Use our free secured loan calculator to get instant estimates based on your borrowing needs. Enter your property value, loan amount, and preferred term to see your potential monthly payments, total repayable amount, and interest charges.
Compare rates from our panel of 50+ specialist lenders. Get realistic estimates without affecting your credit score. Perfect for debt consolidation, home improvements, or major purchases.
Your exact monthly payment amount based on current market rates
Total amount you'll repay including all interest charges
How much interest you'll pay over your chosen loan term
Your loan-to-value (LTV) ratio and available equity
Realistic rate estimates based on your credit profile
Completely free to use. No credit check. Instant results. No obligation.
A secured loan allows you to borrow £10,000-£500,000 using your home as security. Because your property backs the loan, lenders typically offer larger borrowing amounts, longer repayment terms (3-30 years), and more competitive interest rates compared to unsecured loans.
Secured loans are commonly used for home improvements, debt consolidation, or major purchases. They're also known as homeowner loans or second charge mortgages because they use your property as security alongside your existing mortgage.
Important: Your home may be repossessed if you do not keep up with loan repayments. This isn't just small print - it's a genuine risk that requires careful consideration before proceeding.
Use our calculator below to estimate your monthly payments and understand the total cost of borrowing.
Getting an accurate estimate takes just 2 minutes. Here's how to make the most of our calculator to understand your borrowing options.
Before you start, you'll need a few key details about your property and existing mortgage. To qualify for a secured loan, you must be a homeowner.
Property value: Use a recent estate agent valuation or check similar properties in your area on Rightmove or Zoopla. The Land Registry shows recent sale prices for properties near you. Most lenders will require a professional valuation, but your own estimate is fine for initial calculations.
Outstanding mortgage balance: Check your latest mortgage statement or online banking app. You need the current balance, not your original loan amount. If you have multiple mortgages on the property (such as a second charge mortgage already in place), add these together.
Available equity: This is your property value minus all outstanding mortgages. For example, if your home is worth £300,000 and you owe £180,000, you have £120,000 in equity. Most lenders will let you borrow up to 85% of your equity.
Loan amount: Enter how much you need to borrow. Secured loans typically range from £10,000 to £500,000, though most borrowers take between £25,000 and £75,000. Be realistic about what you actually need.
Loan term: Choose how long you want to repay the loan over. Terms typically range from 3 to 30 years. Longer terms mean lower monthly payments but more interest paid overall.
Credit profile: Select the option that best describes your credit history. This helps the calculator estimate the interest rate you're likely to receive.
Once you've entered your details, the calculator instantly shows your estimated monthly payment, total repayable amount, total interest charges, and loan-to-value ratio.
The calculator provides a representative example, including the representative APR, to help you understand typical loan costs. The annual percentage rate (APR) includes both the interest rate and any additional fees, giving you a clearer picture of the total cost of borrowing.
Can your household budget comfortably cover the monthly payment? Does the total cost represent good value for your purposes?
Don't settle for your first calculation. Try adjusting the variables to see how small changes impact costs. Test different loan amounts, various term lengths, and see how rate changes affect your affordability. The calculator lets you run unlimited scenarios until you find the right balance.
Understanding the factors behind your results helps you get the most accurate estimates and identify ways to improve your borrowing position.
The amount you can borrow is primarily limited by your available equity. Lenders typically allow borrowing up to 85% loan-to-value, though your exact limit depends on several factors.
If your property is worth £280,000 with a £165,000 outstanding mortgage, you have £115,000 in equity. At 85% LTV, you could theoretically borrow up to £73,000. However, affordability assessments may cap your borrowing below this equity-based maximum.
Your chosen repayment period dramatically affects both monthly payments and total costs. A £50,000 loan at 7.5% APR looks very different over 10 years versus 25 years:
The trade-off is clear: longer terms ease immediate cash flow pressure but cost significantly more over time.
Your credit history is the primary driver of the interest rate you'll receive. Lenders price secured loans based on perceived risk and review your borrowing history to assess your overall financial profile.
Credit Profile Rate Ranges:
For a £50,000 loan over 15 years, the difference between excellent and poor credit could mean paying an extra £200+ monthly and £36,000+ in additional interest over the term. It's worth spending 6-12 months improving your credit before applying if you're on the borderline.
Interest rates fluctuate based on the Bank of England base rate and wider economic conditions. While we can't predict future changes, understanding current trends helps you time your application.
Secured loans typically offer lower interest rates than personal loans or unsecured loans because they're backed by your property. Our calculator uses current market rates updated regularly, but your actual rate depends on individual lender assessment of your application. Rates shown are representative examples, not guaranteed offers.
While the calculator doesn't explicitly request this information, property characteristics affect lender decisions. Standard properties (houses, flats, bungalows in good condition) qualify for the widest range of lenders and best rates. Non-standard construction may face limited lender choice and higher rates.
Beyond your monthly repayments, budget for these upfront costs when arranging a secured loan. Understanding the full cost picture helps you make an informed decision and avoid unwelcome surprises.
Covers the service of finding and arranging the best loan options for your specific situation. Typically charged as a percentage of your loan amount, usually 1-2%. For a £50,000 loan, expect to pay £500-£1,000 in broker fees. At Money Saving Advisors, we're transparent about our fees upfront.
Also known as an arrangement fee or product fee, this covers the lender's administrative costs. Usually ranges from £300-£1,500 depending on the lender and loan size. Some lenders allow you to add this to the loan amount, though you'll pay interest on it over the term.
Most lenders require a professional valuation to confirm your property's current value. Costs typically range from £100-£500 depending on your property value and location. This is separate from any estate agent valuation you may have obtained.
You'll need a solicitor to handle the legal work and register the charge against your property. Legal fees typically fall between £500-£2,000, depending on the complexity of your loan and property situation.
For a £50,000 secured loan, your total setup costs might look like this:
Calculator Tip: Consider adding your estimated setup costs to your loan amount in the calculator. If you need £50,000 for home improvements, calculate £52,800 to ensure you borrow enough to cover all costs.
The numbers the calculator shows tell an important story about your borrowing. Here's how to interpret what you're seeing.
Your monthly payment represents the amount leaving your bank account every month for the duration of the loan term. This needs to fit comfortably within your household budget alongside all other commitments.
Lenders assess affordability by examining your income versus outgoings, typically allowing secured loan payments up to 40-45% of net monthly income when combined with your mortgage.
Example: Sarah earns £3,200 monthly after tax. Her mortgage payment is £850. A secured loan payment of £450 brings her total housing costs to £1,300 (41% of income), which sits within typical lender criteria. A payment of £650 would push her to 47%, likely resulting in declined applications.
This figure shows every penny you'll pay back - your original borrowing plus all interest charges. The difference between your loan amount and total repayable reveals the true cost of the finance.
A £50,000 loan over 25 years at 9% APR costs £419 monthly but £125,700 total - meaning you pay £75,700 in interest. Reducing the term to 15 years increases monthly payments to £507 but cuts total interest to £41,260, saving £34,440.
The total interest line isolates exactly how much the borrowing costs beyond repaying the principal. This helps you evaluate whether the loan represents good value for your purposes.
Interest rate vs APR: The interest rate is the annual rate charged on your loan amount. The APR (Annual Percentage Rate) includes both the interest rate and any mandatory fees, giving you the true cost of borrowing. Always compare APRs when evaluating different loan offers.
For debt consolidation: If you're paying 18-29% APR on credit cards, consolidating into a secured loan at 8-11% APR typically makes financial sense despite the longer term.
For home improvements: Compare the interest cost against the value added to your property. If a £30,000 extension costs £12,000 in interest but adds £50,000 to your property value, that's still a net gain.
Your LTV percentage shows how much debt you'd owe against your property value if this loan is approved. This combines your existing mortgage and the new secured loan.
Lenders typically restrict secured lending to 85% LTV for excellent credit, 80% for good credit, and 75% for adverse credit. Lower LTVs generally access better rates because you have more equity cushion protecting the lender.
Before proceeding with a secured loan, understand what you're putting on the line. Your property becomes security for the loan, which means serious consequences if things go wrong.
The lender holds a legal charge over your property. If you cannot keep up with repayments, the lender has legal rights to repossess your home and sell it to recover the borrowed funds. This isn't just fine print - it's a genuine risk that affects thousands of homeowners each year.
Consider your job security, income stability, and whether you could still afford payments if circumstances changed (illness, reduced income, unexpected expenses).
While paying off debt early might feel financially liberating, many secured loans come with early repayment charges (ERCs) that can wipe out the money you'd save. These penalties typically apply during an initial fixed-rate period and can be substantial - often 1-5% of the outstanding balance.
Always check your loan agreement for ERC details before making overpayments or refinancing. Calculate whether the penalty outweighs the interest saving.
If you choose a loan with a variable interest rate, your monthly payments could increase if rates rise. This could stretch your budget in ways you hadn't planned for. The Bank of England base rate directly influences variable secured loan rates.
Fixed-rate periods provide payment certainty but often come with higher rates initially. Consider whether you prefer guaranteed payments or the flexibility (and risk) of variable rates.
While using our calculator doesn't affect your credit score, applying for a secured loan will. Multiple applications in a short period can harm your credit profile. If your credit history isn't perfect, you'll still likely qualify for a secured loan, but expect to pay higher interest rates, which increases your overall borrowing costs.
Secured loans typically run for 5-25 years. This is a long-term financial commitment that ties up your property's equity. Ensure you're comfortable with the commitment and understand how it affects your financial flexibility.
The real power of any calculator lies in comparing multiple scenarios to find your optimal borrowing strategy.
Scenario
Monthly Payment
Total Repayable
Total Interest
£40,000 over 10 years
£477
£57,240
£17,240
£40,000 over 15 years
£377
£67,860
£27,860
£40,000 over 20 years
£331
£79,440
£39,440
£40,000 over 25 years
£306
£91,800
£51,800
Looking at this table, the 15-year term emerges as the sweet spot - reasonable monthly payment without the excessive interest of longer terms. The £46 monthly saving dropping to 20 years costs £11,580 in additional interest.
Start by calculating your initial target amount, then test amounts 20% above and below. You might discover that borrowing £35,000 instead of £45,000 brings monthly payments from £380 to £295 - potentially the difference between comfortable and stretched.
Test your preferred loan amount across 10, 15, 20, and 25-year terms. Find the longest term you can afford comfortably, then choose one step shorter. If 20 years feels manageable, the 15-year term likely saves £15,000-25,000 in interest for just £50-80 more monthly.
Calculate your preferred scenario at rates 1% and 2% higher than shown - this stress-tests whether you can still afford the loan if you don't qualify for the best rates. Build in rate cushion by ensuring you can afford payments even at rates 2-3% higher than expected.
Even with a straightforward tool, certain errors lead to unrealistic expectations or poor decisions.
Use conservative property value estimates based on similar recent sales in your area, not optimistic estate agent marketing valuations.
If you already have a second charge mortgage or additional secured borrowing, this must be included in your outstanding mortgage balance calculation.
The lowest monthly payment often carries the highest total cost. Consider the complete picture: monthly affordability, total cost, and value received.
Running just one calculation gives you a number, not a strategy. Borrowers who test 5-10 combinations typically find better options.
Calculator results show estimated rates based on typical market pricing. Your actual rate depends on full lender assessment.
Getting your estimated figures is just the first step. Here's what to do with the information.
Look at your monthly payment estimate and ask yourself honestly: "Can we comfortably afford this amount every month for the next X years?" Consider potential changes and whether the payment remains manageable. If there's hesitation, adjust your borrowing amount or term until you reach comfortable numbers.
Calculator estimates are based on typical rates. For precise figures, you need formal quotes from actual lenders. A broker accesses multiple lenders through one application process. At Money Saving Advisors, we compare offers from 50+ specialist secured loan lenders.
Before proceeding with any application, reflect on whether this borrowing serves your overall financial goals. For debt consolidation, calculate whether consolidating saves substantial monthly outgoings and reduces total interest paid.
If calculator results show higher rates due to credit profile, consider spending 3-6 months improving your credit before applying. Register on the electoral roll, correct credit report errors, pay down existing balances below 30% of limits.
Once you secure your loan, set yourself up for success:
You can use the calculator again to test more scenarios, get formal quotes from lenders through a broker, or speak with an expert to discuss your specific situation. No obligation at any stage.
Yes, our secured loan calculator is completely free with no hidden charges or obligations. You can run unlimited calculations to explore different scenarios without providing any personal information or affecting your credit score.
No. The calculator works with anonymous financial information only - property value, mortgage balance, loan amount, and term length. We don't ask for your name, address, contact details, or any personally identifiable information.
Absolutely not. The calculator is a purely mathematical tool that doesn't access your credit report, report to credit agencies, or trigger any credit checks. Only when you proceed to formal application will any credit report access occur.
The calculator uses current market rate data to provide realistic estimates based on typical lending criteria. However, your actual rate depends on full lender assessment including detailed credit report review, complete income analysis, property valuation, and specific lender criteria.
Yes, you can print your results directly from your browser or save them as a PDF for later reference. This is particularly useful when comparing multiple scenarios or discussing options with family members.
If the calculator shows monthly payments that stretch your budget uncomfortably, you have several options: reduce the loan amount to lower payments, extend the term length to spread costs over more years, work on improving your credit profile to access better rates, or consider whether secured lending is the right solution.
This reflects the cost of borrowing over time. The difference between your loan amount and total repayable is your interest charges. For a £50,000 loan at 8% APR over 15 years, you'd repay approximately £71,640 total (£50,000 principal plus £21,640 interest).
The calculator estimates rates based on the credit profile you select (excellent, good, fair, or poor). Each category corresponds to typical rate ranges lenders offer for those credit profiles. Excellent credit accesses the most competitive rates (5-7% APR typically), while poor credit faces higher rates (14-18% APR typically).
For secured loans, LTVs below 75% are considered conservative and typically access the most competitive rates. LTVs between 75-85% are standard for most lenders. Above 85% LTV, you'll face limited lender choice and higher rates.
Review your results carefully, considering whether the monthly payment fits comfortably within your budget and whether the total cost represents good value for your purposes. If the figures work for you, the next step is obtaining formal quotes from lenders.
Formal quotes require complete application forms with full financial information, consent for credit checks, income verification, and often property valuation. You can apply directly to lenders or work with a broker who accesses multiple lenders through one application.
No. The calculator shows what's theoretically possible based on equity, typical rates, and standard lending criteria. Actual approval depends on complete lender assessment including credit history, affordability analysis, property condition and type, employment status, and specific lender criteria.
Calculator results are estimates based on current market conditions and are most accurate when used immediately for planning purposes. Interest rates and lending criteria change over time, so results from several months ago should be recalculated before making decisions.
The calculator provides estimates for typical scenarios but may not accurately reflect specialist lending for complex situations. If you have adverse credit, are self-employed, have a non-standard property, or face other complications, speak with a broker experienced in specialist secured lending.
Yes. You can run multiple calculations selecting different credit profiles to see how your rate (and therefore monthly payment and total cost) changes. This helps you understand whether improving your credit score before applying would save substantial money.
Since 2015, we've helped over 15,000 UK homeowners secure the finance they need through challenging circumstances. Our customers typically choose us because:
We're broker experts, not sales people: Our team focuses on finding the right solution for your situation, not pushing the highest-commission product. We take time to understand your circumstances and objectives before recommending anything.
Complex cases are our speciality: Whether you have adverse credit, are self-employed, own a non-standard property, or face other complications, we have lenders who'll consider your application. We've successfully navigated thousands of challenging applications.
We do the heavy lifting: Rather than approaching multiple lenders individually, we access 50+ lenders through one application process, saving you time and multiple credit checks. We handle all the paperwork and coordination.
We're with you throughout: From initial calculation through to completion and beyond, we guide you through every stage of the secured loan process. You'll have a dedicated specialist who knows your case inside and out.
Your property may be repossessed if you do not keep up repayments on a secured loan.
Money Saving Advisors is a trading name of MoreDemand Ltd, an independent secured loan broker. We are not a lender. We work with a panel of specialist secured loan lenders and receive commission upon successful completion of loans arranged through our service. This commission does not affect the interest rate or charges you pay.
The information provided in this article and calculator is for guidance purposes only and should not be considered financial advice. Your actual rate, terms, and approval depend on full lender assessment of your individual circumstances.
This calculator provides estimates based on typical lending criteria and current market rates. Results are not guaranteed offers and your actual borrowing costs may differ based on lender assessment.
‘’Secured loans may be a good option if you need to borrow a large amount of money and have a home to use as collateral. They often come with lower interest rates, making them useful for things like debt consolidation or home improvements.”
We make secured loans easier with detailed guides that walk you through every step.
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