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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
sorted by: Cheapest overall cost
Overall representative example
Based on borrowing
£40,000 over 13 years
The overall cost of comparison
8.6% APRC representative
Interest rate
6.85% variable for 13 years(156 instalments of £419.95pm)
Broker fee
£2,800
Lender fee
£495
Total amount payable
£65,512.20 inc. interest of £22,217.20

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How to get the best secured loan

The right secured loan depends on:
  • How much you want to borrow
  • How long you need to pay it back
  • How much your property is worth*
* Minus any outstanding mortgage balance.
The best way to get the right secured loan is to
Most lenders only work with brokers rather than offering direct loans to the public and a good broker could help you find a loan that suits your needs.

Before you contact a broker...

You need to know:
  • How much you need to borrow
  • What you are going to spend it on
  • How much your property is worth, as this is normally used as collateral for your loan
  • The outstanding balance of your mortgage, or any other secured loans
Your broker will then take this information and look for a loan on your behalf.

Check the cost

The main costs of a secured loan are:
  • Interest which will be charged throughout your loan. You may be offered a fixed or variable rate so check before you proceed. With a fixed rate the cost and payments stay the same throughout your loan; with a variable rate they may change.
  • Fees which are normally charged at the start of your loan. These can include broker fees, valuation fees and legal fees.
Check the total cost of your loan before you apply, so you know what you will have to pay.
You can use our loan calculator to estimate what your payments could be.
Here is how homeowner loans work

Should you get a secured loan?

A secured loan is directly tied to something you own, normally your property, putting it at risk if you are unable to pay what you owe.
Before you apply, check if you could borrow what you need with an unsecured loan first.
What are secured and unsecured loans?

Secured loan FAQs

Q
How much can I borrow with a secured loan?
A
This will depend on the value of your property and your income, but secured loans can be anywhere between £1,000 and £2.5 million.
Q
Do I have to be a homeowner to a get a secured loan?
Q
How long does it take to get a secured loan?
Q
Do I have to pass a credit check to get a secured loan?
Q
Who will value my property?

About our loans comparison

Q
Who do we include in this comparison?
A
We include secured loans available directly from lenders and through brokers on our panel. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.
Q
How do we make money from our comparison?

Loan Comparison

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We check out every company we list
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money.co.uk is a trading name of Dot Zinc Limited, registered in England (4093922) and authorised and regulated by the Financial Conduct Authority (415689). Our registered address is: The Castle, Cecily Hill, Cirencester, Gloucestershire, GL7 2EF. We are classed as a credit broker for consumer credit, not a lender.
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