• >
  • Loans>
  • Secured debt consolidation loans

Compare secured debt consolidation loans

You could consolidate your debt into a secured loan, also known as a second charge mortgage, and make just one repayment each month.

  • Consolidate debt payments to simplify your finances
  • View terms, rates and repayments
  • Our service is simple, reliable, and free of charge

Compare secured debt consolidation loans from leading providers

Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

Pepper Money logo

How to compare secured debt consolidation loans


Work out how much you need

Work out the amount of debt you have and the rates you're being charged. Then calculate how much you could afford to pay each month and how long you would need to repay the amount you borrow.


Compare debt consolidation loans

Look at different debt consolidation loan deals. Terms and repayments can vary between providers so check any conditions attached to the loan then pick a deal that offers the lowest interest rate.


Apply for the loan

Once you've decided on the provider and deal you want, simply apply. You'll have to provide you name and contact details, as well as some details about your finances.

Secured debt consolidation loan deals

Think carefully before securing other debts against your home. You home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

186 results found, sorted by lowest total amount payable. How we order our comparisons.
Change the amount you are looking to borrow to see what offer you can get

Overall representative example

Based on borrowing£18,000 over 120 monthsThe overall cost of comparison9.1% APRC representative
Borrowing rate6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71Broker fee£1,530
Lender fee£495Total amount payable£26,945.40 comprised of a loan amount of £18,000 and interest of £6,920.40

What is a secured debt consolidation loan?

A secured debt consolidation loan is similar to a mortgage in that it is a loan secured against your property. But the money you borrow is used to pay off accumulated debt.

How do secured debt consolidation loans work?

As mentioned earlier, these loans are secured against your property, but the money you borrow is used to pay off other debts you may have accumulated. This could be credit card debt, a loan or an overdraft.

This way you can pay off all your other debts and then pay off the debt consolidation loan with a single fixed monthly payment.

How to find the best secured debt consolidation loan

A low interest rate will help you save money when looking for a secured loan for debt consolidation, but you should also consider:

  • How much you need to borrow

  • How long you need to repay the loan

  • Which asset you want to borrow against

Read more about whether you should you consolidate your debts?

Work out what you need

To calculate this:

Work out the total amount you owe 

Add up all your debt from credit cards, overdrafts, loans etc.

Work out much you repay every month 

Add up each monthly repayment to get the total amount you spend on debt repayments.

Check the term of each debt 

Find out how long you have left to pay them off. You can do this by checking your statements or by contacting the lenders.

This can help you work out:

  • How much you need to borrow to pay off your debts.

  • How long it will currently take to clear your debts so you choose a suitable loan term

  • How much you repay each month, so you can make sure you can afford any new loan you choose

  • How much interest you are paying so you can find a cheaper rate

This comparison shows the minimum and maximum loan amounts available.

Deciding what to borrow against

Most lenders will only lend against your property but some may accept valuables like jewellery.

Check the loan to value (LTV) matches what you need. The LTV is how much you can borrow in relation to the value of your asset.

For example a £125,000 loan against your house that is worth £250,000 would have a 50% LTV.

This comparison shows the maximum LTV that companies are willing to lend against.

Should I independent advice about debt consolidation loans?

Securing a loan against your home is not a decision to take lightly. So if you need help, getting impartial advice from an FCA approved independent financial adviser can be useful.

Here is how you can find an independent financial adviser.

Pros and cons of debt consolidation

  • You could receive a lower rate.

  • You’ll have just one monthly payment.

  • You could get out of debt faster.

  • You could build your credit.

  • You may not qualify for a low rate.

  • Missed payments could make things worse.

  • It doesn't address root issues with debt.

  • Often, you end up paying more in interest overall

Compare secured debt consolidation loans FAQs

Explore more loans guides

See more guides

A beginner's guide to loans

Exactly what is a loan? What can you use it for and how do you get one? Find answers to all your questions about loans here.

Read More
The word loan is spelt over four wooden blocs, with two male figurines placed next to them.

How to borrow money with bad credit

You can get a personal loan with bad credit, but the rates will likely be high. It can be harder to get a loan with bad credit, and it may be worth trying to improve your score before you apply for a loan.

Read More

How your credit record affects the loan you get

Your credit record has a big impact on the type of loan you can get and how much it will cost. Here is how your credit history affects your loan application and what you can do about it.

Read More
Keys with house

Should you borrow against your home?

Should you borrow against your house? Find out if taking out a secured loan against your home is sensible or something to avoid.

Read More

Should you get an overdraft, credit card or loan?

Choosing the right way to borrow money can make it cheaper and easier to manage. Here is when you should use a credit card, loan or overdraft.

Read More
Weighing scales with a pile of receipts on one side in the air and a piggy bank on the other weighing it down

What happens if you are unable to pay back your loan?

When you miss a payment on your loan, you'll be charged a fee. You may be issued with a County Court Judgement or have to declare yourself bankrupt if you continue to miss payments.

Read More

Why compare loans with money.co.uk?

Comparing loans could help you save money. Our award-winning loan comparison service makes sure you get our best interest rates. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

Proud to be award winning

We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

stevie award
WMA 2021 Logo-768x632
nba logo
logo dma
ecommerce awards

Last updated: 30 March, 2022