Compare Secured Loans

Compare secured loans from all the cheap secured loan providers in the UK side by side, see who offers the cheapest secured loan rates at a glance and apply for the best homeowner loan in minutes. Our personal secure loans comparison makes it easy to find the cheapest homeowner loans that suit your circumstances.
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 Loan TypeMax LTVLoanAnnual RateTerm 
MinimumMaximumMinimumMaximum
Shawbrook Bank
Platinum Exclusive Secured Loan
Secured50%£20,000£100,0005%
3
years
25
years
Representative Example: The Representative APR is 5% (variable) so if you borrow £20,000 over 10 years at a rate of 4.9% p.a. (variable) you will repay £211.15 per month & total amount payable £25,455.60.
You must be a homeowner to apply as this loan will be secured against your home.
Exclusively available when you get a quote through money.co.uk.
Nemo Personal Finance
 
Nemo's cheapest Secured Loan
Secured55%£40,000£200,0005.59%
3
years
25
years
Representative Example: The Representative APR is 6.2% (variable) so if you borrow £100000 over 25 years at a rate of 5.592% p.a. (variable) you will repay £644.38 per month & total amount payable £154,651.20.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Super Sized Secured Loan from 6.5%
Secured50%£100,000£2,500,0006.5%
3
years
25
years
Representative Example: The Representative APR is 6.86% (variable) so if you borrow £500000 over 20 years at a rate of 6.5% p.a. (variable) you will repay £3772.56 per month & total amount payable £905,414.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 6.7% APR
Secured55%£40,000£200,0006.54%
3
years
25
years
Representative Example: The Representative APR is 8.4% (variable) so if you borrow £40000 over 10 years at a rate of 6.54% p.a. (variable) you will repay £384.26 per month & total amount payable £46,111.20.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Prestige Finance most affordable secured loan
Secured70%£10,000£100,0006.75%
3
years
25
years
Representative Example: The Representative APR is 8.47% (variable) so if you borrow £50000 over 15 years at a rate of 6.75% p.a. (variable) you will repay £482.28 per month & total amount payable £86,810.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Shawbrook Banks lowest standard rate
Secured65%£20,000£100,0006.9%
3
years
25
years
Representative Example: The Representative APR is 9.2% (variable) so if you borrow £40000 over 15 years at a rate of 6.9% p.a. (variable) you will repay £402.23 per month & total amount payable £72,401.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
Secured50%£100,001£150,0006.9%
3
years
25
years
Representative Example: The Representative APR is 9.2% (variable) so if you borrow £40000 over 15 years at a rate of 6.9% p.a. (variable) you will repay £402.23 per month & total amount payable £72,401.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Part of the Principality Building Society Group
Secured70%£40,000£200,0007.01%
3
years
25
years
Representative Example: The Representative APR is 8.3% (variable) so if you borrow £50000 over 20 years at a rate of 7.008% p.a. (variable) you will repay £418.92 per month & total amount payable £100,540.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Low Rate secured loan from 7%
Secured65%£7,500£39,9997.01%
3
years
25
years
Representative Example: The Representative APR is 8.9% (variable) so if you borrow £30000 over 15 years at a rate of 7.008% p.a. (variable) you will repay £296.76 per month & total amount payable £53,416.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured loan at competitive rate
Secured70%£7,500£39,9997.2%
3
years
25
years
Representative Example: The Representative APR is 10.9% (variable) so if you borrow £15000 over 10 years at a rate of 7.2% p.a. (variable) you will repay £201.27 per month & total amount payable £24,152.40.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Part of the One Savings Bank Group
Secured75%£10,000£100,0007.5%
3
years
25
years
Representative Example: The Representative APR is 9.69% (variable) so if you borrow £40000 over 15 years at a rate of 7.5% p.a. (variable) you will repay £421.58 per month & total amount payable £74,253.60.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Super Sized Secured Loan from 7.5%
Secured65%£100,000£2,500,0007.5%
3
years
25
years
Representative Example: The Representative APR is 7.84% (variable) so if you borrow £1000000 over 25 years at a rate of 7.5% p.a. (variable) you will repay £7434.21 per month & total amount payable £2,230,263.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
Secured65%£100,001£150,0007.5%
3
years
25
years
Representative Example: The Representative APR is 8.3% (variable) so if you borrow £150000 over 20 years at a rate of 7.5% p.a. (variable) you will repay £1254.15 per month & total amount payable £300,996.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
Secured75%£20,000£100,0007.7%
3
years
25
years
Representative Example: The Representative APR is 9.7% (variable) so if you borrow £50000 over 15 years at a rate of 7.7% p.a. (variable) you will repay £516.41 per month & total amount payable £92,953.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Simple, straight forward process
Secured75%£7,500£74,9997.75%
3
years
25
years
Representative Example: The Representative APR is 12.3% (variable) so if you borrow £40000 over 15 years at a rate of 7.752% p.a. (variable) you will repay £472.07 per month & total amount payable £84,972.60.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
Secured50%£150,001£200,0007.75%
3
years
25
years
Representative Example: The Representative APR is 8.5% (variable) so if you borrow £175000 over 20 years at a rate of 7.75% p.a. (variable) you will repay £1484.52 per month & total amount payable £356,284.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 8.2% APR
Secured70%£40,000£200,0007.94%
3
years
25
years
Representative Example: The Representative APR is 10% (variable) so if you borrow £40000 over 10 years at a rate of 7.944% p.a. (variable) you will repay £419.07 per month & total amount payable £50,288.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 8.4% APR
Secured65%£7,500£39,9998.12%
3
years
25
years
Representative Example: The Representative APR is 10.9% (variable) so if you borrow £15000 over 10 years at a rate of 8.124% p.a. (variable) you will repay £201.27 per month & total amount payable £24,152.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
High LTV secured loan
Secured55%£7,500£100,0008.59%
3
years
25
years
Representative Example: The Representative APR is 10.7% (variable) so if you borrow £40000 over 15 years at a rate of 8.592% p.a. (variable) you will repay £435.66 per month & total amount payable £78,418.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Low rate Secured Loan 8.75%
Secured50%£200,000£500,0008.75%
3
years
25
years
Representative Example: The Representative APR is 8.5% (variable) so if you borrow £175000 over 20 years at a rate of 8.75% p.a. (variable) you will repay £1484.52 per month & total amount payable £356,284.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 8.9%
Secured71%£5,000£60,0008.9%
3
years
25
years
Representative Example: The Representative APR is 12.4% (variable) so if you borrow £30000 over 10 years at a rate of 8.9% p.a. (variable) you will repay £425.45 per month & total amount payable £51,054.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 8.9%
Secured55%£5,000£75,0008.9%
3
years
25
years
Representative Example: The Representative APR is 12.4% (variable) so if you borrow £30000 over 10 years at a rate of 8.9% p.a. (variable) you will repay £425.45 per month & total amount payable £51,054.00.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Step One Finance's cheapest secured loan
Secured60%£7,500£50,0008.9%
5
years
20
years
Representative Example: The Representative APR is 11.7% (variable) so if you borrow £30000 over 15 years at a rate of 8.9% p.a. (variable) you will repay £342.78 per month & total amount payable £61,700.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 9.4% APR
Secured70%£7,500£39,9999.05%
3
years
25
years
Representative Example: The Representative APR is 11.9% (variable) so if you borrow £15000 over 10 years at a rate of 9.048% p.a. (variable) you will repay £209.44 per month & total amount payable £25,132.80.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Secured loan for thoses with mild adverse credit
Secured75%£10,000£100,0009.4%
3
years
25
years
Representative Example: The Representative APR is 11.48% (variable) so if you borrow £50000 over 15 years at a rate of 9.4% p.a. (variable) you will repay £565.82 per month & total amount payable £101,847.60.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Super Sized Secured Loan from 9.4%
Secured75%£100,000£2,500,0009.4%
3
years
25
years
Representative Example: The Representative APR is 9.87% (variable) so if you borrow £1500000 over 25 years at a rate of 9.4% p.a. (variable) you will repay £13053.29 per month & total amount payable £3,915,987.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
High LTV secured loan
Secured65%£7,500£100,0009.52%
3
years
25
years
Representative Example: The Representative APR is 12.5% (variable) so if you borrow £30000 over 10 years at a rate of 9.516% p.a. (variable) you will repay £427.3 per month & total amount payable £51,276.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
New larger loan product
Secured75%£75,000£20,0009.52%
3
years
25
years
Representative Example: The Representative APR is 10.5% (variable) so if you borrow £100000 over 25 years at a rate of 9.516% p.a. (variable) you will repay £909.8 per month & total amount payable £272,940.00.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Masthaven's cheapest loan rate
Secured60%£5,000£100,0009.75%
3
years
25
years
Representative Example: The Representative APR is 12.1% (variable) so if you borrow £40000 over 10 years at a rate of 9.75% p.a. (variable) you will repay £562.31 per month & total amount payable £67,477.20.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
UK Cheapest Rate for BTL Secured Loans
Secured70%£5,000£60,0009.85%
3
years
25
years
Representative Example: The Representative APR is 11.7% (variable) so if you borrow £40000 over 15 years at a rate of 9.85% p.a. (variable) you will repay £458.14 per month & total amount payable £82,465.20.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Flexible low rate Secured Loan
Secured75%£5,000£50,0009.9%
3
years
25
years
Representative Example: The Representative APR is 13.7% (variable) so if you borrow £25000 over 10 years at a rate of 9.9% p.a. (variable) you will repay £372.16 per month & total amount payable £44,659.20.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 9.9%
Secured61%£5,000£75,0009.9%
3
years
25
years
Representative Example: The Representative APR is 13.5% (variable) so if you borrow £30000 over 10 years at a rate of 9.9% p.a. (variable) you will repay £443.88 per month & total amount payable £53,265.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
9.9% Secured Loan
Secured65%£7,500£50,0009.9%
5
years
20
years
Representative Example: The Representative APR is 12.9% (variable) so if you borrow £30000 over 15 years at a rate of 9.9% p.a. (variable) you will repay £363.24 per month & total amount payable £65,383.20.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Light Adverse Secured Loan
Secured60%£5,000£80,0009.95%
3
years
25
years
Representative Example: The Representative APR is 11.8% (variable) so if you borrow £40000 over 15 years at a rate of 9.95% p.a. (variable) you will repay £460.77 per month & total amount payable £82,938.60.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Low rate BTL Secured Loan 9.95%
Secured55%£5,000£75,0009.95%
3
years
25
years
Representative Example: The Representative APR is 12.1% (variable) so if you borrow £45000 over 15 years at a rate of 9.95% p.a. (variable) you will repay £524.9 per month & total amount payable £94,482.00.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
The UK's oldest secured loan lender
Secured75%£3,000£50,00010.29%
3
years
30
years
Representative Example: The Representative APR is 14.3% (variable) so if you borrow £15000 over 10 years at a rate of 10.29% p.a. (variable) you will repay £227.73 per month & total amount payable £27,327.60.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Part of the One Savings Bank Group
Secured80%£10,000£100,00010.4%
3
years
25
years
Representative Example: The Representative APR is 13.69% (variable) so if you borrow £30000 over 10 years at a rate of 10.4% p.a. (variable) you will repay £446.13 per month & total amount payable £53,535.60.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Prime Rate Loan
Secured70%£5,000£90,00010.45%
3
years
25
years
Representative Example: The Representative APR is 12.4% (variable) so if you borrow £40000 over 15 years at a rate of 10.45% p.a. (variable) you will repay £473.99 per month & total amount payable £85,318.20.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Secured loan for thoses with mild adverse credit
Secured75%£10,000£100,00010.5%
3
years
25
years
Representative Example: The Representative APR is 13.2% (variable) so if you borrow £40000 over 15 years at a rate of 10.5% p.a. (variable) you will repay £491.9 per month & total amount payable £88,542.00.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Large Loan 11.4% APR
Secured75%£10,001£70,00010.76%
5
years
25
years
Representative Example: The Representative APR is 14.4% (variable) so if you borrow £20000 over 10 years at a rate of 10.76% p.a. (variable) you will repay £305.25 per month & total amount payable £36,630.00.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Large Loan 11.4% APR
Secured75%£10,001£70,00010.76%
5
years
25
years
Representative Example: The Representative APR is 13.8% (variable) so if you borrow £40000 over 15 years at a rate of 10.76% p.a. (variable) you will repay £506.56 per month & total amount payable £91,180.80.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Let-Property Prime Rate Loan
Secured60%£5,000£80,00010.85%
3
years
25
years
Representative Example: The Representative APR is 12.9% (variable) so if you borrow £30000 over 15 years at a rate of 10.85% p.a. (variable) you will repay £364.03 per month & total amount payable £65,525.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Secured Loans for Self Employed 11.4% APR
Secured75%£7,500£200,00010.88%
3
years
25
years
Representative Example: The Representative APR is 14.1% (variable) so if you borrow £40000 over 10 years at a rate of 10.884% p.a. (variable) you will repay £603.21 per month & total amount payable £72,385.20.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE secured loan product to money.co.uk
Secured65%£5,000£50,00010.9%
1
year
20
years
Representative Example: The Representative APR is 15.05% (variable) so if you borrow £15000 over 10 years at a rate of 10.9% p.a. (variable) you will repay £233.83 per month & total amount payable £28,059.84.
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance
Secured loan from one of the UK's oldest lenders
Secured75%£10,000£30,00010.9%
1
year
20
years
Representative Example: The Representative APR is 14.5% (variable) so if you borrow £20000 over 10 years at a rate of 10.9% p.a. (variable) you will repay £305.87 per month & total amount payable £36,704.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 10.9%
Secured80%£5,000£40,00010.9%
3
years
25
years
Representative Example: The Representative APR is 15.2% (variable) so if you borrow £20000 over 10 years at a rate of 10.9% p.a. (variable) you will repay £313.19 per month & total amount payable £37,582.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 10.9%
Secured71%£5,000£60,00010.9%
3
years
25
years
Representative Example: The Representative APR is 14.9% (variable) so if you borrow £25000 over 10 years at a rate of 10.9% p.a. (variable) you will repay £387.96 per month & total amount payable £46,555.20.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
10.9% Secured Loan
Secured70%£7,500£50,00010.9%
5
years
20
years
Representative Example: The Representative APR is 15.2% (variable) so if you borrow £25000 over 10 years at a rate of 10.9% p.a. (variable) you will repay £390.91 per month & total amount payable £46,909.20.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
The UK's biggest secured loan lender for second properties
Secured75%£5,000£75,00010.95%
3
years
30
years
Representative Example: The Representative APR is 12.9% (variable) so if you borrow £60000 over 20 years at a rate of 10.95% p.a. (variable) you will repay £668.04 per month & total amount payable £160,329.60.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Light Adverse Secured Loan
Secured70%£5,000£60,00010.95%
3
years
25
years
Representative Example: The Representative APR is 13% (variable) so if you borrow £35000 over 15 years at a rate of 10.95% p.a. (variable) you will repay £426.46 per month & total amount payable £76,762.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
No lender arrangement fee to pay
Secured80%£7,500£75,00011.15%
3
years
25
years
Representative Example: The Representative APR is 14.3% (variable) so if you borrow £40000 over 15 years at a rate of 11.148% p.a. (variable) you will repay £516.92 per month & total amount payable £93,045.60.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Historic Adverse Accepted
Secured60%£5,000£80,00011.25%
3
years
25
years
Representative Example: The Representative APR is 13.3% (variable) so if you borrow £35000 over 15 years at a rate of 11.25% p.a. (variable) you will repay £433.57 per month & total amount payable £78,042.60.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Adverse credit acceptable
Secured70%£3,000£50,00011.39%
3
years
30
years
Representative Example: The Representative APR is 14.7% (variable) so if you borrow £25000 over 15 years at a rate of 11.39% p.a. (variable) you will repay £329.49 per month & total amount payable £59,308.20.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Latest plan from Prestige Finance
Secured85%£10,000£100,00011.4%
3
years
25
years
Representative Example: The Representative APR is 15.1% (variable) so if you borrow £20000 over 10 years at a rate of 11.4% p.a. (variable) you will repay £312.25 per month & total amount payable £37,470.00.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Prime Rate Loan
Secured75%£5,000£80,00011.45%
3
years
25
years
Representative Example: The Representative APR is 14.1% (variable) so if you borrow £30000 over 10 years at a rate of 11.45% p.a. (variable) you will repay £453.13 per month & total amount payable £54,375.60.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Let-Property Loan with Mild Adverse Credit
Secured60%£5,000£80,00011.45%
3
years
25
years
Representative Example: The Representative APR is 13.6% (variable) so if you borrow £30000 over 15 years at a rate of 11.45% p.a. (variable) you will repay £376.24 per month & total amount payable £67,723.20.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE mild adverse secured loan
Secured65%£5,000£50,00011.5%
1
year
20
years
Representative Example: The Representative APR is 15.78% (variable) so if you borrow £15000 over 10 years at a rate of 11.5% p.a. (variable) you will repay £239.64 per month & total amount payable £28,757.90.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Secured loan for thoses with mild adverse credit
Secured70%£10,000£100,00011.5%
3
years
25
years
Representative Example: The Representative APR is 14.73% (variable) so if you borrow £30000 over 10 years at a rate of 11.5% p.a. (variable) you will repay £462.56 per month & total amount payable £55,507.20.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
High LTV secured loan
Secured75%£7,500£100,00011.60%
3
years
25
years
Representative Example: The Representative APR is 14.3% (variable) so if you borrow £40000 over 15 years at a rate of 11.604% p.a. (variable) you will repay £516.92 per month & total amount payable £93,045.60.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Small Loan 12.6% APR
Secured75%£3,000£10,00011.64%
3
years
15
years
Representative Example: The Representative APR is 17.6% (variable) so if you borrow £5000 over 5 years at a rate of 11.64% p.a. (variable) you will repay £122.45 per month & total amount payable £7,347.00.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Historic Adverse Accepted
Secured65%£5,000£50,00011.75%
3
years
25
years
Representative Example: The Representative APR is 14.5% (variable) so if you borrow £30000 over 10 years at a rate of 11.75% p.a. (variable) you will repay £458.68 per month & total amount payable £55,041.60.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Little existing credit loan
Secured60%£7,500£100,00011.78%
3
years
25
years
Representative Example: The Representative APR is 15.2% (variable) so if you borrow £30000 over 10 years at a rate of 11.784% p.a. (variable) you will repay £469.34 per month & total amount payable £56,320.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Consolidate credit and store cards or a personal loan
Secured60%£7,500£60,00011.78%
3
years
25
years
Representative Example: The Representative APR is 15.2% (variable) so if you borrow £20000 over 10 years at a rate of 11.784% p.a. (variable) you will repay £312.9 per month & total amount payable £37,548.00.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Blemain's largest secured loan
Secured65%£50,001£500,00011.9%
3
years
30
years
Representative Example: The Representative APR is 13.2% (variable) so if you borrow £500000 over 25 years at a rate of 11.9% p.a. (variable) you will repay £5454.38 per month & total amount payable £1,636,314.00.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE secured loan product to money.co.uk
Secured75%£5,000£50,00011.9%
1
year
20
years
Representative Example: The Representative APR is 19.82% (variable) so if you borrow £10000 over 5 years at a rate of 11.9% p.a. (variable) you will repay £255.12 per month & total amount payable £15,307.15.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Mild Adverse Secured Loan from 11.9%
Secured65%£5,000£50,00011.9%
3
years
25
years
Representative Example: The Representative APR is 15.6% (variable) so if you borrow £25000 over 10 years at a rate of 11.9% p.a. (variable) you will repay £396.96 per month & total amount payable £47,635.20.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 11.9%
Secured85%£5,000£30,00011.9%
3
years
25
years
Representative Example: The Representative APR is 16.9% (variable) so if you borrow £15000 over 10 years at a rate of 11.9% p.a. (variable) you will repay £248.35 per month & total amount payable £29,802.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 11.9%
Secured75%£5,000£40,00011.9%
3
years
25
years
Representative Example: The Representative APR is 16.4% (variable) so if you borrow £20000 over 10 years at a rate of 11.9% p.a. (variable) you will repay £326.23 per month & total amount payable £39,147.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
11.9% Secured Loan
Secured75%£7,500£50,00011.9%
5
years
20
years
Representative Example: The Representative APR is 16.4% (variable) so if you borrow £25000 over 10 years at a rate of 11.9% p.a. (variable) you will repay £407.17 per month & total amount payable £48,860.40.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Lowest rates for self employed borrowers
Secured60%£7,500£30,00011.9%
5
years
15
years
Representative Example: The Representative APR is 17.7% (variable) so if you borrow £15000 over 10 years at a rate of 11.9% p.a. (variable) you will repay £254.28 per month & total amount payable £30,513.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Step One's most affordable secured loan against a second property
Secured60%£7,500£50,00011.9%
5
years
15
years
Representative Example: The Representative APR is 15.5% (variable) so if you borrow £30000 over 15 years at a rate of 11.9% p.a. (variable) you will repay £409.39 per month & total amount payable £73,690.20.
You must be a homeowner to apply as this loan will be secured against your home.
Masthaven
Let-Property Loan with Mild Adverse Credit
Secured65%£5,000£50,00011.95%
3
years
25
years
Representative Example: The Representative APR is 15.1% (variable) so if you borrow £20000 over 10 years at a rate of 11.95% p.a. (variable) you will repay £312.07 per month & total amount payable £37,448.40.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Light adverse BTL loan rates
Secured75%£5,000£75,00012%
3
years
30
years
Representative Example: The Representative APR is 14.6% (variable) so if you borrow £50000 over 20 years at a rate of 12% p.a. (variable) you will repay £612.48 per month & total amount payable £146,995.20.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Large Loan 14.7% APR
Secured75%£10,001£60,00012.12%
5
years
25
years
Representative Example: The Representative APR is 16% (variable) so if you borrow £20000 over 10 years at a rate of 12.12% p.a. (variable) you will repay £322.37 per month & total amount payable £38,684.40.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Little existing credit loan
Secured75%£7,500£100,00012.23%
3
years
25
years
Representative Example: The Representative APR is 15.7% (variable) so if you borrow £30000 over 10 years at a rate of 12.228% p.a. (variable) you will repay £477.81 per month & total amount payable £57,337.20.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
High LTV secured loan
Secured80%£7,500£60,00012.41%
3
years
25
years
Representative Example: The Representative APR is 15.9% (variable) so if you borrow £30000 over 10 years at a rate of 12.408% p.a. (variable) you will repay £481.27 per month & total amount payable £57,752.40.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE mild adverse secured loan
Secured75%£5,000£50,00012.5%
1
year
20
years
Representative Example: The Representative APR is 20.57% (variable) so if you borrow £10000 over 5 years at a rate of 12.5% p.a. (variable) you will repay £258.61 per month & total amount payable £15,516.91.
You must be a homeowner to apply as this loan will be secured against your home.
Prestige Finance
 
Secured loan for thoses with mild adverse credit
Secured70%£10,000£100,00012.5%
3
years
25
years
Representative Example: The Representative APR is 16.15% (variable) so if you borrow £20000 over 10 years at a rate of 12.5% p.a. (variable) you will repay £323.49 per month & total amount payable £38,818.80.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Great rate for thoses with a fair credit-rating
Secured70%£7,500£60,00012.67%
3
years
25
years
Representative Example: The Representative APR is 16.2% (variable) so if you borrow £20000 over 10 years at a rate of 12.672% p.a. (variable) you will repay £324.24 per month & total amount payable £38,908.80.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Large Light Adverse Secured Loan
Secured60%£50,001£500,00012.76%
3
years
30
years
Representative Example: The Representative APR is 14.3% (variable) so if you borrow £350000 over 25 years at a rate of 12.76% p.a. (variable) you will repay £4064.98 per month & total amount payable £1,219,494.00.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Part of the Principality Building Society Group
Secured85%£7,500£60,00012.77%
3
years
25
years
Representative Example: The Representative APR is 16.6% (variable) so if you borrow £30000 over 10 years at a rate of 12.768% p.a. (variable) you will repay £488.22 per month & total amount payable £58,586.40.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Bad Credit Loan from 12.9%
Secured60%£5,000£50,00012.9%
3
years
25
years
Representative Example: The Representative APR is 17.4% (variable) so if you borrow £25000 over 10 years at a rate of 12.9% p.a. (variable) you will repay £428.58 per month & total amount payable £51,429.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Mild adverse credit acceptable
Secured80%£7,500£50,00012.9%
5
years
20
years
Representative Example: The Representative APR is 17.6% (variable) so if you borrow £25000 over 10 years at a rate of 12.9% p.a. (variable) you will repay £423.78 per month & total amount payable £50,853.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Secured Loan specifically for Self Employed
Secured65%£7,500£30,00012.9%
5
years
15
years
Representative Example: The Representative APR is 18.9% (variable) so if you borrow £15000 over 10 years at a rate of 12.9% p.a. (variable) you will repay £264.65 per month & total amount payable £31,758.00.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Adverse credit acceptable
Secured65%£3,000£50,00012.99%
3
years
30
years
Representative Example: The Representative APR is 16.7% (variable) so if you borrow £30000 over 15 years at a rate of 12.99% p.a. (variable) you will repay £430.59 per month & total amount payable £77,506.20.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Large Medium Adverse Secured Loan
Secured55%£50,001£500,00013.76%
3
years
30
years
Representative Example: The Representative APR is 15.6% (variable) so if you borrow £250000 over 25 years at a rate of 13.76% p.a. (variable) you will repay £3115.07 per month & total amount payable £934,521.00.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Mild adverse BTL loan rates
Secured70%£5,000£75,00013.79%
3
years
30
years
Representative Example: The Representative APR is 17.4% (variable) so if you borrow £45000 over 15 years at a rate of 13.79% p.a. (variable) you will repay £666.28 per month & total amount payable £119,930.40.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE available in Northern Ireland
Secured65%£7,500£50,00013.9%
1
year
20
years
Representative Example: The Representative APR is 17.4% (variable) so if you borrow £30000 over 15 years at a rate of 13.9% p.a. (variable) you will repay £443.22 per month & total amount payable £79,779.60.
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance
Secured loan from one of the UK's oldest lenders
Secured75%£3,000£30,00013.9%
1
year
20
years
Representative Example: The Representative APR is 18.1% (variable) so if you borrow £15000 over 10 years at a rate of 13.9% p.a. (variable) you will repay £258.64 per month & total amount payable £31,036.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Mild Adverse Secured Loan from 13.9%
Secured75%£5,000£50,00013.9%
3
years
25
years
Representative Example: The Representative APR is 17.4% (variable) so if you borrow £25000 over 10 years at a rate of 13.9% p.a. (variable) you will repay £413.15 per month & total amount payable £49,578.00.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Low rate for Self Employed 13.9%
Secured70%£7,500£30,00013.9%
5
years
15
years
Representative Example: The Representative APR is 20.2% (variable) so if you borrow £15000 over 10 years at a rate of 13.9% p.a. (variable) you will repay £275.23 per month & total amount payable £33,027.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Buy To Let Product for Self Employed 13.9%
Secured60%£7,500£30,00013.9%
5
years
15
years
Representative Example: The Representative APR is 20.8% (variable) so if you borrow £15000 over 10 years at a rate of 13.9% p.a. (variable) you will repay £279.87 per month & total amount payable £33,584.40.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Specialist secured loan for buy to let properties
Secured70%£7,500£50,00013.9%
5
years
15
years
Representative Example: The Representative APR is 18% (variable) so if you borrow £30000 over 15 years at a rate of 13.9% p.a. (variable) you will repay £454.42 per month & total amount payable £81,795.60.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Small Loan 14.7% APR
Secured75%£3,000£10,00014%
3
years
15
years
Representative Example: The Representative APR is 20.5% (variable) so if you borrow £5000 over 5 years at a rate of 14% p.a. (variable) you will repay £129.15 per month & total amount payable £7,749.00.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE near prime secured loan to money.co.uk
Secured60%£5,000£30,00014%
1
year
20
years
Representative Example: The Representative APR is 18.87% (variable) so if you borrow £15000 over 10 years at a rate of 14% p.a. (variable) you will repay £264.65 per month & total amount payable £31,758.42.
You must be a homeowner to apply as this loan will be secured against your home.
Nemo Personal Finance
 
Nemo's highest equity secured loan
Secured90%£7,500£60,00014.00%
3
years
25
years
Representative Example: The Representative APR is 17.8% (variable) so if you borrow £30000 over 10 years at a rate of 14.004% p.a. (variable) you will repay £512.46 per month & total amount payable £61,495.20.
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance
Secured loan from one of the UK's oldest lenders
Secured70%£3,000£30,00014.9%
1
year
20
years
Representative Example: The Representative APR is 19.4% (variable) so if you borrow £15000 over 10 years at a rate of 14.9% p.a. (variable) you will repay £268.85 per month & total amount payable £32,262.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 14.9%
Secured90%£5,000£30,00014.9%
3
years
25
years
Representative Example: The Representative APR is 16.9% (variable) so if you borrow £15000 over 10 years at a rate of 14.9% p.a. (variable) you will repay £248.35 per month & total amount payable £29,802.00.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Step One's highest LTV secured loan
Secured85%£7,500£40,00014.9%
5
years
20
years
Representative Example: The Representative APR is 20.5% (variable) so if you borrow £20000 over 10 years at a rate of 14.9% p.a. (variable) you will repay £369.58 per month & total amount payable £44,349.60.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Low rate for Self Employed 14.9%
Secured75%£7,500£30,00014.9%
5
years
15
years
Representative Example: The Representative APR is 28.1% (variable) so if you borrow £10000 over 5 years at a rate of 14.9% p.a. (variable) you will repay £291.85 per month & total amount payable £17,511.00.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Large Heavy Adverse Secured Loan
Secured50%£25,001£500,00014.96%
3
years
30
years
Representative Example: The Representative APR is 17.3% (variable) so if you borrow £150000 over 20 years at a rate of 14.96% p.a. (variable) you will repay £2092.68 per month & total amount payable £502,243.20.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Secured loan for those with heavy adverse credit
Secured60%£3,000£30,00014.99%
3
years
30
years
Representative Example: The Representative APR is 21.1% (variable) so if you borrow £15000 over 10 years at a rate of 14.99% p.a. (variable) you will repay £274.57 per month & total amount payable £32,948.40.
You must be a homeowner to apply as this loan will be secured against your home.
Blemain Finance
Heavy adverse BTL loan rates
Secured60%£5,000£75,00014.99%
3
years
30
years
Representative Example: The Representative APR is 19.3% (variable) so if you borrow £40000 over 15 years at a rate of 14.99% p.a. (variable) you will repay £636.99 per month & total amount payable £114,658.20.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Large Loan 16.2% APR
Secured70%£10,001£50,00015%
5
years
25
years
Representative Example: The Representative APR is 18.8% (variable) so if you borrow £20000 over 10 years at a rate of 15% p.a. (variable) you will repay £351.71 per month & total amount payable £42,205.20.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE near prime secured loan to money.co.uk
Secured70%£5,000£30,00015%
1
year
20
years
Representative Example: The Representative APR is 20.14% (variable) so if you borrow £15000 over 10 years at a rate of 15% p.a. (variable) you will repay £275 per month & total amount payable £32,998.74.
You must be a homeowner to apply as this loan will be secured against your home.
Spring Finance
Secured loan for those with adverse credit
Secured65%£10,000£50,00015%
5
years
25
years
Representative Example: The Representative APR is 21.02% (variable) so if you borrow £15000 over 10 years at a rate of 15% p.a. (variable) you will repay £282.25 per month & total amount payable £33,870.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 15.4%
Secured80%£5,000£40,00015.4%
3
years
25
years
Representative Example: The Representative APR is 21.3% (variable) so if you borrow £15000 over 10 years at a rate of 15.4% p.a. (variable) you will repay £284.67 per month & total amount payable £34,160.40.
You must be a homeowner to apply as this loan will be secured against your home.
Central Trust Ltd
 
Small Loan 16.2% APR
Secured70%£3,000£10,00015.6%
3
years
15
years
Representative Example: The Representative APR is 22.5% (variable) so if you borrow £5000 over 5 years at a rate of 15.6% p.a. (variable) you will repay £133.79 per month & total amount payable £8,027.40.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE available in Northern Ireland
Secured75%£7,500£50,00015.9%
1
year
20
years
Representative Example: The Representative APR is 20.9% (variable) so if you borrow £20000 over 10 years at a rate of 15.9% p.a. (variable) you will repay £374.67 per month & total amount payable £44,960.40.
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance
Secured loan for those with adverse credit
Secured70%£3,000£30,00015.9%
1
year
20
years
Representative Example: The Representative APR is 20.6% (variable) so if you borrow £15000 over 10 years at a rate of 15.9% p.a. (variable) you will repay £279.12 per month & total amount payable £33,494.40.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Low rate for Self Employed 15.9%
Secured80%£7,500£30,00015.9%
5
years
15
years
Representative Example: The Representative APR is 29.4% (variable) so if you borrow £10000 over 5 years at a rate of 15.9% p.a. (variable) you will repay £298.34 per month & total amount payable £17,900.40.
You must be a homeowner to apply as this loan will be secured against your home.
Step One Finance
 
Buy To Let Product for Self Employed 15.9%
Secured70%£7,500£30,00015.9%
5
years
15
years
Representative Example: The Representative APR is 23.5% (variable) so if you borrow £15000 over 10 years at a rate of 15.9% p.a. (variable) you will repay £301.99 per month & total amount payable £36,238.80.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 16.4%
Secured85%£5,000£30,00016.4%
3
years
25
years
Representative Example: The Representative APR is 26.5% (variable) so if you borrow £10000 over 5 years at a rate of 16.4% p.a. (variable) you will repay £286.32 per month & total amount payable £17,179.20.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE high LTV secured loan
Secured85%£5,000£30,00016.9%
1
year
20
years
Representative Example: The Representative APR is 26.96% (variable) so if you borrow £7500 over 5 years at a rate of 16.9% p.a. (variable) you will repay £216.25 per month & total amount payable £12,974.61.
You must be a homeowner to apply as this loan will be secured against your home.
Norton Finance
Secured loan for those with adverse credit
Secured60%£3,000£30,00016.9%
1
year
20
years
Representative Example: The Representative APR is 24.7% (variable) so if you borrow £10000 over 5 years at a rate of 16.9% p.a. (variable) you will repay £277.6 per month & total amount payable £16,656.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Secured Loan from 17.3%
Secured95%£5,000£30,00017.3%
3
years
25
years
Representative Example: The Representative APR is 16.9% (variable) so if you borrow £15000 over 10 years at a rate of 17.3% p.a. (variable) you will repay £248.35 per month & total amount payable £29,802.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Fast Track Secured Loan
Secured80%£3,000£25,00017.9%
3
years
25
years
Representative Example: The Representative APR is 22.9% (variable) so if you borrow £10000 over 5 years at a rate of 17.9% p.a. (variable) you will repay £269.35 per month & total amount payable £16,161.00.
You must be a homeowner to apply as this loan will be secured against your home.
Clearly Loans
EXCLUSIVE mild adverse secured loan
Secured80%£5,000£30,00018%
1
year
20
years
Representative Example: The Representative APR is 28.44% (variable) so if you borrow £7500 over 5 years at a rate of 18% p.a. (variable) you will repay £221.43 per month & total amount payable £13,285.87.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
Fast Track Secured Loan
Secured85%£3,000£25,00018.9%
2.5
years
25
years
Representative Example: The Representative APR is 22% (variable) so if you borrow £15000 over 10 years at a rate of 18.9% p.a. (variable) you will repay £290.75 per month & total amount payable £34,890.00.
You must be a homeowner to apply as this loan will be secured against your home.
Shawbrook Bank
95% LTV Secured Loan
Secured95%£3,000£25,00021.9%
3
years
25
years
Representative Example: The Representative APR is 28% (variable) so if you borrow £10000 over 5 years at a rate of 21.9% p.a. (variable) you will repay £292.98 per month & total amount payable £17,578.80.
You must be a homeowner to apply as this loan will be secured against your home.
Equifinance
Secured loan for thoses with a poor credit rating
Secured65%£15,000£30,00023.4%
5
years
20
years
Representative Example: The Representative APR is 31.1% (variable) so if you borrow £20000 over 10 years at a rate of 23.4% p.a. (variable) you will repay £488.76 per month & total amount payable £58,651.20.
You must be a homeowner to apply as this loan will be secured against your home.
Equifinance
Secured loan for thoses with a poor credit rating
Secured70%£10,000£15,00023.4%
5
years
20
years
Representative Example: The Representative APR is 35.8% (variable) so if you borrow £10000 over 5 years at a rate of 23.4% p.a. (variable) you will repay £329.54 per month & total amount payable £19,772.40.
You must be a homeowner to apply as this loan will be secured against your home.
Equifinance
Secured loan for thoses with a poor credit rating
Secured75%£5,000£10,00023.4%
5
years
20
years
Representative Example: The Representative APR is 42.4% (variable) so if you borrow £5000 over 5 years at a rate of 23.4% p.a. (variable) you will repay £180.33 per month & total amount payable £10,819.80.
You must be a homeowner to apply as this loan will be secured against your home.
Evolution Money
Our highest equity secured loan
Secured120%£5,000£10,00030.6%
3
years
10
years
Representative Example: The Representative APR is 42.4% (variable) so if you borrow £7500 over 5 years at a rate of 30.6% p.a. (variable) you will repay £270.24 per month & total amount payable £16,214.40.
You must be a homeowner to apply as this loan will be secured against your home.
Evolution Money
No equity, no problem
Secured150%£3,000£6,00034.5%
3
years
5
years
Representative Example: The Representative APR is 49.2% (variable) so if you borrow £4500 over 4 years at a rate of 34.5% p.a. (variable) you will repay £191.19 per month & total amount payable £9,177.12.
You must be a homeowner to apply as this loan will be secured against your home.
Evolution Money
Unlimited equity loans up to £5,500
Secured150%£2,000£5,50042.6%
1.5
years
5
years
Representative Example: The Representative APR is 63% (variable) so if you borrow £3500 over 3 years at a rate of 42.6% p.a. (variable) you will repay £189.17 per month & total amount payable £6,810.12.
You must be a homeowner to apply as this loan will be secured against your home.
Evolution Money
Unlimited equity loan up to £3,000
Secured150%£1,000£3,00051.1%
1
year
3
years
Representative Example: The Representative APR is 82.5% (variable) so if you borrow £2000 over 2 years at a rate of 51.1% p.a. (variable) you will repay £146.96 per month & total amount payable £3,527.04.
You must be a homeowner to apply as this loan will be secured against your home.

Secured loans typical APR: 16.8% variable.

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Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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 Loans Explained

We explain all you need to know about taking out a secured loan.

Man Protecting Mini House

A lender who offers secured loans requires the borrower to provide some sort of guarantee for the loan.

In most cases this guarantee is made on the borrower's property which can be repossessed if regular repayments are not met: therefore it is usually only homeowners who are eligible to apply for secured personal loans.

First charge loans

Loans taken out against a property that is owned outright are called first charges and tend to be the cheapest secured loans. First charges are more attractive to loan providers as they have direct access to a property’s equity to recover their investment.

Second charge loans

Loans taken out against a property with an outstanding amount left on the mortgage are known as second charges.

With second charge loans the mortgage company have first claim on any equity released and only then will the loan company be able to recover funds they are owed, if loan repayments aren’t met.

Because of this you might have to pay higher interest rates on a second charge loan as the insurer tries to protect its investment.

How much can you get?

The amount available on a secured loan tends to be larger than that offered through an unsecured channel; this is because the lender has a guarantee that one way or another they will be able to reclaim their funds.

Loan amounts may be anything up to 125% of the value of the secured property. The most common amounts tend to be between £3,000 and £100,000, although a higher sum may be possible.

Some loan providers offer their best secured loans targeted at different levels of borrowing, so the cheapest secured loans for you will vary depending on the amount you want to borrow.

What are the interest rates on secured loans?

The interest rate applied to a secured loan is dependent on the amount borrowed, the value of the property against which the loan is secured and the personal circumstances and credit history of the borrower.

Although secured loans for bad credit are likely to have higher interest rates, secured loan companies (especially those who specialise in bad credit loans) are still willing to lend to individuals who fall into this category.

This also applies to others who may find it difficult to obtain unsecured credit including the self employed and those who work on a contract basis.

Before committing to a secured loan it is important to compare the secured loan rates advertised by lenders so that you can get the cheapest secured loans.

It is important to bear in mind that the typical APR advertised may not be the rate applied to your loan. However it does give you some indication of the spread of interest rates they offer and so the amount you may be eligible for.

Repayment protection

Most secured loan companies offer the option of payment protection to be taken with the loan. This insurance is designed to cover the loan repayments for a certain period of time if you are unable to work due to accident, sickness or unemployment.

Although this comes at an added expense, it can be worthwhile especially if you do not have any other means of paying the monthly amounts: your home is likely to be at risk if you don't meet the repayments.

However you need to consider whether you need this very carefully, particularly due to past Payment Protection Insurance (PPI) mis-selling. Take a look at our guide, Do You Really Need Payment Protection Insurance? to find out more.

Restrictions

The majority of secured loan companies do not place restrictions on what the borrowed funds can be used for (providing it is for legal purposes), so whether you want to consolidate your existing commitments or refurbish your home, a secured loan can be a good option.

However, before committing to a secured loan make sure the monthly payments offered are manageable within your income budget.

If you compare administration fees and interest rates offered, you can be confident of choosing the cheap secured loans that match your needs.

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