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Secured Loans
Barclays doesn't offer a traditional secured loan. It offers a further advance on your existing mortgage, only available if you're already a Barclays customer. Here's what that means, and when a specialist lender might suit you better.
No, not in the traditional sense. Barclays doesn't offer a standalone secured loan (also known as a second charge mortgage) like specialist lenders do. What Barclays actually offers is a further advance, also called a mortgage top-up, which lets existing Barclays mortgage customers borrow more against their property by increasing their existing mortgage.
If your mortgage is with another lender, you can't access this product without remortgaging to Barclays first. In that case, a specialist secured loan provider offering a genuine second charge loan that sits behind your existing mortgage is usually the better route.
Not sure if Barclays is right for you
Speak to an advisor to see how a Barclays further advance stacks up against specialist secured loan options for your circumstances.
Barclays secured loans aren't quite what most people expect when they search for this term. Rather than a standalone secured loan, Barclays offers a further advance, additional borrowing added to your existing mortgage if you're already a Barclays customer. Here's our quick verdict before we get into the details.
Bottom line: if you already have a Barclays mortgage, their further advance product can offer competitive terms and fixed monthly repayments, which help with predictable budgeting, backed by the security of a major high-street bank. But if you're not a Barclays customer, or you need more flexibility around credit history and income documentation, specialist secured loan providers will usually offer better options and higher acceptance rates.
Here's something that catches many people out: Barclays doesn't offer standalone secured loans in the traditional sense. When you search for "Barclays secured loans," what you'll actually find is their mortgage further advance product.
It's worth understanding the difference between secured and unsecured loans. Secured loans require collateral, such as your property, and typically offer lower interest rates, while unsecured loans don't require collateral and may suit smaller amounts or quicker access to funds. Secured loans can also be used for major purchases, such as home improvements, making them a flexible option for significant expenses. The value of your collateral can influence the amount and terms you're offered.
The difference matters because a traditional secured loan (also called a second charge mortgage or homeowner loan) is a separate loan secured against your property, sitting behind your existing mortgage. A further advance, by contrast, is additional borrowing added to your existing Barclays mortgage.
A Barclays further advance lets current mortgage customers borrow more money against their property. The key features include:
Borrowing limits: you can borrow up to 85% of your property's value in total, which includes your existing mortgage balance plus the new borrowing. For debt consolidation purposes, the maximum drops to 80% LTV.
Loan amounts: the minimum is £5,000, with no set maximum beyond the LTV limits. Your actual borrowing capacity depends on your equity and affordability assessment.
Rate options: Barclays offers both fixed and tracker rates. Fixed rates give you certainty over your payments for a set period, typically 2-5 years, while tracker rates follow the Bank of England base rate.
Repayment terms: you can match the term to your existing mortgage or set up a separate term for the additional borrowing. Barclays further advances typically offer fixed monthly repayments, helping you budget with predictable payments, and you may be able to select your preferred payment date.
Before looking deeper into Barclays' product, it helps to understand how secured borrowing works more broadly.
A secured loan uses your property as collateral. Collateral can also include business assets, vehicles, or other valuable assets. This gives the lender security, because if you can't repay, they have the legal right to repossess and sell your home or other collateral to recover what's owed. Using higher-value assets as security can support higher borrowing limits, as the value of your collateral affects how much a lender is willing to offer. This security means lenders can offer larger amounts and longer terms than unsecured borrowing typically allows.
There are two main types of secured borrowing against property:
First charge (your mortgage): this is the primary loan secured on your home. If you default and your property is sold, this lender gets paid first.
Second charge (secured loan): this sits behind your mortgage. The second charge lender only gets paid after the first charge is cleared. This higher risk for the lender typically means higher interest rates than a mortgage, but often lower than unsecured credit.
A Barclays further advance increases your first charge mortgage rather than adding a second charge. This can be simpler administratively, but it means changing your overall mortgage arrangement rather than keeping it separate.
Barclays traces its roots back to 1690, when two Quakers, John Freame and Thomas Gould, established themselves as goldsmith bankers in Lombard Street, London. The Barclay name joined the business in 1736, when James Barclay became a partner. Today, Barclays is one of the UK's "Big Four" banks, with over 300 years of continuous operation. You can access personal loans and secured borrowing products, including further advances, through online banking or the Barclays app.
Barclays has been central to UK banking innovation, launching the UK's first credit card (Barclaycard) in 1966 and installing the world's first cash machine in Enfield in 1967. In 2000, they acquired the Woolwich Building Society, which remains their mortgage brand for many products.
Barclays Bank UK PLC is authorised and regulated by both the Prudential Regulation Authority and the Financial Conduct Authority. Your eligible deposits are protected up to £120,000 by the Financial Services Compensation Scheme.
For mortgage products specifically, Barclays operates under Financial Conduct Authority mortgage conduct rules, meaning they must assess affordability properly and ensure products are suitable for your circumstances.
To apply for a Barclays further advance, you must:
Be an existing Barclays mortgage customer: this is the fundamental requirement. If your mortgage is with another lender, you can't access this product without first remortgaging to Barclays.
Have sufficient equity: your total borrowing (existing mortgage plus new funds) can't exceed 85% of your property's value. For debt consolidation, this drops to 80%.
Meet affordability criteria: Barclays will assess whether you can afford the increased payments based on your income, existing commitments, and their stress-testing requirements.
Pass credit checks: while having an existing Barclays mortgage helps, they'll still run credit checks and may decline if your financial circumstances have changed significantly since you took out your mortgage.
Own an acceptable property: standard UK residential properties are accepted. Non-standard construction, properties with restrictive covenants, or properties in certain conditions may be excluded.
Barclays runs a fresh affordability assessment on your whole mortgage balance, not just the new borrowing. Even if you comfortably afford your current payments, adding £30,000-£40,000 on top can be enough to fail their stress test if your income has changed since you last applied.
Barclays accepts further advance applications for various purposes:
Home improvements: extensions, renovations, new kitchens or bathrooms, and general property upgrades. Many customers use this option because improvements can add value to the property.
Debt consolidation: combining higher-interest debts into your mortgage borrowing. This can reduce monthly outgoings, but remember you're spreading the cost over a longer period and securing previously unsecured debts against your home.
Large purchases: major expenditures like vehicles, weddings, or other significant costs.
Education costs: funding university fees or other educational expenses.
Other purposes: generally flexible, though Barclays may ask about your intended use during the application.
Barclays further advance rates are tied to their current mortgage product range. The exact rate you're offered depends on your loan-to-value ratio, whether you choose a fixed or tracker rate, the term length, and current market conditions. Speak to an advisor for up-to-date figures.
The advantage for existing customers is that legal fees are minimal because you're not switching lenders, and valuations may be waived or discounted depending on your loan-to-value and when you last had a valuation.
This is where things get interesting. Barclays' offering has clear strengths for certain borrowers, but the specialist secured loan market often provides better solutions for other situations. Unlike unsecured loans, secured loans require collateral, which typically allows for higher borrowing limits and more flexible terms. Specialist lenders may also offer quicker approval processes and fund transfers once approved, making them a strong alternative for borrowers seeking larger amounts or more adaptable repayment options.
A Barclays further advance is worth considering if several factors line up in your favour.
Example: Sarah has a Barclays mortgage with £150,000 outstanding on a property worth £350,000. She wants £40,000 for a home extension. Her total borrowing would be £190,000, giving her a 54% loan-to-value, well within Barclays' limits. With her steady income and clean credit, she'd likely be a strong candidate for a further advance.
Is it right for you?
Payments on a further advance can be spread over a long term, sometimes up to 40 years, which can make monthly repayments more manageable. Borrowing over a longer period means paying more in total interest overall, so it's worth thinking carefully about the term you choose and speaking to an advisor about what fits your circumstances.
Specialist secured loan providers often serve you better if:
Your mortgage isn't with Barclays: you'd need to remortgage entirely to access Barclays' further advance, which might not make sense if you have a competitive rate elsewhere or would face early repayment charges.
You have adverse credit: specialist lenders such as Pepper Money, Evolution Money, and others specifically cater to borrowers with credit issues. They'll consider past difficulties, defaults, or poor credit more flexibly than high-street banks.
You need higher LTV: some specialist lenders offer up to 95% LTV, compared to Barclays' 85% cap.
You're self-employed with complex income: specialists often take a more pragmatic view of self-employed income, looking at shorter trading histories or using different income calculation methods.
You want to keep your mortgage separate: a second charge loan sits behind your existing mortgage, so your primary mortgage terms remain unchanged. This matters if you have a particularly good mortgage rate you don't want to affect.
Some providers also offer unsecured loans, which don't require collateral but usually come with less favourable terms compared to secured loans. Understanding the specific loan terms, including repayment flexibility and borrowing conditions, is important when comparing your options.
Example: David has a mortgage with another lender on a competitive fixed rate until 2027. He needs £30,000 but doesn't want to disturb his existing mortgage deal. A specialist secured loan lets him borrow the funds without touching his first charge mortgage.
Applying for a Barclays further advance follows a structured process across four main stages, from an initial eligibility check through to receiving your funds.
How it works
Check your eligibility
Before applying, you can check whether you might qualify through Barclays' online portal or by calling their existing customer line. They'll review your current mortgage details and give an indication of what might be possible. You'll typically be asked about your current mortgage balance, your property's estimated value, how much additional borrowing you need, and your current income situation.
Formal application
If initial checks look positive, you'll complete a full application. This involves verifying your income (payslips and a P60 if you're employed, or SA302 tax calculations and tax year overviews for the last two to three years if you're self-employed), providing property information, and a full credit check, which will leave a footprint on your credit file. Barclays will also carry out an affordability assessment, including stress-testing against potential interest rate rises.
Underwriting
Your application goes to Barclays' underwriting team, who review your circumstances and borrowing history, verify the information provided, and arrange a valuation of your property to confirm it as collateral. They look closely at your debt-to-income ratio, your equity position, your credit history, and how stable your income and employment look.
Offer and completion
If approved, Barclays issues a mortgage offer detailing the terms, along with a loan agreement covering the interest rate, monthly repayments, and repayment terms. Because you're adding to an existing Barclays mortgage, the legal process is more streamlined than a new mortgage or remortgage. Once you accept the offer, funds are typically released within a few days of completion.
Understanding the full cost of secured borrowing is important before you commit. A Barclays further advance typically comes with fixed monthly repayments for the duration of your chosen rate period, which makes budgeting more predictable. There's no minimum repayment period, so you can repay early if you want to, though early repayment charges may apply during a fixed-rate period (see the risks section below).
The overall cost of your further advance depends on several factors: the interest rate you're offered (based on your circumstances and the amount you borrow), any arrangement or product fees (which can often be added to your loan), the term you choose, and whether you make any overpayments. Speak to an advisor for a personalised illustration based on your circumstances. Published rate examples become outdated quickly and won't reflect what you'd actually be offered.
As a general principle, the longer you spread your borrowing, the lower your monthly repayments but the more interest you pay overall. Borrowing over the shortest term you can comfortably afford will keep your total cost down.
Secured lending carries real risks that you need to understand before proceeding. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. It's worth speaking to an advisor to make sure any secured borrowing is suitable for your circumstances and fits your wider financial goals.
This is the most serious consideration. A secured loan uses your home as collateral. If you fall behind on payments and can't catch up, the lender has the legal right to repossess and sell your property.
Before taking any secured borrowing:
Barclays' fixed-rate products typically carry early repayment charges during the fixed period. These can be substantial, typically 1-5% of the outstanding balance.
If you might want to remortgage within the fixed period, sell your property, or pay off the loan early, factor these charges into your decision. Products without early repayment charges exist but often carry higher rates.
If you choose a tracker product, or once a fixed rate ends and reverts to a standard variable rate, your payments can change in line with movements in the Bank of England base rate. Always stress-test your affordability: could you still comfortably manage your repayments if interest rates increased significantly?
A further advance increases your first charge mortgage balance. While monthly payments on existing debts may reduce if you're consolidating, you're potentially paying interest over a longer period, securing previously unsecured debts against your home, and increasing your overall debt exposure. Make sure consolidation genuinely makes financial sense, not just cash flow sense.
Higher mortgage debt affects your loan-to-value ratio and debt-to-income position. This could limit your ability to remortgage competitively in future, your access to other credit products, and your flexibility if property values fall.
If you're worried about keeping up with repayments, or a decision like this feels like it's putting you under financial pressure, MoneyHelper offers free, independent guidance. You can call them on 0800 138 7777 or visit moneyhelper.org.uk.
Customer feedback on Barclays' service is mixed, based on Trustpilot reviews and wider industry feedback. Common themes include:
Barclays has over 15,000 reviews on Trustpilot with mixed overall sentiment. Many customers report positive experiences once connected with helpful staff, but getting to that point can take time.
Once you have a Barclays mortgage, including a further advance, you can manage it through the Barclays app for balance checks and payment management, online banking for detailed statements and overpayments, phone support for changes to arrangements, and annual statements sent automatically. You can typically make overpayments of up to 10% of your balance per year without incurring early repayment charges.
Competitive rates for good credit: if you have clean credit and meet their criteria, Barclays' rates can compete with, or beat, many specialist secured loan providers.
Established high-street bank security: with over 300 years of history and full Financial Conduct Authority and Prudential Regulation Authority regulation, Barclays offers the reassurance of dealing with a well-known institution. Some borrowers prefer this to smaller specialist lenders.
Streamlined process for existing customers: because you're already a Barclays mortgage customer, there's no need to switch lenders, legal processes are simplified, and they already hold much of your information on file.
Single monthly payment: your further advance combines with your existing mortgage into one payment, simplifying money management compared to having separate mortgage and secured loan payments.
Flexible rate options: choice between fixed rates (payment certainty) and tracker rates (potential for lower costs if rates fall) gives you control over how you structure the borrowing.
Only for existing Barclays customers: this is the biggest limitation. If your mortgage is elsewhere, you can't access this product without remortgaging entirely to Barclays first.
Standard high-street criteria: Barclays applies typical mainstream lending standards. If you have credit issues, irregular income, or non-standard circumstances, you'll likely face difficulties that specialist lenders could solve.
Lower maximum LTV than specialists: the 85% cap (80% for consolidation) is more restrictive than specialists offering up to 95% LTV. If you need to borrow a higher proportion of your property value, Barclays won't be an option.
Changes your existing mortgage: unlike a separate second charge loan, a further advance increases your first charge mortgage. If you have a particularly good rate locked in, disturbing that arrangement may not make sense.
Customer service challenges: while many customers report positive experiences, the consistent feedback about difficulty reaching advisors and automated systems can be frustrating, especially for complex queries.
Barclays' further advance isn't right for everyone. Here's who tends to benefit, and who's usually better served elsewhere.
Ideal candidates
Poor fit profiles
Your mortgage isn't with Barclays
A Barclays further advance simply isn't available without remortgaging everything to Barclays first. A standalone secured loan from a specialist usually makes more sense.
You have credit history challenges
Past defaults, missed payments, or other credit difficulties make approval with Barclays unlikely. Specialist adverse credit lenders are designed for exactly these situations.
You're self-employed with complex income
If your income comes from multiple sources, you've been trading for less than two years, or your accounts show variable profits, specialist lenders typically take a more flexible view than high-street banks.
You need high loan-to-value borrowing
If your existing mortgage plus the borrowing you need pushes you above 85% LTV, Barclays can't help. Some specialist lenders go up to 95% LTV.
Barclays' further advance product works well for a specific type of borrower: existing Barclays mortgage customers with clean credit, stable income, and modest LTV requirements. For these borrowers, competitive rates and streamlined processing make it a sensible option.
But the product's limitations are significant. Being restricted to existing customers rules out the majority of UK homeowners. Standard high-street criteria exclude those with credit challenges. And the 85% LTV cap is more restrictive than specialist alternatives.
For existing Barclays mortgage customers: if you meet their criteria, a further advance is worth considering. Get a quote and compare it against specialist secured loan options to see which suits your circumstances.
For everyone else: specialist secured loan providers will usually offer more suitable products. They can work with any existing mortgage, offer more flexible criteria, and can match or beat mainstream rates for straightforward cases.
We're a comparison service, not a lender. We connect you with specialists who compare a wide range of lenders to find a secured loan suited to your circumstances, whether that's with a high-street bank or a specialist provider.
When it comes to secured loans, we compare a wide range of providers to find options matched to your circumstances.
Use our secured loan calculator to see indicative amounts based on your circumstances. It takes a couple of minutes and doesn't involve a credit check.
We'll search across specialist lenders and mainstream providers to show you what's available for your specific situation.
Talk to an advisor who can explain your options, answer your questions, and guide you through the process, with no pressure to proceed.
Common questions
No. Barclays only offers secured borrowing against property through their further advance product, which requires an existing Barclays mortgage. If your mortgage is with another lender, you'd need to remortgage to Barclays first (which may not make sense depending on your current rate) or use a specialist secured loan provider who can arrange a second charge loan behind your existing mortgage.
Barclays doesn't publish minimum credit score requirements, but as a mainstream high-street bank, they apply standard criteria. Generally, you'll need a good to excellent credit history with no recent defaults, missed payments, or serious adverse marks. If your credit history isn't clean, specialist secured loan providers are more likely to approve your application.
The typical timeline is 3-6 weeks from application to funds being released. Existing customers often benefit from faster processing because Barclays already holds your information and may not need a physical property valuation for lower LTV requests. Complex cases or those requiring full valuations may take longer.
Yes, but early repayment charges typically apply during any fixed-rate period. These are usually 1-5% of the outstanding balance. Once you're past the fixed period on the standard variable rate, you can usually repay without penalty. Always check the specific terms of your product before committing if early repayment is likely.
Not quite. A further advance increases your existing first charge mortgage with Barclays. A traditional secured loan (or second charge mortgage) from a specialist provider is a separate loan that sits behind your existing mortgage. Both are secured against your property, but they're structured differently. The choice depends on your circumstances and whether you want to keep your primary mortgage unchanged.
Initial eligibility checks use a soft search, which doesn't appear on your credit file or affect your score. A full application triggers a hard search, which other lenders can see. Using a broker minimises hard searches, because we only move to a full application with lenders likely to accept you.
Yes, debt consolidation is an accepted purpose. But be aware that the maximum LTV for consolidation purposes is 80%, not the standard 85%. Also consider carefully whether consolidating unsecured debts into secured borrowing is the right choice. You may lower monthly payments, but you're extending the repayment period and putting your home at risk for debts that previously weren't secured.
If Barclays declines your further advance application, specialist secured loan lenders often approve applications that high-street banks decline. They have more flexible criteria for credit history, income documentation, and higher LTV requirements. Speaking with a specialist broker can help identify lenders likely to accept your application.
For borrowers who meet their criteria, Barclays' rates are generally competitive with, or slightly better than, many specialist secured loan providers, particularly those with strong credit and lower borrowing needs relative to their equity. But if you don't meet their criteria, the question becomes moot because you won't be approved. Speak to an advisor to compare current rates across the market.
Yes, you can apply for subsequent further advances, subject to equity availability and passing affordability assessments each time. Each application is assessed individually, and your changing circumstances will be reviewed.
Typical requirements include proof of income (payslips and P60 for employed applicants, or SA302s and tax year overviews for self-employed applicants), bank statements (typically 3 months), proof of ID and address, details of existing debts and commitments, and your property information, though your current details are usually already on file.
No. Barclays applies standard high-street lending criteria, which typically exclude applicants with significant adverse credit history. If you have credit challenges, specialist adverse credit lenders such as Pepper Money, Evolution Money, or others designed for this market will usually be more suitable.
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