Where to get a secured loan?
Find the right lender for your needs, goals, and credit story.
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Your Guide to Secured Loan Providers
You've decided a secured loan could be the right move - but where exactly do you go to get one? The good news is, you've got more options than you might think. From traditional high street banks to modern specialist lenders, the UK market has a wide range of providers catering all kinds of needs. The trick is knowing where to look - and how to apply.
Which UK banks offer secured loans?
Some names are familiar - others might be completely new to you. Here's a breakdown of where you can go:
- High street banks - Barclays, NatWest, Santander, and the other top names all offer secured loans, often as mortgage top-ups or "second-charge" mortgages - and sometimes only to existing customers. They tend to favour applicants with strong credit and a good repayment track record.
- Building societies - Providers like Leeds Building Society or Skipton may offer secured borrowing options, but again, most visibly to existing customers topping-up their mortgage.
- Challenger banks - Think of names like Shawbrook Bank, Together Money, or Masthaven. These lenders specialise in secured loan flexibility, catering to people with irregular incomes, credit blips, or complex needs.
- Specialist providers - These companies focus solely on secured loans. They're ideal if you've been turned down elsewhere or need something fast.
- Broker-only lenders - Some of the most competitive deals are only accessible through regulated brokers, not directly. This route can open up more personalised options.
Tip: Many lenders won't advertise secured loan products openly. They may only appear once you speak to a broker or submit an eligibility check.
How to apply for a secured loan
Whether you go direct or through a broker - with the right prep, you can speed things up and increase your chances of approval:
- Know your equity - You'll need to own a property with enough value above your current mortgage.
- Check your credit file - Even if it's not perfect, knowing what's on it can help you choose a lender.
- Gather documents - Most lenders want proof of income, a recent mortgage statement, and ID.
- Compare lenders - A broker can help you avoid wasting time with lenders who might say no.
- Expect a valuation - Your home may be valued, especially if you're borrowing a large amount.
- Affordability checks - Lenders will dig into your income and outgoings to be sure you can repay.
Tip: Remember that lenders like to see a firm loan amount and a clear purpose: home improvements, debt consolidation, etc.
Summing up
Where you get your secured loan matters just as much as how much you borrow. From traditional banks to specialist lenders, the right match depends on your financial profile, how fast you need the money, and how flexible the terms need to be. One size doesn't fit all - so shop smart.
Frequently Asked Questions: Secured Loans
Can I get a secured loan with bad credit?
Yes - in fact, many specialist lenders in the UK offer secured loans specifically for people with less-than-perfect credit histories. Because the loan is secured against your property, lenders are often more willing to look past things like missed payments, defaults, or CCJs - especially if those issues were in the past and you can now show stable income and affordability. Working with a broker can help.
Do I have to go through a broker?
Not always - but it can make things easier, especially if your situation isn't straightforward. Some lenders work exclusively with brokers, so you won't find their products on price comparison sites or even on their own websites. Brokers can assess your credit profile, income, and equity position to find lenders more likely to approve your loan - and at competitive rates.
How long does it take to get the money?
The timeline can vary widely depending on your situation, the lender, and how quickly you provide documents. The process can take 2 to 4 weeks from application to completion, but if your case is straightforward and the property valuation is done quickly, some lenders offer fast-track services that can release funds in as little as a few days.
Will I lose my home if I miss payments?
It's a possibility - but only in the most serious cases. Because a secured loan is tied to your property, the lender has the legal right to repossess your home if you fail to repay and don't engage with them. But repossession is considered a last resort, not a first step. Most lenders will contact you if you fall behind and offer options. If you're struggling, talk to them early - burying your head in the sand can make things worse.
Are interest rates better than unsecured loans?
Usually, yes - especially if you're borrowing a large amount or spreading the repayments over many years. Because secured loans are backed by your property, lenders take on less risk, which often translates to lower interest rates compared to unsecured personal loans or credit cards. But lower rates don't mean lower risk. You're putting your home on the line, so be sure the loan is affordable long-term.
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The details shown are for illustration only and may not include all lenders or products. Actual rates and terms depend on your circumstances and the lender’s assessment. Information was correct at publication but may change at any time.
