Loan Logics secured loans review

This Loan Logics secured loans review covers ratings, eligibility, likely costs, and how the application process works, so you can decide whether it's the right lender for your circumstances.

Loan Logics is a specialist UK secured loan lender based in Cornwall, known for its manual underwriting approach and flexible lending decisions. As a privately funded lender, it operates independently from the traditional banks, which allows it to consider individual circumstances more holistically. If you've been turned down elsewhere because of credit issues, Loan Logics could be worth considering - it doesn't credit score applicants, and instead has a real person assess every application.

Before looking at Loan Logics specifically, it's worth understanding what you're actually applying for. A secured loan uses your property as security for the borrowing. If you don't keep up repayments, the lender can ultimately repossess your home to recover their money.

Secured loans sit as a “second charge” on your property, behind your main mortgage. That's why you'll also hear them called second charge mortgages, homeowner loans, or home equity loans. The key difference from your first mortgage is that the secured loan lender only gets paid after your main mortgage lender if your home is sold.

How borrowing against your home works

Your available borrowing depends on your equity - the portion of your home you own outright. If your property is worth £300,000 and you owe £200,000 on your mortgage, you have £100,000 in equity. Lenders typically allow you to borrow a percentage of this equity, with most secured loan providers offering between 75% and 95% loan-to-value (LTV).

Example: James owns a property worth £280,000 with a mortgage of £180,000, giving him £100,000 equity. At 85% LTV, he could potentially borrow up to £58,000 as a secured loan (£280,000 x 85% = £238,000, minus his £180,000 mortgage = £58,000 available).

Why people choose secured loans

Secured loans typically offer larger amounts than personal loans - often £10,000 to £500,000+ depending on the lender. They also tend to come with lower rates than unsecured borrowing because the lender has security. Common uses include:

• Home improvements and extensions
• Consolidating multiple debts into one payment
• Large purchases or investments
• Business funding
• School fees or education costs

The critical risk to understand

Carefully consider the risks and your ability to repay before taking out a secured loan. Your home is at risk if you can't keep up the repayments. This isn't just small print - it's the fundamental trade-off with secured lending. The lower rates and higher amounts come with genuine consequences if things go wrong.

Loan Logics is a privately funded specialist lender focused exclusively on second charge mortgages. Based in Penryn, Cornwall, it has built its reputation on doing things differently from the big banks and automated lenders. Loan Logics is one of several companies in the UK market offering specialist secured loans.

Loan Logics works through a dedicated network of brokers who guide clients through the application process. As a lender authorised by the Financial Conduct Authority, Loan Logics and similar companies are required by law to act within regulatory frameworks and treat customers fairly, including handling complaints reasonably and preventing discrimination or unfair practices.

Company background

Loan Logics Limited is incorporated in England and Wales, with its registered office in London. Its principal place of business, where the team actually operates from, is Waterside Court, Falmouth Road, Penryn, Cornwall.

The company is authorised and regulated by the Financial Conduct Authority. It's registered as a mortgage lender that exclusively offers its own second charge mortgage products - meaning it lends its own money rather than acting as a broker searching multiple lenders.

What makes Loan Logics different

The standout feature is its approach to underwriting. In its own words: “No one likes to be told by a computer that your loan has not been approved - that's why we don't use them to make our lending decisions and we won't credit score you either.”

Instead, a real person manually reviews every application, considering your full circumstances - both the good and the “not so good”, as Loan Logics puts it. If you've had a financial hiccup in the past that's caused automated systems to decline you, Loan Logics may be more willing to look beyond that single issue.

Being privately funded also gives Loan Logics flexibility. Unlike lenders tied to bank funding or strict institutional requirements, it isn't constrained by the same rigid criteria that larger lenders must follow.

Regulation and security

Loan Logics holds full authorisation from the Financial Conduct Authority, which means it's required to follow strict rules around responsible lending, treating customers fairly, and handling complaints. You're protected by the Financial Ombudsman Service if something goes wrong, and the Financial Services Compensation Scheme provides a safety net in certain circumstances.

Loan Logics focuses solely on second charge mortgages, which keeps its operation streamlined and specialised. This focus allows Loan Logics to offer a simple, easy-to-understand process for customers.

Loan Logics fixes your rate for the entire loan term, rather than reverting to a variable rate after a few years like many lenders. You'll know exactly what you're paying each month from start to finish, with no surprises when a fixed period ends. It's also genuinely unusual in not charging any early repayment charges. Most lenders charge a penalty if you pay off your loan early, typically a percentage of the outstanding balance. Loan Logics lets you make extra payments at any time, for any amount, without penalty, and it actively encourages overpaying to help reduce the interest you pay over the loan term.

Specific loan details

Loan Logics doesn't publicly advertise detailed rate information or specific borrowing criteria on its website. This is common among specialist lenders who prefer to assess each case individually rather than publish headline rates that may not apply to everyone. What we know from its approach:

• Loans arranged through its dedicated broker network
• Manual underwriting on every application
• Individual assessment of circumstances
• Fixed rates throughout the term

To get specific figures for your situation, you'll need to apply through a broker who works with Loan Logics. The broker can submit your details and get a personalised indication of what's available. Working with a broker can increase your chances of approval, since brokers can submit your application to multiple lenders at once, saving you time and widening your options.

Loan Logics positions itself as a lender for people who might struggle elsewhere. Its manual underwriting approach means it can consider applications that automated systems would reject.

Likely eligibility criteria

While Loan Logics doesn't publish detailed criteria, second charge mortgage lenders typically require:

Property requirements:

• UK property (usually England, Wales, or Scotland)
• An existing first charge mortgage in place
• Sufficient equity after existing borrowing
• Standard construction (some lenders exclude non-standard builds)

Personal requirements:

• UK residency
• Property ownership with a mortgage
• Demonstrable income to support repayments
• An affordability assessment passed

Who Loan Logics may help

Applicants with credit issues: its manual review means past problems don't automatically disqualify you. A default from three years ago, a satisfied debt judgment, or a period of missed payments might be viewed in context rather than as an automatic decline.

Self-employed borrowers: complex income situations benefit from human assessment. If your income doesn't fit neatly into standard boxes, a manual underwriter can interpret your accounts and circumstances.

Those declined elsewhere: if automated systems have said no, Loan Logics' approach offers a genuine alternative. It's explicit about being there to help even if you've struggled in the past to obtain a loan.

Borrowers wanting certainty: fixed rates for the full term and no early repayment charges suit people who want predictable payments with the flexibility to clear the debt early.

Who may want to look elsewhere

Rate-sensitive borrowers: without published rates, you can't easily compare Loan Logics to competitors. If getting the lowest possible rate is your priority, it's worth speaking to an advisor who can access a wide range of lenders.

Those wanting direct access: you must go through a broker with Loan Logics. If you'd prefer to deal directly with a lender, providers like Selina Finance accept direct applications.

Large loans or high LTV: specialist lenders like Pepper Money or Tandem may offer higher maximum amounts or LTV ratios for those needing to borrow more.

Your potential borrowing depends on three main factors: your property equity, your income, and your credit situation.

Understanding equity and LTV

Equity calculation: property value minus outstanding mortgage equals available equity.

Example: a property worth £350,000 with a £220,000 mortgage gives you £130,000 in equity.

The lender then applies its maximum LTV to determine borrowing limits. Most secured loan providers work within 75-95% combined LTV (your mortgage plus the new secured loan as a percentage of property value).

At 85% combined LTV on that example: £350,000 x 85% = £297,500 maximum combined borrowing. £297,500 minus the £220,000 existing mortgage leaves £77,500 as the potential secured loan.

Affordability matters more than equity

Having £100,000 in equity doesn't mean you can borrow £100,000. Lenders must assess affordability - whether you can actually afford the repayments alongside your other commitments.

Typical affordability factors:

• Your income (employed, self-employed, pension, or benefits)
• Existing mortgage payments
• Other debt repayments
• Living costs and regular outgoings
• Credit commitments

Example: if you have £80,000 available equity but a modest household income and existing debt commitments, those commitments could limit your borrowing well below what your equity alone would support.

How credit history affects amounts

With Loan Logics' manual approach, credit issues don't necessarily reduce how much you can borrow, but they might affect the rate you're offered. Someone with an excellent credit history might access a lower rate, while someone with past issues pays more for the same loan amount.

The key is whether you can demonstrate current affordability. A historic problem that's now resolved carries less weight than ongoing financial difficulties.

Loan Logics doesn't publish a rate card, so we can't give you exact figures for its secured loans. But understanding the typical cost structure helps you evaluate any quote you receive.

Interest rate context

Secured loan rates vary considerably from lender to lender and case to case, depending on:

• Your credit profile
• Your loan-to-value ratio (a lower LTV typically means a lower rate)
• Your loan amount and term
• The individual lender's pricing approach

Specialist lenders focusing on complex cases typically charge more than mainstream providers - you're paying for their willingness to consider applications others won't.

Setup costs to expect

Most secured loans involve upfront costs beyond the interest itself:

• Broker fees: typically £500-£2,000, or a percentage of the loan, for arranging the loan
• Lender arrangement fees: some lenders add an arrangement fee, typically £500-£1,500
• Valuation fees: the lender needs to value your property, usually £200-£500 depending on the property value
• Legal fees: registering the charge on your property typically costs £500-£1,000 in solicitor fees

Setup costs on a typical loan can easily run into a few thousand pounds before you've paid any interest.

Understanding the total cost

The headline rate only tells part of the story. Even a small difference in rate can add up to a significant amount over a 15 or 25-year term, because you're paying interest on the balance for much longer. When you get a quote, ask for the total amount repayable over the full term, not just the monthly payment, so you can compare offers on a like-for-like basis.

It's also worth asking whether a shorter term, even with higher monthly payments, would save you money overall. Spreading a loan over more years lowers the monthly cost but increases the total interest you pay, so it's worth shopping around for competitive terms, even alongside features like Loan Logics' lack of early repayment charges.

Since Loan Logics only works through brokers, here's what to expect when you apply. The process typically takes a matter of weeks from application to funds, though complex cases can take longer. Manual underwriting adds a little time compared to automated lenders, but it means a more thorough, individual assessment of your case.

Loan Logics operates as a relatively small specialist lender, which has both advantages and limitations for customer service. If you ever need to raise a complaint or service issue, keep detailed notes of your interactions, including dates, names, and the content of conversations, to support your case and keep communication clear.

Contact options:

• Phone: 01326 375505 (Monday to Friday, 9am-5pm)
• Email: lending@loanlogics.co.uk for new enquiries, or info@loanlogics.co.uk for general questions

Calls to and from Loan Logics are recorded for training, monitoring, and regulatory purposes.

For existing borrowers

If you already have a loan with Loan Logics, it provides a dedicated FAQ section on its website covering common questions, and its team is available during business hours for account queries.

For prospective borrowers

Because Loan Logics works through brokers, most pre-application questions should go to your broker rather than Loan Logics directly. The broker handles the customer relationship during the application process.

Service style

Loan Logics emphasises building relationships, describing its approach as making sure customers always speak with a friendly, helpful member of the team, so they get to know you a little better over time. This personal approach is part of its differentiation - you're not just a number in an automated system.

Advantages

• Manual underwriting: every application gets a human review. No computer says no without a person considering your circumstances - this matters hugely if you've got credit issues or a complex situation.
• No credit scoring: Loan Logics doesn't use automated credit scoring to make decisions, so your application isn't rejected because an algorithm decided your credit score was too low.
• Fixed rates for the full term: unlike lenders who fix for a few years then revert to variable, your rate stays the same throughout, so there's no worrying about future rate increases.
• No early repayment charges: pay off early without penalty, or make overpayments whenever you want. This flexibility is genuinely rare in secured lending.
• Over 25 years' experience: the team has deep knowledge of the secured loan market, which benefits both underwriting quality and customer service.
• Authorised and regulated: Loan Logics is authorised and regulated by the Financial Conduct Authority, giving you access to the Financial Ombudsman Service and Financial Services Compensation Scheme protection where applicable.

Disadvantages

• Broker-only access: you can't apply direct. This adds a layer between you and the lender, plus broker fees to your costs.
• Limited transparency: there are no published rates or detailed criteria, so you can't easily compare Loan Logics to competitors without getting a full quote.
• Smaller operation: as a privately funded specialist, it may not match the resources of larger lenders for technology, speed, or capacity.
• Geographic limitations: as a Cornwall-based team working standard business hours, accessibility isn't as extensive as some national providers with extended hours.
• Rate uncertainty: without published rates, it's hard to know if you're getting competitive pricing until late in the process.

Loan Logics offers an alternative to other lenders, especially for applicants who may not qualify elsewhere due to stricter criteria. Its manual, personalised process focuses on individual circumstances, while other lenders may rely more heavily on automated or standardised assessments. This can lead to a better outcome for people who need a flexible, personal approach.

Loan Logics vs Pepper Money

Pepper Money is one of the largest specialist secured loan lenders in the UK, having won Secured Loan Lender of the Year in 2024 and 2025. It offers higher maximum loan amounts and higher LTV than Loan Logics, and is also known for considering complex cases including adverse credit.

• Choose Loan Logics if: you want no early repayment charges and a rate that's fixed for the full loan term.
• Choose Pepper Money if: you need a larger loan, a higher LTV, or want the scale of a larger lender.

Loan Logics vs Selina Finance

Selina Finance offers secured loans with terms up to 30 years and publishes detailed eligibility criteria on its website. It accepts both direct and broker applications.

• Choose Loan Logics if: you've been declined elsewhere and need truly manual underwriting.
• Choose Selina Finance if: you want to apply direct or need a longer loan term.

Loan Logics vs Tandem

Tandem (formerly Oplo) offers very high LTV loans - up to 100% in some cases - and is particularly strong for adverse credit at high LTV.

• Choose Loan Logics if: flexibility on early repayment is your priority.
• Choose Tandem if: you need to borrow up to 100% LTV or want a lender that specialises in higher LTV adverse credit lending.

Before applying with any lender, including Loan Logics, it's important to understand these risks.

A secured loan adds another debt secured against your property. If your circumstances change - job loss, illness, or relationship breakdown - and you can't pay, the consequences are severe.

Before borrowing, consider:

• Could you afford payments if interest rates rose, even with a fixed rate loan?
• What if your income dropped significantly?
• Do you have emergency savings for unexpected costs?
• Are there cheaper alternatives, such as an unsecured loan or a remortgage?

Long-term cost

Spreading borrowing over a longer term, such as 20 or 25 years, keeps monthly payments lower but substantially increases the total interest you pay over the life of the loan. A shorter term means less total interest, but higher monthly payments - it's worth weighing up both when comparing offers.

Impact on future remortgaging

Having a second charge on your property can complicate future remortgaging. Some mortgage lenders won't accept applications where a secured loan exists, or will require it to be repaid on remortgage.

Fees add up

Setup costs of a few thousand pounds are common. If you're borrowing for a short period and then paying off early, these fees can represent a significant percentage of your borrowing.

Not all debt consolidation saves money

Consolidating high-interest debts into a lower-rate secured loan can look attractive on paper. But spreading repayment over many years can mean paying more total interest overall, despite the lower rate. It's worth running the full numbers before assuming consolidation will save you money.

If you're struggling with repayments

Contact your loan provider and explain your situation as soon as possible if you cannot afford your repayments. All lenders are obliged to treat you reasonably and help you resolve repayment issues. If you're struggling, your lender will send you an arrears notice and an information sheet from the Financial Conduct Authority to help you understand your options, and you can raise a complaint if you feel any action taken has been unreasonable.

If you're worried about debt or unsure where to turn, MoneyHelper offers free, independent guidance backed by the government. Call 0800 138 7777 or visit moneyhelper.org.uk.