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Compare secured loans
Borrow from £10,000 to £500,000 secured against your property. Your dedicated advisor searches across lenders to find a deal that fits your circumstances.
A secured loan lets you borrow money using your home as security. Because the lender has your property as collateral, you can typically borrow larger amounts (£10,000 to £500,000) at lower interest rates than unsecured personal loans, with repayment terms stretching up to 25 years.
The loan sits as a second charge on your property, behind your existing mortgage. You repay the loan in fixed monthly instalments over the agreed term. If you fall behind on repayments, the lender can apply to repossess your home to recover the debt.
Secured loans are commonly used for debt consolidation, home improvements, and large purchases. Eligibility depends on the equity in your property, your income, credit history, and existing commitments. Most lenders require you to own your home with a mortgage or own it outright, and will carry out a property valuation before approving the loan.
Sources: MoneyHelper.org.uk, Citizens Advice, Bank of England
Secured loans work by using your property as collateral for the borrowing. This gives the lender security, which is why secured loans typically offer larger amounts and longer repayment terms than unsecured alternatives. Here is how the process works from start to finish.
The whole process typically takes 2 to 4 weeks, though complex cases may take longer. Your advisor manages each step and keeps you updated throughout.
Secured loans are flexible borrowing. You can use the funds for almost any purpose, though some are more common than others. The right option depends on how much you need, how quickly you need it, and your financial situation.
One of the most popular uses for a secured loan is consolidating existing debts into a single monthly payment. If you have multiple credit cards, store cards, or personal loans, rolling them into one secured loan can simplify your finances and potentially reduce your total monthly outgoings. Bear in mind that extending the repayment term means you could pay more interest overall, even if the monthly payment is lower.
A secured loan can fund significant home improvement projects that add value to your property. Common projects include kitchen renovations, bathroom refurbishments, extensions, and loft conversions. Because you are investing back into the asset that secures the loan, this can be a practical way to fund larger projects.
If you need to borrow a substantial amount for a wedding, car, or other major expense, a secured loan lets you access larger sums than a personal loan typically allows. You can borrow up to £500,000 depending on your equity.
Some homeowners use a secured loan to pay off expensive car finance agreements, replacing a higher-rate hire purchase or PCP deal with a lower-rate secured loan. However, you are converting unsecured debt into debt secured against your home, so consider this carefully.
While dedicated business loans exist, some self-employed borrowers use a secured loan against their residential property to fund business investment. Speak to a secured loan advisor for self-employed borrowers to understand your options.
Secured loans come in several forms, each suited to different situations. The type you choose affects how much you can borrow, the rates available, and how the loan is structured.
| Type | How it works | Best for | Typical amount |
|---|---|---|---|
| Homeowner loan | A standard secured loan using your property as collateral. Fixed monthly repayments over 1 to 25 years. | General borrowing, home improvements, large purchases | £10,000 to £500,000 |
| Second charge mortgage | A second mortgage on your property, sitting behind your existing first charge. Often used for larger amounts. | Borrowing £25,000+ without remortgaging | £25,000 to £500,000 |
| Debt consolidation loan | A secured loan specifically structured to pay off existing debts and combine them into one monthly payment. | Multiple debts, credit card balances, store cards | £10,000 to £250,000 |
| Long-term secured loan | Extended repayment terms (15 to 25 years) for lower monthly payments. More interest paid overall. | Maximising affordability on larger amounts | £25,000 to £500,000 |
Not sure which type suits you? A secured loan advisor can assess your situation and recommend the right product. You can also compare options directly on our lender comparison table.
Secured loans involve several fees beyond the interest rate. Understanding the full cost helps you compare deals accurately and avoid surprises. Your advisor will explain all fees upfront before you commit to anything.
| Fee | What it covers | Who pays |
|---|---|---|
| Arrangement fee | The lender's charge for setting up the loan. Can sometimes be added to the loan balance. | You (to lender) |
| Valuation fee | A professional survey to confirm your property value and the equity available. | You (to surveyor) |
| Legal fees | A solicitor registers the second charge on your property with the Land Registry. | You (to solicitor) |
| Broker fee | If applicable, a fee for the advisor who arranged the loan. Not all brokers charge this. | You (to broker) |
| Early repayment charge | A penalty for paying off the loan before the agreed term ends. Not all loans have this. | You (to lender) |
Some lenders offer fee-free products where the arrangement and valuation costs are absorbed into the interest rate. Ask your advisor to compare the total cost of borrowing, including all fees, across different deals. For a full breakdown, read our guide to secured loan fees and charges.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
The biggest mistake I see is people comparing secured loans on the monthly payment alone. A loan with a lower monthly payment over 20 years will almost always cost more in total than a higher payment over 10 years. Always ask your advisor to show you the total amount repayable, not just the headline figure.
How much you can borrow with a secured loan depends on several factors. Lenders assess each application individually, but these are the main things they consider.
Most secured loans range from £10,000 to £500,000, with typical terms of 3 to 25 years. To see what you might qualify for, try our secured loan calculator or read our guide on how much you can borrow.
Secured Loans
Answer a few quick questions and your advisor will compare secured loan deals from a wide range of lenders.
A secured loan is a significant financial commitment. These practical steps can help you find a deal that works for your situation and avoid common pitfalls.
Step by step
Tell us about your situation
Complete a short online form or call 01302 591302. We ask about your property, income, and what you need the loan for. This does not affect your credit score.
Your advisor compares deals
A dedicated secured loan advisor searches across a range of lenders to find deals that match your circumstances, equity position, and borrowing needs.
Review your options
Your advisor presents the best deals they have found, explaining the interest rate, fees, monthly cost, and total amount repayable for each one.
Valuation and legal checks
Once you choose a deal, the lender arranges a property valuation and a solicitor handles the legal work to register the second charge on your property.
Receive your funds
After completion, the loan funds are transferred directly to your bank account. The whole process typically takes 2 to 4 weeks from application.
Compare
| Feature | Secured loan | Personal loan |
|---|---|---|
| Larger borrowing amounts | ||
| Lower interest rates | ||
| Longer repayment terms | ||
| No collateral needed | ||
| Faster to arrange | ||
| Less paperwork |
FAQs
A secured loan can be a good option if you need to borrow a large amount, have equity in your property, and can comfortably afford the repayments. However, your home is at risk if you fall behind on payments. Consider whether a personal loan, remortgage, or other option might suit your situation better. Speak to an advisor to compare your options.
Most lenders offer secured loans from £10,000 to £500,000. The exact amount depends on your property equity, income, credit history, and existing financial commitments. Use our secured loan calculator to get an estimate based on your circumstances.
Yes. Some lenders specialise in secured loans for people with adverse credit, including CCJs, defaults, and missed payments. Having equity in your property can offset a lower credit score, though you may face higher interest rates. An advisor can search lenders who accept your credit profile.
A secured loan adds a second charge behind your existing mortgage. A remortgage replaces your current mortgage entirely with a new, larger one. Remortgaging may offer lower rates but can trigger early repayment charges on your current deal. Read our full comparison in our guide to secured loan vs remortgage.
From application to receiving funds, a secured loan typically takes 2 to 4 weeks. This includes the property valuation, legal checks, and registration of the second charge. Complex cases or higher amounts may take longer.
If you fall behind on repayments, the lender can ultimately apply to repossess your home to recover the debt. Before this happens, most lenders will work with you to find a solution, such as a temporary payment reduction. Contact MoneyHelper (0800 138 7777) for independent advice if you are struggling.
Most secured loans allow early repayment, but some charge an early repayment fee. The amount varies by lender and how far into the term you are. Ask your advisor about early repayment terms before committing to a deal. Read our guide on paying off a loan early for more detail.
They are very similar. A second charge mortgage is a type of secured loan that sits behind your existing mortgage. The terms are often used interchangeably, though some lenders distinguish between them based on the loan amount or term length.
Applying for a secured loan involves a hard credit search, which temporarily affects your score. Once approved, making repayments on time can improve your credit rating over time. Missing payments will negatively affect your score and remain on your credit file for six years.
A secured loan uses your property as collateral, allowing you to borrow larger amounts at lower rates over longer terms. An unsecured personal loan does not require collateral but typically limits borrowing to £25,000 with shorter repayment periods. Read our full comparison of secured vs unsecured loans.
Yes. Most lenders accept self-employed applicants, though they typically require at least two years of accounts or tax returns. Some specialist lenders are more flexible with documentation requirements. An advisor experienced with self-employed borrowers can help you find suitable options.
Common fees include an arrangement fee from the lender, a property valuation fee, legal fees for registering the second charge, and potentially a broker fee. Some lenders offer fee-free products. Always compare the total cost of borrowing, including all fees, not just the interest rate.
Equity is the difference between your property value and your outstanding mortgage balance. Most lenders require a minimum amount of equity and cap the combined loan-to-value ratio. Try our LTV calculator or speak to an advisor to find out how much equity you have available.
A broker or advisor who searches across a range of lenders can often find deals you would not find going direct, particularly for larger amounts or complex circumstances. They handle the paperwork and negotiate with lenders on your behalf, saving you time and potentially money.
Resources
These organisations offer independent guidance if you need help with debt or financial decisions.
Government-backed money guidance service. Call 0800 138 7777 for help with debt, borrowing, and financial decisions.
Charity offering debt advice and management plans at no cost. Available online, by phone, or webchat.
Independent advice on debt, benefits, and consumer rights. Find your local office or use the online chat service.
Run by the Money Advice Trust. Call 0808 808 4000 for confidential debt advice, including help with secured loan repayments.
What our clients say
Absolutely excellent! I had been refused a mortgage at various places due to bad credit. Asked Simply for help. They got me a Decision in Principle within days and a full mortgage offer from a high street lender the following week! Excellent communication throughout. Worth every penny! Can’t thank these guys enough.
I have just received my Mortgage offer through Simply after being rejected by others. I had 6 defaults on my credit file. I still cant believe I am able to get an offer. Guys, before you give up please get in touch with Simply. A massive thank you to Aime and Kerry, they made this happen..
Fantastic service from everyone at Simply. I had bad credit in relation to a previous Debt Management Plan and thought getting a mortgage would be nigh on impossible. Not only have I received the offer from a High Street bank today but Simply made the whole process unbelievably easy and kept me well updated throughout.
Simply the Best!! After thinking that I will never get a mortgage because of my bad credit (CCJs, defaults etc) in the past, the team at Simply were amazing from start to finish (David,Jackie,Karen).
…after being turned away by my bank and 2 brokers, me and my husband had given up hope of being accepted for a mortgage (defaults on credit file). We thought we would give it one last try and give Simply a call… We first had contact with Lee who took all our details and within 24 hours had an agreement in principle.
We thought we had little hope of being able to obtain a mortgage with our complicated circumstances, which included defaults, ccjs and one of us having to gift the other a large deposit. We were listened to, given advice and kept up to date at every stage of the process… We would not have been able to get our mortgage without Simplys help.
I contacted Simply as a last resort and cringed when I admitted the defaults and CCJs that we had. At no point did they make us feel embarrassed and told us that if there was a solution out there they would find it. Low and behold, about a month after my first call, we have now received our mortgage offer.
…because I had paid my DMP off early directly to the creditors I would automatically be declined by the adverse lender… I came across Simply and Dan rang me back on a Friday evening. Within a few hours he’d got me a DIP with a high street lender at a much better rate so saved me a lot of money in the long run… Just got my offer through and I’m over the moon!
…we had heard no after no after no from mortgage companies, yet Lee at Simply went above and beyond and refused to give up until he had found us a mortgage. Happy to say we received our mortgage offer the other day and gladly accepted today… Would highly recommend to people struggling to find a high street mortgage lender due to bad credit.
Cannot recommend them highly enough. I approached 4 different mortgage brokers regards my adverse credit which included a DMP and defaults. They all said they were adverse credit specialists but then said they couldn’t help. I approached Adverse as a last ditch attempt after reading the trust pilot reviews.
Absolutely excellent! I had been refused a mortgage at various places due to bad credit. Asked Simply for help. They got me a Decision in Principle within days and a full mortgage offer from a high street lender the following week! Excellent communication throughout. Worth every penny! Can’t thank these guys enough.
I have just received my Mortgage offer through Simply after being rejected by others. I had 6 defaults on my credit file. I still cant believe I am able to get an offer. Guys, before you give up please get in touch with Simply. A massive thank you to Aime and Kerry, they made this happen..
Fantastic service from everyone at Simply. I had bad credit in relation to a previous Debt Management Plan and thought getting a mortgage would be nigh on impossible. Not only have I received the offer from a High Street bank today but Simply made the whole process unbelievably easy and kept me well updated throughout.
Simply the Best!! After thinking that I will never get a mortgage because of my bad credit (CCJs, defaults etc) in the past, the team at Simply were amazing from start to finish (David,Jackie,Karen).
…after being turned away by my bank and 2 brokers, me and my husband had given up hope of being accepted for a mortgage (defaults on credit file). We thought we would give it one last try and give Simply a call… We first had contact with Lee who took all our details and within 24 hours had an agreement in principle.
We thought we had little hope of being able to obtain a mortgage with our complicated circumstances, which included defaults, ccjs and one of us having to gift the other a large deposit. We were listened to, given advice and kept up to date at every stage of the process… We would not have been able to get our mortgage without Simplys help.
I contacted Simply as a last resort and cringed when I admitted the defaults and CCJs that we had. At no point did they make us feel embarrassed and told us that if there was a solution out there they would find it. Low and behold, about a month after my first call, we have now received our mortgage offer.
…because I had paid my DMP off early directly to the creditors I would automatically be declined by the adverse lender… I came across Simply and Dan rang me back on a Friday evening. Within a few hours he’d got me a DIP with a high street lender at a much better rate so saved me a lot of money in the long run… Just got my offer through and I’m over the moon!
…we had heard no after no after no from mortgage companies, yet Lee at Simply went above and beyond and refused to give up until he had found us a mortgage. Happy to say we received our mortgage offer the other day and gladly accepted today… Would highly recommend to people struggling to find a high street mortgage lender due to bad credit.
Cannot recommend them highly enough. I approached 4 different mortgage brokers regards my adverse credit which included a DMP and defaults. They all said they were adverse credit specialists but then said they couldn’t help. I approached Adverse as a last ditch attempt after reading the trust pilot reviews.
The first time we used them we had been paying into a debt management plan for years and had previously had a CCJ as our income had become unexpectedly reduced due to chronic illness… He gave us hope and allowed us to stop feeling ashamed and to be able to move on with our lives… They were highly efficient and professional throughout.
I’ve now been accepted for a mortgage with a hugely mainstream bank and with really good interest rates, despite having 3 CCJs for parking fines that went to the wrong house… I thought I wouldn’t get a mortgage until my credit history cleared up… but they got results in next to no time.
After being turned away by 3 of the big high street lenders due to my credit history I had given up hope. I then turned to simply for some advice and after an initial phone call and a few emails exchanging information i had myself a decision in principle! And the 1 week later i had bagged myself an official mortgage offer!
I had 2 defaults, 3 missed payments and all within 2-3 years so as you all aware this straight away becomes mission impossible to get mortgage however that is where you contact Simply and leave the rest to them as it will all happen. Almost 3 months later and I am to receive house keys this week!
Feeling dejected and defeated, we approached Simply as our very last hope of obtaining a mortgage… within 3 weeks, we have received our mortgage offer at a rate much lower than I was expecting (multiple defaults/late payments). We are forever grateful for the service Simply have provided and would encourage anybody else with a adverse credit history to give Simply a try.
Excellent, refused mortgage from everywhere else after recently coming out of a DMP with defaults and Alex found me a mortgage for our dream house. The hole process was stress free and we were updated every step of the way! Thank you so much to all at simply for making our long awaited house move become a reality! Highly recommend...
I had 1 CCJ, Payday Loan and miss Payment, I was rejected for Mortgage by one bank. I did a search for bad credit mortgage and come across Simply Mortgage Specialist. Excellent service I’m glad I spoke to Alex and the team at Simply Mortgage Specialist which they gave me good advice.
Amazing company. We were told by multiple brokers we wouldn’t be able to get a mortgage for years due to defaults on my partners credit file. Simply have managed to get us a mortgage with a high street bank and with a low interest rate. The Customer Service and response times is unbelievably good.
Found simply online after being rejected by two other brokers because of my and my partners CCJs. Reiss managed to get us agreed with a lender and was brilliant from start to finish. Everyone at simply knew their stuff and when there were any hiccups they were there to resolve them very quickly. Also a mention to Aaron and Karen who were super helpful.
I highly recommend Simply for people who have a past IVA and some credit defaults and are struggling to get a mortgage offer. Simply was able to get is a mortgage with a high street lender even though others brokers weren't able to! This was also for a shared ownership property. Well worth the fees they charge.
The first time we used them we had been paying into a debt management plan for years and had previously had a CCJ as our income had become unexpectedly reduced due to chronic illness… He gave us hope and allowed us to stop feeling ashamed and to be able to move on with our lives… They were highly efficient and professional throughout.
I’ve now been accepted for a mortgage with a hugely mainstream bank and with really good interest rates, despite having 3 CCJs for parking fines that went to the wrong house… I thought I wouldn’t get a mortgage until my credit history cleared up… but they got results in next to no time.
After being turned away by 3 of the big high street lenders due to my credit history I had given up hope. I then turned to simply for some advice and after an initial phone call and a few emails exchanging information i had myself a decision in principle! And the 1 week later i had bagged myself an official mortgage offer!
I had 2 defaults, 3 missed payments and all within 2-3 years so as you all aware this straight away becomes mission impossible to get mortgage however that is where you contact Simply and leave the rest to them as it will all happen. Almost 3 months later and I am to receive house keys this week!
Feeling dejected and defeated, we approached Simply as our very last hope of obtaining a mortgage… within 3 weeks, we have received our mortgage offer at a rate much lower than I was expecting (multiple defaults/late payments). We are forever grateful for the service Simply have provided and would encourage anybody else with a adverse credit history to give Simply a try.
Excellent, refused mortgage from everywhere else after recently coming out of a DMP with defaults and Alex found me a mortgage for our dream house. The hole process was stress free and we were updated every step of the way! Thank you so much to all at simply for making our long awaited house move become a reality! Highly recommend...
I had 1 CCJ, Payday Loan and miss Payment, I was rejected for Mortgage by one bank. I did a search for bad credit mortgage and come across Simply Mortgage Specialist. Excellent service I’m glad I spoke to Alex and the team at Simply Mortgage Specialist which they gave me good advice.
Amazing company. We were told by multiple brokers we wouldn’t be able to get a mortgage for years due to defaults on my partners credit file. Simply have managed to get us a mortgage with a high street bank and with a low interest rate. The Customer Service and response times is unbelievably good.
Found simply online after being rejected by two other brokers because of my and my partners CCJs. Reiss managed to get us agreed with a lender and was brilliant from start to finish. Everyone at simply knew their stuff and when there were any hiccups they were there to resolve them very quickly. Also a mention to Aaron and Karen who were super helpful.
I highly recommend Simply for people who have a past IVA and some credit defaults and are struggling to get a mortgage offer. Simply was able to get is a mortgage with a high street lender even though others brokers weren't able to! This was also for a shared ownership property. Well worth the fees they charge.
Secured Loans
Compare secured loan deals from a wide range of lenders. Your dedicated advisor handles the whole process for you.
