 - 30 Years

The minimum load term is 2 years and maximum loan term is 30 years

Check Eligibility

Representative Example: The representative APRC is 6.2% (variable) so if you borrow £1,010,000 over 25 years at a rate of 5.99% (variable) you will repay £6,536.61 per month & total amount payable £1,960,983.00.

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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 MORTGAGE OR ANY OTHER DEBT SECURED ON IT

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Secured Loan Frequently asked questions

A secured loan is a way to borrow money where you use your home or something valuable as security. If you do not make the repayments, the lender can take your property to get back their money. This kind of borrowing makes sure that the lender has something to go after if you do not pay it back.

Secured loans are commonly used for:

You can use the money for home improvements, like getting a new kitchen or putting in an extension.
It can help you buy a car or pay for a wedding.
This is a good option for debt consolidation.
You may also use it for other big things you need to buy.

Most lenders will want to know what the loan is for when you fill out the application.

Loan terms change with your age, how much money you make, and what you plan to do with the loan. If you get a secured loan, the loan terms are usually from 3 to 30 years. A longer loan term means your monthly repayments will be lower. But you might end up paying more in interest over time.

Yes, people who are self-employed can get a secured loan. You may have to give:

You will need to show proof of income, like tax returns or SA302 forms.
Give the business bank statements.
Some lenders may ask for up to three years of trading accounts.

Yes, if you and someone else own a property together, most lenders will ask you to apply for a secured loan together. They do this because the loan is tied to the shared property, and both of you will be responsible for making the repayments.

In a joint application:

Both people have to meet the lender’s rules to get the loan.
Both of them must pay back the whole loan together.
The lender can use money from both people to check if they can afford the loan.

Make sure that both owners know what they have to do before moving forward.

Yes, when you apply for a secured loan, the lender will usually do a credit check. This is a normal part of the secured loan application. The lender does this to see how much to give you and for how long.

There is no credit check when you first send an enquiry on our site. A full credit check happens only after you talk to an adviser and agree to move forward with your application.

The amount you can borrow will depend on the equity in your property. This means you need to look at the gap between what your home is worth and what you still owe on your mortgage.

Lenders will also consider:

Your credit history
Your income and outgoings
The loan-to-value (LTV) ratio
If you can afford it based on your current financial obligations

Some lenders can let you borrow up to £1,000,000. It can depend on your situation.

Secured loan interest rates can be different with each lender. A few things help decide what interest rates you get with a lender. These things are:

The amount you want to borrow
The lender’s own rules
The loan term (how long you have to pay it back)
Your credit history and financial profile
The current Bank of England base rate

Interest rates on a secured loan can be from 3% to 20% APR. Your interest rates will depend on your credit history, lender, the Bank of England base rate, and other things about your loan.

If you do not make a payment on your secured loan, the lender may do the following:

Charge a late payment fee
Add more interest to the amount missed
Tell credit reference agencies about the missed payment, and this can hurt your credit score
Go to court to get the debt back, and this could mean a County Court Judgment (CCJ)
Start repossession proceedings if you keep missing repayments

To avoid this, you should talk to your lender right away if you have trouble making payments. They might be able to help you with a short-term solution.

The time you get a secured loan can be different for each person. It also depends on how the lender does things. In general, it is about your own situation and how the lender works.

Simple applications can be done in 2 to 5 working days.
Cases that are harder, like if there is joint ownership or self-employed income, can take up to 2–3 weeks.

The timeline has a few important steps. First, there will be checks to see if you can afford it. A valuation will take place after that. Then, your lender has to say yes. The last step is to sign all the documents.

Yes, you can still get a secured loan even if you have bad credit or do not have much credit history. Some lenders focus on helping people who have a poor or limited credit history. These lenders offer secured loans to those with bad credit.

Key points:

Interest rates can be higher for people who have bad credit than for people with good credit.
Not all lenders say yes to people with bad credit. But many will look at their application if the loan is one they can pay back.
Our broker group has lenders that allow many different credit backgrounds, including those with bad credit.

Yes, most secured loans let you repay the loan early. You can pay all of it or just part of it. But, your lender may charge you an early repayment fee. This depends on what rules your lender has.

In many cases, when you pay off your loan early, you can lower the total cost of borrowing. This is because the early repayment charge is often less than the interest you would pay if you kept the loan for the whole time.

Always read your loan agreement or talk to your adviser. This will help you know:

Find out if there will be early repayment charges.
See how much notice you need to give.
Check what your possible savings could be.

Fees may need to be paid depending on the type of financial product you choose. This will be based on your own situation and we will talk about it with you as soon as possible.

Think carefully before you secure other debts against your home. Your home could be taken away if you do not keep up with repayments on a mortgage or any debt tied to it. If you are thinking about using one loan to pay off other borrowing, you need to know that you may make the repayment period longer and end up paying more overall.

Fees may need to be paid depending on the type of financial product you choose. This will be based on your own situation and we will talk about it with you as soon as possible.

Think carefully before you secure other debts against your home. Your home could be taken away if you do not keep up with repayments on a mortgage or any debt tied to it. If you are thinking about using one loan to pay off other borrowing, you need to know that you may make the repayment period longer and end up paying more overall.

Page last updated on: 10/06/2025

Page reviewed by: Andrea Troy

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