Yes, if you are a homeowner and have bad credit some lenders could offer you a secured loan.

To get a secured loan with poor credit you will still need to be credit checked, but if you use a broker they can give you an indication of whether your application will be accepted before you apply.

You may be able to get a secured loan even if you have:

  • Mortgage arrears

  • County Court Judgements (CCJs)

  • Other missed repayments

Getting the right secured loan

You need to find a loan that:

  • Lets you borrow the amount of money you need

  • Gives you enough time to pay back what you owe

  • Will accept your application even if you have bad credit

  • Has the lowest interest rate you can find

To get the best secured loan if you have bad credit, speak with a qualified broker.

Most lenders no longer offer loans directly to borrowers, instead working with brokers.

A good broker will assess your circumstances before you apply, including any credit problems, and help you find a suitable loan that meets your needs.

Before you apply

It is worth checking your credit record is accurate and up to date before you look at bad credit secured loans, even if you know you have had issues in the past.

It is also worth writing a budget, so you know exactly how much you can afford to pay towards any new loan. This can reduce the chances of missing any payments in the future.

Secured loans for bad credit FAQs


Do I have to pass a credit check to get a secured loan?


Yes, but some brokers offer a soft search so you can check if you could get the loan before you apply without it appearing on your credit record.


How long does it take to get a secured loan?


It is normally around two weeks from your application being submitted to the money being transferred to your account.


How much can I borrow with a secured loan?


This will depend on your property value and income, but secured loans can be for anywhere between 1,000 and 2.5 million.


Do I have to be a homeowner to a get a secured loan?


Not always, the vast majority of secured loans are only available to homeowners, but some will let you secure the loan on other assets e.g. a car.


Who will value my property?


The lender will arrange for a valuation from a Chartered Surveyor as part of your application, but you will normally have to pay a fee for this.

About our loans comparison


Who do we include in this comparison?


We include secured loans available directly from lenders and through brokers on our panel. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.


How do we make money from our comparison?


We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.