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Secured Loans
Loans Warehouse is one of the UK's longest-running secured loan brokers. We look at their fees, eligibility criteria, and application process to help you decide if they're the right fit for your circumstances.
Loans Warehouse is a well-established secured loan broker known for strong customer service, though its fees tend to sit at the higher end of the market. Founded in 2006, the company compares options from over 50 lenders and has built a reputation for helping people with complex circumstances, including poor credit, arrears, and self-employment.
Loans Warehouse tends to suit homeowners who want guidance through a complex application and don't mind paying a little more for it. If keeping fees to a minimum is your main priority, it's worth comparing alternatives before you commit.
Loans Warehouse is one of the UK's most established secured loan brokers, with nearly two decades of experience helping homeowners borrow against their property. They've won more than 30 industry awards since 2016, including Secured Loan Broker of the Year, and hold a 5-star rating on Trustpilot from over 900 customer reviews.
But awards and ratings don't tell the whole story. In this review of Loans Warehouse secured loans, we look at their fees, eligibility criteria, and application process to help you decide if they're the right choice, or whether there might be a better fit for your situation.
Overall rating: 4 out of 5
Best for: homeowners who value expert guidance through a complex application, particularly those with non-standard circumstances.
Consider alternatives if: minimising fees is your priority, as some competitors charge lower broker fees. It's worth comparing broker fees across providers to see where you get the best value.
Loans Warehouse was founded in 2006 by Matt Tristram and Sam Busfield, with a registered office in Watford, Hertfordshire. The company has grown into one of the UK's leading secured loan brokers, comparing rates from over 50 lenders to find suitable options for customers.
Loans Warehouse is authorised and regulated by the Financial Conduct Authority, meaning they must follow rules about treating customers fairly and providing suitable recommendations. It's worth remembering they're a broker, not a lender, so they search their panel of lenders to find options that match your circumstances rather than lending the money themselves.
Loans Warehouse has won multiple industry awards over the years, including Secured Loan Broker of the Year at the SEI Awards (2019), Best Second Mortgage Broker at the Personal Finance Awards (2016-2019), and What Mortgage's Best Second Mortgage Broker. In 2020, they partnered with fintech Credit Kudos to use Open Banking data for affordability assessments.
Before looking deeper at Loans Warehouse's offering, it's worth understanding exactly what you'd be applying for. A secured loan, also called a homeowner loan or second charge mortgage, lets you borrow money using your property as security.
Unlike an unsecured loan, a secured loan requires collateral, usually your property, which the lender can seize and sell if you default. This reduces the risk for the lender, which often means more competitive rates than you'd get with an unsecured loan.
Your mortgage is a 'first charge' on your property, meaning your mortgage lender gets paid first if you can't keep up with repayments and your home is sold. A secured loan creates a 'second charge', so this lender is paid after your mortgage lender.
This doesn't mean you're taking out two mortgages. Your existing mortgage stays exactly as it is. The secured loan sits alongside it as a separate agreement with its own terms, rate, and repayment schedule.
The amount you can borrow depends on your available equity, which is your property's value minus your outstanding mortgage. For example, if your home is worth £300,000 and you owe £180,000 on your mortgage, you have £120,000 in equity.
Lenders won't typically let you borrow all of your equity. Most cap combined borrowing at 85-90% loan-to-value, though this varies based on your credit profile. Using the example above, at 85% loan-to-value you could potentially borrow up to £75,000, taking total borrowing to £255,000 (85% of £300,000).
Loans Warehouse offers secured loans from £5,000 to £2,500,000, though the amount you're actually offered depends on your equity, income, and credit history.
Because a secured loan sits behind your mortgage, your existing mortgage lender needs to give consent before a second charge can be registered. Most lenders agree without issue, but it's worth checking early so it doesn't hold up your application.
Common uses
Understanding the full cost of borrowing is crucial when comparing secured loan options. With Loans Warehouse, you'll come across both an interest rate and a number of fees.
Loans Warehouse doesn't publish a standard rate card because secured loan rates are highly personalised. The rate you're offered depends on factors including your credit profile, loan-to-value, income, and the amount you want to borrow. As a general rule, a stronger credit history usually means access to more competitive rates. Speak to an advisor to get an idea of what you might be offered based on your circumstances.
Most secured loans start with a fixed rate period, typically 2-5 years, after which the rate becomes variable and usually tracks the Bank of England base rate. This means your payments can rise or fall if the base rate changes.
This is where Loans Warehouse can work out more expensive than some competitors. Their fee structure includes several components.
Broker fee: this is Loans Warehouse's charge for arranging your loan. Based on representative examples, it can range from around £1,062 for smaller loans to £3,995 for larger amounts. The broker fee is typically added to your loan rather than paid upfront, but you'll pay interest on it over the loan term.
Lender arrangement fee: charged by the lender, not Loans Warehouse. Typical lender fees are around £595, though this varies by lender.
Valuation fee: your property will need to be valued. Some lenders include this in their arrangement fee, while others charge separately. Loans Warehouse states they cover valuation costs in most cases.
Legal fees: solicitors' fees for the legal work involved in securing the loan against your property. Loans Warehouse indicates they cover these costs too.
Because secured loans often run for 10-25 years, the total interest paid can add up to a significant amount over the life of the loan. Ask your advisor for a personalised illustration showing the total amount repayable before you commit, so you know exactly what you're signing up for.
Loans Warehouse's broker fees sit on the higher end of the market. Some competitors charge as little as 8% of the loan amount with caps of around £3,950, while others have lower fee structures still.
That said, Loans Warehouse's fees often include valuation and legal costs that other brokers might charge separately. Always compare the total cost of borrowing, not just individual fees. A broker with lower fees but a higher rate could cost you more overall.
Don't just compare headline broker fees side by side. Some brokers charge less upfront but pass on valuation or legal costs separately, or offer a less competitive rate. Ask for the total cost of borrowing, not just the fee, before you decide.
One of Loans Warehouse's strengths is their willingness to consider a wide range of applicants, including those turned down by mainstream lenders. Even if you have poor credit, you may still be eligible for a secured loan if you meet other criteria and can afford the repayments.
To apply through Loans Warehouse, you'll need to be a UK homeowner with a residential property as security, aged 18 or over at application, and no older than 80 at the end of the loan term. You'll need sufficient equity in your property and a regular income to demonstrate affordability.
Before applying, it helps to set a clear budget and decide on your preferred loan term and maximum monthly payment. This can streamline your application and help avoid unnecessary delays.
Loans Warehouse explicitly states they accept applications from people with poor credit and arrears. This includes applicants who've had credit issues in the past, such as missed payments or defaults, those with limited credit history, self-employed individuals, and people on non-traditional income sources.
While they consider all credit types, your credit history will still affect the rate you're offered. A stronger credit file generally means more competitive rates, so if you have significant credit issues, expect to pay more than someone with a clean credit history.
Your property needs to be in England or Wales, and it must be residential. Standard construction properties are straightforward, but Loans Warehouse can also work with some non-standard properties through specialist lenders.
Properties with short leases, unusual construction types, or in certain locations might limit your options or require specialist lenders, who may charge more.
Lenders need to see that you can afford the monthly repayments. Employed applicants typically need to show at least one month in their current role, while self-employed applicants usually need a minimum of 12 months' trading history.
Your debt-to-income ratio matters significantly. Lenders typically want your total monthly debt payments, including the new secured loan, to be no more than 40-50% of your gross monthly income.
Not sure if you'd qualify?
An advisor can talk you through your eligibility and compare options from a wide range of secured loan lenders based on your circumstances.
To give you a balanced view, here's how Loans Warehouse stacks up against two other secured loan brokers, Loan.co.uk and KIS Finance.
Consider Loans Warehouse if you value hands-on customer service through the process, have a complex situation that needs specialist expertise, want access to a large lender panel, or need a larger loan of up to £2,500,000.
You might look elsewhere if minimising fees is your main concern, you have straightforward circumstances and don't need extensive support, you're borrowing a smaller amount where fees make up a larger share of the cost, or you've compared total costs and found a better deal.
Loans Warehouse has an impressive 5-star rating on Trustpilot from over 900 reviews. Here's what customers consistently praise and what they criticise.
Communication and updates: by far the most common positive feedback relates to being kept informed throughout the process. Customers frequently mention specific advisors by name who provided regular updates and answered questions promptly.
Problem-solving: several reviews mention Loans Warehouse helping with complex or tricky situations where other brokers had failed, including sorting out issues that a previous lender had mishandled.
Speed: when applications run smoothly, many customers report completion in as little as two weeks, with some funds arriving within a week for straightforward cases.
Personalised service: customers appreciate having named case managers rather than being passed between multiple people.
Fees: some customers feel the broker fees are high compared to alternatives. A few mention discovering lower-fee options after already starting the Loans Warehouse process.
Complex cases take longer: while straightforward applications complete quickly, complex situations involving third-party delays, such as solicitors or land registry, can stretch to months.
Limited control over third parties: some frustration relates to valuers, solicitors, or lenders rather than Loans Warehouse directly.
Overall, the reviews suggest Loans Warehouse delivers on customer service, even if their fees aren't the lowest in the market.
Understanding what to expect can help your application go more smoothly. You can start online or by phone. Loans Warehouse uses an eligibility checker that performs a soft credit search, which won't affect your credit score.
Step by step
Initial enquiry
Submit your details online or speak to an advisor to discuss your needs. This takes around 5-10 minutes and only involves a soft credit search, which won't affect your credit score.
Fact-find and eligibility check
Your advisor gathers information about your circumstances, property, and credit profile to match you with suitable lenders, who'll then make a decision in principle.
Full application and documentation
You'll complete a full application and provide supporting documents, including proof of identity, proof of address, proof of income, and recent bank statements. The faster you provide these, the faster your application progresses.
Property valuation
The lender arranges a valuation to confirm your property's value and suitability for the loan. Many properties can be valued using a desktop valuation, though some need a physical survey.
Underwriting and offer
The lender reviews your application, checks your documents, and may request further information. Missing documents are the most common cause of delays at this stage.
Completion
Once approved, you'll sign the loan agreement to confirm the terms before funds are released. Straightforward cases can complete within 2 weeks, while more complex cases might take 4-6 weeks.
Before applying, it's important to carefully assess affordability and the risks involved so you understand exactly what you'd be committing to. Secured borrowing is tied to your property. Taking one out means the lender registers a charge against your home.
This is the most serious risk with any secured loan. If you can't keep up repayments, the lender can ultimately repossess your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Before taking out a secured loan, honestly assess whether you could afford the payments if your circumstances changed, such as job loss, illness, or a rise in interest rates.
If you're worried about keeping up with repayments, whether now or in the future, speak to an advisor as early as possible. You can also get free, independent guidance from MoneyHelper on 0800 138 7777.
Most secured loans have an initial fixed rate period, during which paying off the loan early triggers a penalty charge. These typically range from 1-5% of the outstanding balance, which can amount to thousands of pounds. If you think you might want to repay early, discuss this upfront and look for loans with low or no early repayment charges.
After any initial fixed period, your rate becomes variable. If interest rates rise, so will your monthly payments. Consider whether you could still afford your payments if rates were to increase.
Secured loans can run for 10-25 years. Over this time, interest adds up significantly, and you may end up repaying substantially more than the amount you originally borrowed.
A second charge on your property can affect your ability to remortgage or move home, as any new lender will need to take the existing secured loan into account.
Based on our research, Loans Warehouse is a good fit for homeowners who value hands-on guidance and communication throughout the process, those with complex circumstances such as poor credit, self-employment, or unusual properties, people borrowing larger amounts where the fee represents a smaller percentage of the total, and anyone who's struggled with applications elsewhere.
Loans Warehouse might not be the best choice for fee-sensitive borrowers prioritising the lowest possible costs, those with straightforward circumstances who don't need extensive support, or people borrowing smaller amounts where fees have a bigger impact on the overall cost.
Loans Warehouse has clear strengths, particularly in customer service and handling complex cases, but it's worth comparing options before committing.
Money Saving Advisors connects you with specialist secured loan brokers across the market, not just one company. We can help you compare rates and fees from multiple brokers and lenders, find specialists who match your specific circumstances, understand which option offers the best overall value, and access guidance throughout the process.
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Common questions
No, Loans Warehouse is a credit broker, not a lender. They search their panel of over 50 lenders to find loan options that match your circumstances. Your loan agreement will be with the lender, not with Loans Warehouse.
Initially, they perform a soft search to check eligibility, which doesn't affect your credit score. If you proceed with a full application, the lender will perform a hard credit search, which is recorded on your credit file.
Straightforward applications can complete in 2-3 weeks, sometimes faster. Complex cases involving additional documentation, property issues, or third-party delays can take 4-8 weeks.
Yes, Loans Warehouse explicitly accepts applications from people with poor credit, arrears, and other credit issues. However, you'll typically pay more than someone with a clean credit history.
Loans Warehouse charges a broker fee that's added to your loan. Based on representative examples, this ranges from around £1,062 for smaller loans to £3,995 for larger amounts. They state they cover valuation and legal costs in most cases.
This depends on your specific loan agreement. Most secured loans have early repayment charges during the initial fixed rate period, typically 1-5% of the outstanding balance. Some loans have no early repayment charges, so discuss this with your advisor if repaying early is important to you.
Most lenders offer secured loans from £10,000, with maximums of £500,000 or more. Some specialist providers go as low as £5,000 or as high as £2.5 million for high-value properties.
Yes, Loans Warehouse is authorised and regulated by the Financial Conduct Authority. You can verify any broker's authorisation on the Financial Conduct Authority register.
You can call them on 01923 678 870 (Monday to Thursday 8am-6pm, Friday 9am-5.30pm, Saturday 9am-2pm), email office@loanswarehouse.co.uk, or start an application online at loanswarehouse.co.uk.
Yes, Loans Warehouse accepts self-employed applicants. You'll typically need at least 12 months' trading history and documentation of your income, such as tax returns and accounts.
If one lender declines your application, Loans Warehouse may be able to submit it to alternative lenders on their panel. They specialise in finding solutions for people turned down elsewhere.
No, Loans Warehouse doesn't charge upfront fees. Their broker fee is only paid if your loan completes, and it's typically added to the loan amount rather than paid separately.
Standard residential properties in England and Wales are accepted. Some non-standard constructions, short leases, or unusual property types may require specialist lenders.
Your existing mortgage continues unchanged. However, you'll need your mortgage lender's permission, known as consent to second charge, before taking out a secured loan. The new loan creates a second charge on your property, which could affect future remortgaging.
Loans Warehouse earns a broker fee from you, which is added to the loan, and may also receive commission from lenders. This is standard practice for credit brokers.
What our clients say
Shortly after I spoke with Anna, she was also very helpful and made it effortless and a nice experience.
Had a really good experience regarding arranging a secured loan. They introduced me to a great advisor. Thanks for the help.
For once a loan transaction without stress and complications. Very impressed and highly recommended.
Thrilled to share my exceptional experience with Money Saving Advisors. The website made it incredibly simple and easy to connect with an advisor. They helped me find the best deal on my remortgage and secured a very competitive interest rate!
Great advice and money saved on mortgage.
I have previously declined a loan of the value I needed from various brokers, but this website found me a reputable broker with surprisingly decent rates.
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