We have teamed up with our secured loan partner Fluent Money to compare the secured loan market to help you find best possible secured loan for you. They are authorised and regulated by the Financial Conduct Authority. Registration number is 654425.
Get helpful advice
Speak to one of our secured loan advisers to discuss the options available for you. For your peace of mind, there is no obligation or charge, we are here to help find you a secured loan which suits your needs. You can call our advisors on 0800 880 7655
Loans for Homeowners
Secured loans also known as second-charge mortgages (and homeowner loans) could be an easy way to borrow a large sum of money at a potentially lower rate, as the loan will be secured against your home (property). We cover 90% of the market.
A secured loan also known as a homeowner loan is a sum of money you could borrow which is secured against your home.
Security allows you to borrow more money compared to unsecured loans available in the market. You are unlikely to get a larger sum of money (more than £25,000) with unsecured loans, however with secured loans(home owners loan) you could easily borrow a large sum of money up to £500,000. You can also pay your secured loan over longer repayment terms. Usually you can repay from 3 to 15 years.
Secured Loan Frequently asked questions
It is a loan that is secured against your property which will be seized if repayments are not made
Secured loan can be used to carry out home improvement, buying a new car, debt consolidation and any one of large purchases. If you have any other questions you can speak to our secured loan advisors on 0800 880 7655
It will depend on what the reason of the loan is. More details can be discussed with our advisors. Terms also depends on your age and will determine how many years you can look to borrow. Typically, you can borrow up to 30 years.
Yes you can still apply for a secured loan. You will need to provide followings in order to borrow:
1. Proof of income
2. Bank statements (business bank statements)
3. In some case’s 3 years’ worth of accounts.
Yes, if you own a property with someone then you are required to make a joint application. Both owners will be liable for making repayments and paying the full loan within the agreed terms.
As part of an application process the lender will carry out a credit check. This process helps lenders to decide how much then can land and how long for. There will not be a credit check based on the application on this site, it is only when you have discussed the application with an advisor and agree to move forward.
Your secured loan borrowing amount will depend on how much equity you have in the property you want to borrow against.
1.The amount you are looking to borrow
3.How long you are looking to borrow
4.Your credit history
5.The current interest rate set by the Bank of England
Usually interest rates can vary as lot by lenders and interest rates can vary from 3 to 20%
Usually the lender will charge you a fee for missing a monthly repayment and may also charge you additional interest for the unpaid payment. If you are not making the payments regularly, the lender may report you to credit reference agency which will adversely affect your credit profile. The lender can also get a CCJ (County court judgement) against you for not paying and may start a repossession process.
This will depend on your circumstances. However, it could vary from 2 to 20 days and in some cases can take a few weeks.
Yes, it is possible to get a secured loan even if you have bad credit but the rates may be higher than someone with good credit. Not all lenders will consider you but we work with a very large panel and we will be able to match your need with a lender.
Yes, you can pay back your loan earlier but you may be charged early repayment fee but this will be lower than the remaining interest on the loan.