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Secured Loans
Tandem Bank offers secured loans from £10,000 to £250,000 with loan-to-value ratios up to 100%, making it one of the most flexible lenders for homeowners who've built up significant equity. Here's an independent look at its rates, eligibility, and application process.
Tandem Bank is a strong option if you need to borrow a high percentage of your property's equity. It offers secured loans from £10,000 to £250,000, with loan-to-value ratios up to 100% and terms from 3 to 30 years - among the most flexible loan-to-value limits in the market.
Tandem is best suited to homeowners with substantial equity, those making green home improvements, and borrowers with minor credit issues. If you need to borrow more than £250,000 or want to apply directly, another lender may suit you better.
Tandem secured loans are second charge mortgages, and taking one out puts your home at risk if you don't keep up repayments. Speak to an advisor to compare Tandem against a wide range of other lenders for your circumstances.
Tandem Bank offers secured loans between £10,000 and £250,000, with loan-to-value ratios up to 100% and terms spanning 3 to 30 years. As one of the UK's original challenger banks with a strong focus on green lending, Tandem stands out for its EPC rating discount and its willingness to lend at higher loan-to-value ratios than most competitors.
Tandem Bank Limited is authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Reviewers highlight that processes at Tandem Bank are straightforward and jargon-free, and many found the staff professional, helpful, and friendly.
Tandem secured loans are second charge mortgages. This means they sit in addition to your primary mortgage and can lead to repossession if repayments are not maintained.
Key strengths:
Key weaknesses:
Best for: homeowners with high equity usage who want flexible terms, and those making green home improvements.
Bottom line: Tandem Bank is a strong choice if you need to borrow a high percentage of your property's equity. Its 100% loan-to-value offering goes further than most competitors, and the green discount makes it particularly attractive for eco-conscious homeowners. Customers also value the speed of the approvals process. If you need to borrow more than £250,000, you'll need to look elsewhere.
Compare with: Pepper Money, United Trust Bank, and Norton Home Loans.
Secured loans
We compare Tandem Bank against a wide range of other secured loan lenders to find options that match your equity, credit profile, and what you need the loan for.
Tandem Bank is a UK-based digital challenger bank with a mission to become one of the UK's greener banks. It was founded in 2014 by Ricky Knox, Matt Cooper, and Michael Kent, and became a fully licensed bank in 2018 after acquiring Harrods Bank.
The secured loan side of the business came through Tandem's 2022 acquisition of Oplo, a consumer lender that had been operating since 2009 (originally as 1st Stop Group). This brought together Tandem's digital banking platform with Oplo's established expertise in homeowner loans, creating a combined business with £1.2 billion in assets.
Today, Tandem employs over 500 people across offices in Blackpool, its headquarters, as well as Cardiff, Durham, and London. The company was named in The Sunday Times 100 Tech 2025 list as one of Britain's fastest-growing tech companies.
Tandem positions itself as a specialist in the "new mainstream" market - an estimated 26 million UK consumers whose lending needs aren't fully served by traditional high street banks. This includes people with less-than-perfect credit histories and those looking for more flexible lending criteria.
Its secured loan products sit alongside mortgages, car finance, personal loans, and green home improvement financing. Since launching its green lending initiative, Tandem reports helping fund over £523 million in green home improvements.
Tandem Bank Limited is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.
As a fully licensed UK bank, deposits with Tandem are protected up to £85,000 per person under the Financial Services Compensation Scheme. This means your savings are protected even if the bank were to fail.
Before looking deeper into Tandem's specific offering, it's worth understanding what you're actually signing up for when you take out a secured loan.
A secured loan, sometimes called a home loan, homeowner loan, or second charge mortgage, uses your property as security for the borrowing. This means the lender places a "charge" on your home, giving them the right to recover their money by selling your property if you don't keep up repayments.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Tandem secured loans are second charge mortgages, meaning they sit in addition to your primary mortgage and can lead to repossession if repayments are not maintained.
Because the lender has this security, they're typically willing to offer larger amounts than with unsecured personal loans. But the trade-off is significant: your home is genuinely at risk if things go wrong.
You might wonder why you'd take a secured loan rather than simply remortgaging for a larger amount. There are several scenarios where a secured loan makes more sense.
If you have a mortgage deal that you'd lose by remortgaging, a secured loan lets you access extra funds without disturbing your existing deal. This is particularly relevant if you locked in a deal before recent interest rate rises.
Secured loans can also be faster to arrange than remortgages, and the upfront costs are often lower. In many cases you won't need to pay for a full property valuation, and the legal process is simpler.
The amount you can borrow depends on three main factors: the equity in your property, your ability to afford the repayments, and the lender's maximum loan amount.
Equity is the portion of your home you own outright - your property value minus any outstanding mortgage. If your home is worth £300,000 and you owe £200,000 on your mortgage, you have £100,000 in equity.
Loan-to-value (LTV) describes how much you're borrowing as a percentage of your property's value. Tandem offers up to 100% LTV, meaning you could potentially borrow against all your available equity. But a higher LTV means higher risk for both you and the lender.
Affordability is assessed based on your income, existing debts, and regular outgoings. Even if you have substantial equity, lenders won't approve more than you can realistically afford to repay. Speak to an advisor for a personalised assessment based on your circumstances.
Tandem offers a range of secured loan products designed to suit different circumstances. Its product tiers - Tandem Zero, One, Two, and Three - reflect different credit profiles, with Tandem Zero for the cleanest credit histories and higher tiers accepting more adverse credit.
Tandem's standout feature is its high loan-to-value offering. While many competitors cap at 75-85% LTV, Tandem goes up to 100% for eligible applicants.
If you're close to qualifying for a lower loan-to-value tier, borrowing slightly less can sometimes unlock a more favourable rate tier and a lower overall cost. It's always worth asking your advisor to model a couple of scenarios before you commit.
For loans at 85% LTV or below, the maximum loan amount reaches £500,000 for purchases and remortgages. This drops for higher LTV lending.
One of Tandem's differentiating features is its energy efficiency discount. If your property has an Energy Performance Certificate (EPC) rating of A or B, you could receive a discount off your interest rate.
This aligns with Tandem's broader green mission, but it also makes practical sense - energy-efficient homes typically have lower running costs, which can improve your affordability assessment.
Tandem doesn't publish a single headline rate. Your actual rate depends on a combination of factors, including your credit history, income, loan-to-value ratio, and property characteristics. Speak to an advisor for a personalised quote based on your circumstances - using an advisor gives you access to Tandem's full range and helps identify which of its rate tiers you're likely to qualify for.
Your quote
Tandem doesn't publish a single headline rate - your actual rate depends on a combination of factors. Speak to an advisor for a personalised quote.
Your credit score and credit history
A cleaner credit history typically puts you in a more favourable rate tier.
Income
Your income affects both affordability and which product tier you qualify for.
Loan-to-value ratio
Borrowing a lower percentage of your property's value generally means access to a more favourable rate tier.
Property type and condition
Standard construction properties in good condition are viewed more favourably than non-standard or poorly maintained homes.
EPC rating
Properties rated A or B for energy efficiency can qualify for Tandem's green discount.
Loan amount and term
The size and length of your loan can affect the rate tier and product available to you.
Employment status
Employed, self-employed, and contract workers may be assessed differently for affordability.
Tandem accepts secured loan applications for most legitimate purposes. The most common uses include the following.
Whether you're adding an extension, converting a loft, or renovating your kitchen, a secured loan can fund significant property upgrades. Tandem particularly emphasises green home improvements - solar panels, heat pumps, better insulation, and energy-efficient heating systems.
Consolidating multiple debts into a single secured loan can simplify your finances into one monthly payment instead of several. If your existing debts carry higher interest rates, consolidating can potentially reduce your monthly outgoings.
A word of caution: while your monthly payments might fall, spreading debt over a longer term often means paying more interest overall. It's worth remembering that spreading repayments over a longer period can increase the total amount you have to repay. Tandem allows up to £60,000 of unsecured debt consolidation for remortgages.
Large one-off expenses like buying a car, paying for a wedding, or funding education can be covered with a secured loan. The longer repayment terms make monthly payments more manageable than personal loans.
Some homeowners use secured loans to fund business ventures or investments. However, using personal property as security for business purposes carries significant risk, so speak to an advisor before using your home this way.
Tandem's eligibility criteria are more flexible than many mainstream lenders, but there are still clear requirements you'll need to meet.
Tandem's tiered system means it can consider a range of credit situations.
Tandem Zero (cleanest credit):
Tandem One:
Tandem Two and Three:
CCJs and defaults for utility and communications providers under £350 don't affect which product tier you qualify for, though they may still factor into affordability calculations.
CCJs don't have to be satisfied, but any balances over £2,000 need underwriter review with an explanation.
Secured arrears are assessed on missed payments, with one late payment allowed before moving to a higher tier. Unsecured arrears follow a "worst status" assessment approach.
Tandem accepts self-employed applicants who have been trading for at least 3 years under the same company name. You'll need to provide:
For self-employed applications, Tandem uses the latest year's figures, potentially including retained profits for limited company directors.
If your income has dropped by 30% or more year-on-year, you'll also need to provide 3 months' business bank statements for trend assessment.
Tandem doesn't set a minimum property value, which is unusual in the market - many competitors require at least £75,000 or £100,000.
Accepted property types:
Property considerations:
Understanding the full cost of a Tandem secured loan goes beyond the interest rate alone. Here's what to factor into your calculations.
Broker fees can be added to your loan, but that means you'll pay interest on them over the full term. If you can afford to pay the fee upfront, it's usually the cheaper option in the long run.
Tandem uses Automated Valuation Models for many applications, which speeds up the process and often removes the need for a valuation fee. For loans at 50% LTV or below, the required confidence level for an automated valuation drops, making approval easier.
Physical valuations are required for all purchases and for some remortgage applications, depending on the loan amount and LTV. An up-to-date Land Registry entry or mortgage consent documentation may also be required, and these documents need to be current to support an accurate valuation.
Whether you'll face early repayment charges depends on your specific product. Tandem offers both fixed-rate products with early repayment charges and products without them.
If you think you might pay off your loan early - whether through a lump sum, selling your property, or remortgaging - check the specific terms before signing. Early repayment charges typically range from 1-5% of the outstanding balance, which can amount to thousands of pounds on larger loans. For example, a 3% charge on a £100,000 loan would cost £3,000.
The representative example your advisor provides will set out the full breakdown of costs, including the loan amount, term, fees, and total amount repayable. Because your rate depends on your individual circumstances, always ask for a personalised illustration before deciding, and compare the total amount repayable rather than just the monthly payment.
As a general rule, the longer your term, the more interest you'll pay overall, even though your monthly payments will be lower. A shorter term usually means higher monthly payments but a lower total cost. Speak to an advisor to compare terms side by side for your circumstances.
Every secured loan carries important risks that you need to understand before committing.
This isn't just a legal warning - it's a genuine possibility. If you fall behind on payments, Tandem, like any secured lender, has the right to start repossession proceedings. This is a last resort after missed payments and communication attempts, but the risk is real.
Before borrowing, honestly assess:
If you're worried about keeping up with repayments on any borrowing, free and impartial guidance is available from MoneyHelper at moneyhelper.org.uk or by calling 0800 138 7777.
If you choose a variable rate product, or when your fixed rate period ends, your payments can change. With the Bank of England base rate having fluctuated significantly in recent years, this isn't a theoretical risk. Speak to an advisor about how a rate change could affect your specific loan before committing.
Want to pay off your loan early? Check for early repayment charges first, as these can affect your flexibility to:
Applying for a Tandem secured loan initially involves only a soft credit check, which doesn't affect your credit score. But if you accept a quote and proceed, Tandem will carry out a hard credit search that will show on your file for other lenders to see.
Multiple hard searches in a short period can negatively affect your credit score, so avoid applying to many lenders at the same time.
The longer your loan term, the more interest you'll pay overall, even though your monthly payments will be lower. Before choosing a term, compare the total amount repayable over different term lengths with an advisor, not just the monthly payment.
Tandem secured loans are only available through a broker, not directly. Customers frequently mention the speed and efficiency of fund transfers and approvals at Tandem Bank. Here's what to expect from the application process.
Complex applications involving unusual income, properties, or credit situations may take longer.
How it works
Initial enquiry and soft search
You or your advisor submits basic details for an initial assessment. Tandem carries out a soft credit check at this stage, which doesn't appear on your credit file or affect your score, and gives an indication of likely approval. You'll typically get a decision in principle within seconds.
Quote and acceptance
If the initial check is positive, you'll receive a quote outlining your indicative rate, fees, and the total amount repayable. At this point, you can compare the offer with other lenders before deciding whether to proceed.
Full application
If you accept the quote, you'll need to provide proof of identity, proof of address, income evidence, bank statements, and details of your existing debts and outgoings. Your advisor submits the full application, and Tandem carries out a hard credit search. Documents are usually required within 60 days of your decision in principle.
Valuation
Depending on your loan amount and LTV, Tandem may use an Automated Valuation Model, request a desktop valuation, or arrange a physical valuation. An automated valuation is instant; a physical valuation typically takes 3-5 working days.
Underwriting
Tandem's underwriters review your full application, checking your debt-to-income ratio, property valuation, recent credit activity, and affordability. This typically takes a few days for straightforward cases.
Offer and completion
If approved, you'll receive a binding mortgage offer. Legal paperwork follows, your direct debit is set up, and funds are released to your nominated bank account. Tandem reports an average of around 13 days from full application to receiving funds.
Tandem holds a 4.1/5 star rating on Trustpilot from over 4,500 reviews, a score the platform rates as "Great." About two-thirds of reviews award five stars.
Common positive feedback:
Common complaints:
Once your loan is active, you can log into the online portal or app to view your balance and payment history, set up and manage direct debit payments, access statements, and contact customer service for changes or queries.
Based on Trustpilot reviews, Tandem Bank receives positive feedback across its product range, though reviews specifically for secured loans are mixed in with general banking and car finance feedback.
Positive reviews (64% five-star):
Mixed reviews:
Negative reviews (9% one-star):
The 4.1/5 Trustpilot rating is genuinely positive for a financial services company - many lenders struggle to reach this level. That said, Trustpilot reviews cover all Tandem products, not specifically secured loans, and the secured loan operation inherited from Oplo may have slightly different service levels than the newer digital banking products.
Reviews are a useful gut check, but they rarely tell you whether a lender is right for your specific circumstances. Speak to an advisor who can compare Tandem against other lenders based on your equity, credit profile, and what you need the loan for.
Here's a balanced look at where Tandem Bank stands out, and where it falls short compared with other secured loan lenders.
Advantages
High loan-to-value availability
Tandem's willingness to lend up to 100% LTV sets it apart. If you've built up substantial equity but need to access most of it, few lenders offer this flexibility, particularly if property values have risen since you bought.
No minimum property value
Unlike competitors who require properties worth at least £75,000 or £100,000, Tandem has no such restriction, which opens doors for homeowners in lower-value areas or with smaller properties.
Green EPC discount
The discount for energy-efficient homes rewards eco-conscious homeowners. If your property has an EPC rating of A or B, you could save meaningfully over your loan term.
Flexible terms
With terms ranging from 3 to 30 years, you can structure your loan to match your budget. Shorter terms mean higher payments but less total interest; longer terms spread the cost but increase overall borrowing.
Adverse credit consideration
Through its tiered product system, Tandem can consider applicants that mainstream lenders would reject. If you have CCJs, defaults, or past missed payments, you may still qualify, though at a higher rate tier.
Disadvantages
Lower maximum loan amount
The £250,000 cap is lower than some competitors. United Trust Bank and Pepper Money, for example, both go up to £1,000,000. If you need substantial borrowing, Tandem might not meet your requirements.
Broker-only applications
You can't apply directly to Tandem for a secured loan - you must go through a broker. While a broker can provide valuable guidance, this adds another party to the process and potentially additional fees.
Maximum age restriction
With a maximum age at end of term of 75, older borrowers may find their options limited. If you're 60, for example, the longest term available would be 15 years.
Limited customer service channels
Without live chat or branch access, you're reliant on phone and email for support. Some customers report difficulties reaching service teams during busy periods.
Here's how Tandem Bank stacks up against three other well-known secured loan lenders.
Pepper Money is currently one of the largest providers of secured loans in the UK market. It offers higher maximum loans (up to £1,000,000 versus Tandem's £250,000) but requires a minimum property value of £75,000.
Consider Tandem if: you have an energy-efficient home, need high LTV, or have a lower-value property.
Consider Pepper Money if: you need to borrow more than £250,000 or want access to a wider range of loan sizes.
United Trust Bank offers larger loans (up to £1,000,000) and both fixed and tracker rate options. However, it requires a minimum property value of £90,000 and its maximum LTV is 90%, compared with Tandem's 100%.
Consider Tandem if: you have a lower-value property, need to maximise LTV, or want the EPC discount.
Consider United Trust Bank if: you need a larger loan amount, prefer tracker rates, or want the option to apply directly.
Norton is a long-established specialist, lending since 1985, offering loans from as little as £5,000. It also accepts shorter minimum terms (from 1 year) and allows direct applications.
Consider Tandem if: you need higher LTV (up to 100% versus 85%) or want the green discount.
Consider Norton if: you need a smaller loan amount, prefer shorter terms, or want to apply directly without a broker.
Tandem is particularly competitive for high LTV lending (85-100%), energy-efficient properties, lower-value properties with no minimum value requirement, and green home improvements.
Consider other lenders if you need more than £250,000, you'd prefer to apply directly without a broker, you're over 60 and need a longer term, or you want live chat customer support.
High LTV borrowers: if you need to borrow a large percentage of your available equity, Tandem's 100% LTV offering is among the highest in the market, and its rates at these higher LTVs also tend to be more competitive than many alternatives.
Eco-conscious homeowners: if your property has an A or B EPC rating, the rate discount genuinely rewards energy efficiency. If you're borrowing to make green improvements, Tandem's focus on sustainable lending might also appeal.
Owners of lower-value properties: without a minimum property value requirement, Tandem opens doors that other lenders close. If your property is worth less than £90,000, your options elsewhere are limited.
Those with minor adverse credit: if you have some credit issues, such as a past CCJ, a default, or missed payments, but aren't in severe difficulty, Tandem's tiered products can accommodate you at an appropriate rate tier.
Large borrowers: if you need more than £250,000, Tandem can't help. Consider United Trust Bank, Pepper Money, or other lenders with higher maximum loans.
Direct applicants: if you'd prefer to manage your application directly without a broker, Tandem isn't an option. Consider Norton Home Loans or United Trust Bank instead.
Older borrowers: if you're approaching 60 or older and need a long repayment term, the maximum age of 75 at the end of the term may restrict you. Specialist later life lenders may offer more flexibility.
Those needing immediate access: while Tandem's average timeline of around 13 days is reasonable, it's not the fastest in the market. If you need funds urgently, discuss timelines with your advisor.
Tandem could work for you if:
Consider alternatives if:
Tandem Bank has carved out a distinctive position in the secured loan market by combining digital efficiency with genuinely flexible lending criteria. Its willingness to lend at high LTVs, absence of a minimum property value requirement, and green EPC discount make it stand out from more conventional competitors.
The Oplo acquisition brought genuine lending expertise to Tandem's digital banking platform, and its average processing time of around 13 days suggests the integration has worked well.
Tandem Bank delivers genuine value for homeowners who need flexible secured lending, particularly those with high LTV requirements (85-100%), energy-efficient properties, lower-value homes, or minor adverse credit situations.
It's not the right choice if you need more than £250,000, prefer direct applications, or need the fastest possible processing.
We'd recommend Tandem for:
Look elsewhere if:
We connect you with specialist advisors who have access to Tandem Bank and a wide range of its competitors. We compare options from a wide range of lenders to help you find what suits your circumstances, with no pressure to proceed.
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Common questions
Yes. Tandem Bank Limited is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. It's a fully licensed UK bank, meaning eligible deposits are protected up to £85,000 under the Financial Services Compensation Scheme. The company has been operating since 2014 and acquired Harrods Bank's banking licence in 2018.
Tandem's secured loan offering comes from its 2022 acquisition of Oplo, which had been lending since 2009 (originally as 1st Stop Group). So while Tandem as a brand is relatively new to secured loans, the underlying lending operation has over 15 years of experience.
Yes. Tandem Bank Limited is authorised and regulated by the Financial Conduct Authority. You can verify this directly on the Financial Conduct Authority's register.
You'll need to apply through a broker - Tandem doesn't accept direct applications for secured loans. An advisor can compare Tandem with other lenders on your behalf and guide you through the application process.
Tandem provides decisions in principle within seconds after the initial soft credit check. The full process from application to receiving funds typically takes around 13 days for straightforward cases, though complex applications may take longer.
Not initially. The first check is a soft search that doesn't appear on your credit file or affect your score. If you accept a quote and proceed with a full application, Tandem will carry out a hard credit search that will be visible to other lenders.
You'll typically need proof of identity (passport or driving licence), proof of address (utility bill or bank statement), income evidence (payslips and P60 for employed applicants, or SA302 and accounts for self-employed applicants), and recent bank statements. Your advisor will provide a full list based on your circumstances.
Tandem doesn't publish a specific minimum credit score. Instead, it assesses applications individually across its tiered product range. The Tandem Zero product is for clean credit profiles, while Tandem One, Two, and Three can accommodate various levels of adverse credit at higher rate tiers.
Yes. CCJs don't automatically disqualify you, though they may affect which product tier you qualify for. CCJs for utility and communications providers under £350 don't count toward tier assessment. CCJs don't need to be satisfied, but balances over £2,000 require underwriter review.
Yes. Tandem accepts self-employed applicants who have been trading for at least 3 years under the same company name. You'll need to provide your latest SA302 tax calculation, HMRC tax overview, and accounts certificate. If your income has dropped by 30% or more year-on-year, you'll also need 3 months' business bank statements.
You must be at least 21 to apply, and the maximum age at the end of your loan term is 75. So if you're 65, the longest term available would be 10 years.
At higher LTVs (85-100%), Tandem's rates tend to be more competitive than many lenders offering similar levels of borrowing. For lower LTV and cleaner credit profiles, the market is more competitive, so it's worth speaking to an advisor to compare Tandem against a wide range of other lenders.
Tandem charges a lender fee that varies by product. You'll also pay broker fees, since applying through a broker is required, typically up to £2,495 or 8% of the loan. Broker fees can be added to the loan. Valuation fees may apply if a physical valuation is needed, though many applications use free automated valuations.
Yes. If your property has an EPC rating of A or B, you could receive a discount off your interest rate. This is part of Tandem's green lending initiative.
No. Loan Logics confirms you can make extra payments at any time, for any amount, without penalty. This is one of its key differentiators from most secured loan providers.
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