Norton Finance secured loans review

Looking for a Norton Finance secured loans review? Norton Finance is one of the UK's longest-established secured loan brokers, connecting customers with suitable lenders since 1974. With over 50 years of experience, Norton Finance specialises in connecting clients with lenders across a range of financial products, including secured loans, remortgages and bridging finance.

We've looked at their fees, eligibility criteria, application process and customer reviews to help you decide if they're right for you.

Quick verdict: Norton Finance offers solid service for homeowners who need help finding a secured loan, particularly those with non-standard credit histories. Their 50+ years of experience and CeMAP-qualified advisors are genuine advantages. Norton Finance also provides a no-obligation quote using a soft search, so you can compare your options without it affecting your credit score. But their broker fees (up to £3,995) are higher than some competitors, and their lender panel is smaller than brokers who compare a wider range of lenders. If you have good credit, you may find better deals elsewhere.

Our rating: 3.8 out of 5

Best for: Homeowners with complex circumstances or poor credit who need hands-on support throughout the application process. Norton Finance maintains an average 4.7 out of 5 rating on Feefo for customer service, with many clients praising their helpfulness and expertise.

Norton Finance is a UK finance broker based in Rotherham, South Yorkshire. Founded in 1974 by Keith Stringer, the company has been helping homeowners find secured loans, remortgages and other financial products for over 50 years.

It's important to understand that Norton Finance is primarily a broker, not a lender. This means they search their panel of lenders to find suitable products for your circumstances, rather than lending you money directly. As a broker, Norton Finance can search a wider pool of lenders than you'd typically access by approaching one directly, giving you more choice. Their service works similarly to a comparison site, simplifying the process of finding and comparing secured loans from multiple lenders. They also have an in-house lending arm called Norton Home Loans, but most customers are matched with third-party lenders.

The company employs over 250 staff and has access to a wide range of financial products across their full range of services. For secured loans specifically, they work with a panel of around 19 specialist lenders.

Norton Finance is authorised and regulated by the Financial Conduct Authority. They're also members of the Association of Mortgage Intermediaries (AMI) and the Association of Finance Brokers (AFB).

The Norton Finance group

The Norton Finance group includes several related businesses:

Norton Finance - the main brokerage arm that connects customers directly to lenders. This is where most consumers will interact with the company.

Norton Home Loans - the group's own lending arm, offering first and second charge mortgages directly. Norton Home Loans specialises in customers who don't meet standard high street criteria.

Norton Broker Services - a service for other mortgage brokers and intermediaries who need to place secured loan cases, giving them access to a wide range of lenders.

This structure means Norton can sometimes offer their own lending products as well as those from their panel, giving them additional options for complex cases.

Before looking at Norton Finance specifically, it helps to understand what you're considering. A secured loan uses your home as security for the borrowing. Secured loans can be used for various purposes, including home improvements and debt consolidation, but it's important to consider your other debts and overall financial obligations before applying.

Important: Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Speak to an advisor to make sure you understand all the costs, terms and the risk of repossession before proceeding. If you're ever worried about keeping up with payments, free and impartial guidance is available from MoneyHelper (moneyhelper.org.uk or 0800 138 7777).

Secured loans are also called second charge mortgages or homeowner loans. They sit behind your main mortgage as a second claim on your property. You'll continue paying your existing mortgage separately.

How secured loans work

When you take out a secured loan, the lender places a "charge" on your property. This is a legal claim that gives them rights to recover their money if you default. Your main mortgage lender has the first charge, so a secured loan lender has the second charge.

Here's what happens:

1. You apply through a broker like Norton Finance or directly with a lender
2. The lender assesses your income, credit history and property value. It's worth checking your credit report for errors before applying, as mistakes can affect your chances of approval and the rate you're offered
3. If approved, they arrange a valuation of your property
4. Legal paperwork is completed, usually by the lender's solicitors
5. The loan completes and funds are released to your bank account
6. You make monthly repayments over your chosen term

The amount you can borrow depends primarily on your equity (the portion of your home you own outright) and your ability to afford the repayments.

Why choose a secured loan over remortgaging?

Many people consider remortgaging before looking at a secured loan. But a secured loan might be the better choice if:

• You're on a good fixed-rate deal - breaking your current mortgage early could mean paying expensive early repayment charges. A secured loan lets you keep your existing rate while raising additional funds.
• Your circumstances have changed - if your credit score has dropped or your income has changed since taking out your mortgage, you might not qualify for the same rates again. A secured loan doesn't require changing your main mortgage.
• You need funds quickly - remortgages typically take longer to complete than secured loans. If you need money within a few weeks, a secured loan might be faster.
• You want to keep your mortgage term separate - a secured loan has its own term, so you're not extending your main mortgage and potentially paying interest for longer than planned.

Norton Finance doesn't offer a single product with fixed terms. Instead, they search their lender panel to find a suitable loan for each customer. Here's what's typically available through their service:

Loan amounts and terms

Rate types available

Fixed rate loans - your interest rate stays the same for an initial period (commonly 2-5 years), giving you predictable monthly payments. After the fixed period, you'll typically move to the lender's standard variable rate.

Variable rate loans - your rate can change during the loan term, usually following movements in the Bank of England base rate. Monthly payments can go up or down.

The rate type and any fixed period available will depend on which lender is the right fit for your circumstances.

Typical uses

Norton Finance can help arrange secured loans for most purposes, including:

• Home improvements and renovations
• Debt consolidation
• Large purchases, such as cars, weddings or holidays
• Business purposes (with some lenders)
• School fees
• Tax bills
• Other major expenses

Beyond secured loans, Norton Finance can also help arrange personal loans, bridging finance and buy-to-let mortgages, depending on your circumstances. Some lenders restrict certain uses, particularly speculative investments or business funding, so Norton's advisors can tell you which lenders accept your intended use.

Understanding the full cost of borrowing through Norton Finance is essential before applying. There are several elements to consider.

Interest rates

Like all secured loan brokers, the rate Norton Finance can secure for you depends on several factors, including your credit history, the loan-to-value ratio and how much you want to borrow. Generally, a stronger credit profile and a lower loan-to-value ratio lead to more competitive rates.

These figures are indicative only. The actual rate offered depends on your complete financial picture, including income, existing debts, property value and the amount you want to borrow. Speak to an advisor for a personalised, up-to-date quote based on your circumstances.

Broker fees

This is where Norton Finance differs significantly from some competitors. They charge a broker fee of up to 12.5% of the loan amount, and you'll always be told about this before you proceed.

Example costs:

• For a £20,000 loan, the broker fee could be up to £2,500 (12.5%)
• For a £50,000 loan, the broker fee would be capped at £3,995 (the maximum)
• For a £100,000 loan, the broker fee would still be capped at £3,995 (the maximum)

The £3,995 cap means larger loans effectively pay a lower percentage fee. On a £100,000 loan, that's under 4%.

Lender fees

On top of Norton's broker fee, you'll also pay fees charged by the actual lender. These typically include:

Representative example

Norton Finance publishes a representative example on its website, showing how the interest rate, broker fee and lender fee combine over the life of a typical loan. Because rates and fees vary by lender, loan amount and your circumstances, speak to an advisor for figures based on your own situation.

How fees compare to competitors

Norton's broker fees are on the higher end of the market. Here's how they typically compare:

Higher fees don't necessarily mean poor value. If Norton Finance can secure you a rate or an approval you couldn't get elsewhere, the fee may be worthwhile. But it's essential to compare the total cost of borrowing, including all fees, not just the headline rate.

One of Norton Finance's strengths is their ability to help customers with non-standard circumstances. Because they work with multiple lenders, they can often find solutions when high street banks say no. Checking your eligibility through Norton Finance uses a soft search and won't affect your credit score.

Basic requirements

To apply for a secured loan through Norton Finance, you'll typically need to meet these minimum criteria:

Credit requirements

Norton Finance can help customers across the credit spectrum. Their lender panel includes specialists who consider:

Good credit customers - access to the best rates from mainstream lenders.

Fair credit customers - options available, though at higher rates than those with the strongest credit.

Poor credit customers - Norton can access specialist lenders who consider past credit issues, including customers with:

• Satisfied or unsatisfied debts
• Late payments or arrears
• Defaults on other credit
• Accounts in default on secured loans
• Debt management plans
• Past issues that are several years old

The worse your credit history, the more limited your options become, and the higher the rate you're likely to pay. But Norton's panel includes lenders who take a pragmatic view of past credit problems.

Income requirements

Lenders assess affordability by looking at your income against your existing commitments and the new loan payment. You'll typically need to provide:

Employed applicants:

• 3 months' payslips
• Bank statements showing salary payments
• P60 or employment contract

Self-employed applicants:

• 2 years' accounts or tax returns
• SA302 forms from HMRC
• Bank statements

Retired applicants:

• Pension statements
• Bank statements showing pension income
• Any other income documentation

Some lenders on Norton's panel are more flexible with income documentation than others, which is useful for self-employed customers or those with complex income.

Property requirements

Your property must be suitable security for a loan. Most standard UK residential properties qualify, but some may cause issues:

Usually accepted:

• Standard freehold houses
• Leasehold flats, with sufficient lease remaining
• Houses converted to flats
• Ex-local authority properties
• Properties of standard construction

May cause issues:

• Non-standard construction, such as concrete or steel frame
• Properties with short leases, under 70 years remaining
• Properties in poor condition
• Mixed-use properties
• Properties with restrictive covenants

Norton's advisors can tell you early in the process if your property type might limit your options.

Norton Finance assigns a dedicated advisor to manage your application from start to finish, and aims to keep you updated at each stage.

Total timeline

Best case: 2-3 weeks from application to funds.

Typical case: 3-4 weeks.

Complex cases: 4-6 weeks or longer.

Factors that can speed things up:

• Providing all documents promptly
• Having straightforward circumstances
• A property that's easy to value
• Responding quickly to any queries

Factors that can slow things down:

• Missing or incomplete documents
• A non-standard property requiring a physical valuation
• Complex income, such as self-employment or multiple sources
• Issues uncovered during underwriting

Norton Finance emphasises customer service as a differentiator, and is known for helpful, well-informed staff. Customers consistently praise the team for their friendliness, knowledge and professionalism, and many reviewers highlight the efficiency and speed of the service. Norton Finance maintains an average 4.7 out of 5 rating on Feefo for customer service.

Clients appreciate the regular updates and clear communication provided throughout the loan process, with updates typically delivered on or before the expected date.

Dedicated support

Each customer is assigned a dedicated advisor who manages their case from start to finish. This means you have one point of contact who understands your situation, rather than explaining everything to different people each time you call.

Norton's advisors are CeMAP-certified, or working towards certification. CeMAP is the Certificate in Mortgage Advice and Practice, the recognised qualification for mortgage advisors in the UK.

Customer reviews

Norton Finance has generally positive reviews across major platforms:

• Trustpilot: 4.4 out of 5 from approximately 110+ reviews
• Feefo: 4.7 out of 5 average rating, with a Platinum Trusted Service Award

Common themes in positive reviews:

• Staff keep customers well informed throughout the process
• Advisors are patient and explain things clearly
• They help customers who've been turned down elsewhere
• The process is relatively smooth once documents are submitted

Common themes in negative reviews:

• Some customers report excessive follow-up calls after an initial enquiry
• The fees are higher than expected
• Some lenders requested additional information multiple times
• Processing times can be longer than initially quoted

Complaints

Some customers have reported persistent contact after making an initial enquiry, even after deciding not to proceed. Norton has responded to several such reviews, offering to remove people from their contact list if they email compliance@norton-finance.co.uk or call 01709 518518.

The most common complaint themes on consumer review platforms are:

• Charges and fees issues
• Communication about fees
• Processing delays

Norton actively responds to negative reviews and appears to take complaints seriously. If you're unhappy with how a complaint has been handled, you can escalate it to the Financial Ombudsman Service, which provides free, independent dispute resolution.

Advantages

• 50+ years of experience - Norton has been in business since 1974, which provides genuine expertise and stability. They've navigated multiple economic cycles and understand complex lending scenarios.
• Helps customers with poor credit - their specialist lender panel includes options for customers with past credit problems, defaults and even debt management plans. This is valuable if you've been declined elsewhere.
• Dedicated advisor throughout - having one point of contact who understands your case makes the process smoother than dealing with different people each time.
• CeMAP-qualified staff - their advisors hold recognised mortgage qualifications, giving you confidence in the advice you receive.
• Multiple product types - beyond secured loans, Norton can help with remortgages, bridging finance and other products if a secured loan isn't the right fit for your needs.
• Initial soft search - the initial quote won't affect your credit score, so you can explore options without commitment.
• In-house lending option - Norton Home Loans can sometimes offer solutions when their panel lenders can't help, giving them additional flexibility.

Disadvantages

• Higher broker fees - fees of up to 12.5% (maximum £3,995) are at the higher end of the market. On smaller loans, this can significantly increase your total borrowing cost.
• Smaller lender panel - with around 19 lenders for secured loans, Norton's panel is smaller than brokers who compare a wider range of lenders, some of whom access 50 or more. This could mean missing better deals available elsewhere.
• Persistent follow-up contact - multiple reviews mention frequent calls and messages after an initial enquiry. While this shows proactive service, some find it excessive.
• Limited to their own panel - Norton searches its own panel of lenders, not the entire market. A broker with a wider lender panel might find you a better deal from a lender Norton doesn't work with.
• Fees can be added to the loan - while convenient, adding broker fees to your loan means you pay interest on them over the full term, increasing the total cost significantly.

Understanding how Norton Finance stacks up against other options helps you make an informed choice.

Norton Finance vs brokers with a wider lender panel

• Lender panel: Norton Finance works with around 19 lenders, while brokers who compare a wider range of lenders may access 50 or more.
• Broker fees: Norton charges up to 12.5% of the loan, capped at £3,995. Fees at other brokers vary and are often lower.
• Service level: Norton offers a dedicated advisor throughout; service levels vary by broker elsewhere.
• Poor credit expertise: Norton's is strong; this varies by broker elsewhere.
• Years in business: Norton has over 50 years' experience; this varies by broker.

When to choose Norton: if you have complex circumstances and value hands-on support from an experienced team.

When to choose a broker with a wider lender panel: if you have good credit and want access to the widest range of lenders and potentially lower fees.

Norton Finance vs direct lenders

• Products compared: Norton compares multiple lenders; a direct lender only offers their own products.
• Broker fees: Norton charges a broker fee; direct lenders don't.
• Advice quality: Norton provides regulated advice across your options; a direct lender's advice is limited to their own products.
• Application support: Norton offers full support throughout; this varies by lender.
• Cheapest option for you: possibly, with Norton; only if the direct lender happens to be cheapest.

When to choose Norton: if you want advice across multiple options and help through the application process.

When to choose a direct lender: if you already know which lender you want and their price works out cheapest for you. You'll also save on broker fees.

Norton Finance vs remortgaging

• Keep your existing mortgage rate: yes, with a Norton secured loan; no, with a remortgage.
• Early repayment charges: none on your existing mortgage with a secured loan; a remortgage may trigger them.
• Process complexity: a secured loan is generally simpler than a remortgage.
• Rates available: secured loan rates are typically higher than first-charge mortgage rates; a remortgage may offer lower rates.
• Total cost: depends on your circumstances either way.

When to choose a secured loan: if you're on a good fixed rate with expensive early repayment charges, or your circumstances have changed and you won't qualify for the same mortgage terms again.

When to choose remortgaging: if you're out of any fixed period, or the savings from a lower rate outweigh any early repayment charges.

Norton Finance is a good fit if:

• You have a non-standard credit history - Norton's expertise with adverse credit and specialist lender relationships make them well-suited if high street options have turned you down.
• You value hands-on support - if you want someone to guide you through the entire process, explain your options clearly and handle paperwork, Norton's service model delivers this.
• You have complex circumstances - self-employed income, unusual property types or other complications benefit from Norton's experience and lender relationships.
• You want to keep your existing mortgage - if remortgaging isn't attractive due to early repayment charges or changed circumstances, a secured loan through Norton lets you raise funds without touching your main mortgage.
• You're borrowing a larger amount - the £3,995 fee cap means percentage costs are lower on larger loans. On a £100,000 loan, that's under 4%.

Consider alternatives if:

• You have excellent credit - with a strong credit profile, you may find lower fees and better rates elsewhere, including from other brokers or direct lenders.
• You're borrowing a small amount - on a £10,000 loan, a 12.5% fee (£1,250) significantly increases your total borrowing cost. A lower-fee broker might save you substantial money.
• You're confident navigating options yourself - if you understand secured loans well and can compare products independently, using a direct lender saves broker fees entirely.
• You want the widest possible lender choice - Norton's panel of around 19 lenders, while including specialists, is smaller than some competitors. If accessing the widest range matters to you, look elsewhere.

Overall rating: 3.8 out of 5

Norton Finance is a legitimate, established broker with genuine expertise in secured lending. Their 50+ years of experience, dedicated advisor model, and ability to help customers with poor credit are real advantages.

If you have complex circumstances or a less-than-perfect credit history, Norton Finance is a strong choice to consider for secured loans.

But they're not the right choice for everyone. Higher broker fees and a smaller lender panel than brokers who compare a wider range of lenders mean customers with good credit might find better deals elsewhere.

Final recommendation

Choose Norton Finance if you have complex circumstances, poor credit, or want dedicated support throughout the process. Their experience and specialist lender relationships add genuine value in these situations.

Compare alternatives if you have good credit and straightforward circumstances. A broker who compares a wider range of lenders, or a direct lender, might save you money on fees while still finding competitive rates.

Always compare the total cost of borrowing, including all fees and interest, not just the headline rate. Get quotes from multiple sources before committing.

At Money Saving Advisors, we connect homeowners with specialist secured loan brokers and lenders who can help find the right product for your circumstances.

There's no charge for our service. We're paid a commission by the lender or broker if your application completes, and this doesn't affect the advice you receive or which options we show you.