Helps to reduce your monthly outgoings
Credit cards, loans and other credit commitments could be consolidated into one affordable monthly repayment, potentially saving you £100's every month.
Lower monthly payments
Consolidate credit cards and loans
Average reduction in outgoings of over £600 per month for customers taking a debt consolidation loan in the last 12 months
How does it work?
Check eligibility
In just 60 minutes your advisor can check your eligibility for 100s of loans.
Get approved
Your advisor will handle all the paperwork for you and get your approval as soon as possible!
Receive funds
Get your money in as little as 14 days, with your advisor available for updates and questions.
Verified customer reviews
Our mission is to help millions of people make better financial decisions with unbiased advice from experts who truly care about you.
on Reviews.io
Excellent service
These guys were so helpful. Gave me great advice and helped me secure a loan at a great rate for my garage conversion. Would definitely recommend to friends and family.
Ben Young
Really helpful
These guys helped me get a loan at much better rates than what I was getting quoted with local brokers, thank you!
Jake Wilson
Really quick payout
Had a really good experience regarding arranging a secured loan. They introduced me to a great advisor. Thanks for the help.
Alex Pearce
No stress consolidation loan
For once a loan transaction without stress and complications. Very impressed and highly recommended.
Dana Huggins
Very helpful advice
Shortly after I spoke with Anna, she was also very helpful and made it effortless and a nice experience.
Tyler Elsworthy
Why use Money Saving Advisors?
We’re on a mission to help you save money on life's biggest financial decisions
The easiest process
You're busy with everyday life, so we've made our process as quick, simple and hassle-free as possible.
We save you money
We do the legwork to introduce you to partners with the best deals, so you can keep more of your money.
Rated Excellent 4.7/5
We’re here to help you make informed financial decisions and relentlessly hunt down money saving deals for you.
Overall representative example for
secured loans
Loan amount
Length of loan
Monthly repayment
£18,000
120 months
£227.38
Broker Fee
Lender Fee
Total amount repayable
£1,530
£495
£26,945.40
Borrowing £18000 over 120 months. 6.5% fixed for 60 months with installments of £227.38. Followed by 60 months at the lenders standard variable rate of 4.95% with instalments of £227.71. Broker fee (£1,530); Lender fee (£495). Total repayable of £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee and Lender fee. Overall cost comparison 9.1% APRC.
Frequently Asked Questions
What are secured loans?
Secured loans, also known as homeowner loans or second-charge mortgages, allow homeowners with an existing mortgage to borrow money using their property as security (also called 'collateral'). This type of personal loan typically allows borrowers to access larger sums of money, often being used for significant expenditures, like consolidating large debts or renovating property. As the loan is secured against the value of your property, it means that if you do not keep up with loan repayments, the lender may decide to sell your property in order to recover the borrowed funds.
What can secured loans be used for?
Home Improvement: Many homeowners use secured loans to fund renovations, extensions, or repairs to their property, which can increase the value and improve living conditions.
Debt Consolidation: Secured loans can help consolidate multiple high-interest debts into a single loan with a potentially lower interest rate, making repayments more manageable.
Property Purchase: Mortgages are a common form of secured loan used to buy residential or investment properties. The property itself serves as collateral.Vehicle Purchase: Secured loans can finance the purchase of cars, vans, or other vehicles, with the vehicle itself often acting as collateral.
Business Funding: Entrepreneurs may use secured loans to finance business ventures, including purchasing equipment, expanding operations, or covering startup costs and tax bills.
How much can I borrow and how long for?
The amount you can borrow with a secured loan and the repayment term can vary based on several factors, including the value of the collateral, your credit history, income, and the lender's policies.
What are the benefits of a secured loan over a personal loan?
Secured loans can be cheaper, allow you to borrow more, and be easier to get approved for, but they do put your collateral at risk if you fail to repay the loan.
1. Lower Interest Rates: Secured loans usually have lower interest rates because they are backed by collateral, reducing the lender's risk.
2. Higher Borrowing Limits: You can often borrow more money with a secured loan since the loan is guaranteed by an asset.
3. Longer Repayment Terms: Secured loans typically offer longer repayment periods, which can make monthly payments more manageable.
4. Easier Approval: It's generally easier to get approved for a secured loan, even if you have a lower credit score, because the loan is backed by collateral.
Will getting a quote impact my credit score?
Getting a quote for a secured loan does not impact your credit score. Lenders perform a "soft" credit check to give you an idea of the rates and terms you might qualify for. Soft credit checks do not affect your credit score and are not visible to other lenders.
A "hard" credit check is only performed when you officially apply for the loan. Hard checks can impact your credit score slightly and are visible to other lenders.
How do I get a secured loan?
Begin by looking into the secured loans available. Compare what banks, online lenders or secured loan providers are offering, taking particular interest in their rates, terms, and eligibility requirements to find the best fit for you.
You would then complete a secured loan quote form there. You'll be asked for details on yourself and your finances including employment history, income, expenses, and the purpose of the loan. The quote, includes a soft credit search that does not impact your credit score but allows advisors to check your eligibility for offers.
Can I apply for a secured loan if I have bad credit?
We have a selection of secured loan lenders who offer loans if you have a bad credit history and if you make your payments on time, you can improve your credit score. Some of our lenders also accept CCJs and defaults, even if they’ve occurred in the last 12 months.
Secured loans are secured against your property. Before you apply for a secured loan, be aware that your home is used as security. This means your home may be at risk if you fall behind with your secured loan or mortgage repayments.
