Bad Credit Secured Loans

  • We've teamed up with the UK's favourite secured loan broker* Fluent Money who help borrowers with bad credit apply for a secured loan
  • Homeowner secured loans usually have to be applied for through a broker using your property as security
  • Use the calculator below and get a free no obligation quote that won’t affect your credit rating
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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 a loan or any other debt secured on it. Click here for a representative example
    • Masthaven Bank Ltd logo

      Masthaven Bank Ltd

      • Initial Rate
        5.74%
      • Total Repayments
        £19,749.48
      • Monthly Repayments
        £164.58
    • Prestige Finance Limited logo

      Prestige Finance Limited

      • Initial Rate
        7.25%
      • Total Repayments
        £21,132.19
      • Monthly Repayments
        £176.10
    • Central Trust Ltd logo

      Central Trust Ltd

      • Initial Rate
        9.50%
      • Total Repayments
        £23,291.56
      • Monthly Repayments
        £194.10
    • Norton Home Loans logo

      Norton Home Loans

      • Initial Rate
        10.80%
      • Total Repayments
        £24,591.66
      • Monthly Repayments
        £204.93
    • Step One Finance Limited logo

      Step One Finance Limited

      • Initial Rate
        11.90%
      • Total Repayments
        £25,720.82
      • Monthly Repayments
        £214.34

Please note: Loans displayed have a minimum term of 12 months and a maximum term of 300 months. Maximum APRC charged 49.9%.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
Overall Representative Example for Bad Credit Secured Loans from Fluent Money
Based on borrowing £19,000 over 156 months (13 years). Interest Rate: 10.0%. Maximum APR: 49.9% Total amount payable £38,274.60
Fees Broker Fee £1995.00 / Lender Fee £380.00 Overall cost of comparison 13.1% APRC
Our comparison service features a selection of providers from whom we receive commission.
This table is ordered by initial rate.
*Fluent Money completes more secured loans than any other broker

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Secured Loans FAQ

Secured loans, sometimes known as home owner loans are secured against your property and sit behind your first charge mortgage. The lender uses your property as security for the loan.

Secured loans offer the option of borrowing larger sums of money than you might be able to with a personal loan. By assessing the equity in your property this determines what amount you could borrow.

Secured loans are less risky for lenders - which is why they're cheaper than unsecured loans, but they present risks to you as a borrower because your home or property may be repossessed if you do not keep up with repayments.

Below are some of the most frequently asked basic questions about secured loans. Just click on the question headings to see the answer.

What is a Secured Loan?

Secured Loans are only available to property owners with a mortgage. Due to the loan being secured against the property it means that should you not be able to repay your loan the lender may repossess your property to reclaim their money. The ‘secured’ aspect of a secured loan offers security to the lender.

What are The Benefits of a Secured Loan?

Borrowers consider secured loans for a variety of different reasons, for instance:

- They’re easier to obtain – Secured loans are almost always more accessible, particularly for those with less than perfect credit scores, subject to other lending criteria.
-You can borrow larger sums; The maximum amount that lenders are willing to offer for secured loans depends upon the equity available in your property. The amount offered is typically higher than what may be available for unsecured loans.
- You can borrow for longer: Secured lenders allow loans to last for longer - as this helps to offset large set-up costs. Remember, while borrowing for longer reduces your monthly repayments, it also increases the total interest you pay.

What Will My Interest Rate Depend On?

The interest rate that you're offered for a secured loan will depend on the size of the loan, the repayment terms offered, your credit score, and the equity available in your home. It's generally the case that people with higher credit scores will get a better deal.

How Do I Work out the Real Cost of my Secured Loan?

While the APR (Annual Percentage Rate), is often very prominent in loan terms, it's not the only figure worth considering. Focus on your monthly repayment and the "Total Amount Payable". The Total Amount Payable includes charges and fees, and offers a much clearer representation of how much any loan will cost you.

If you cannot find this information on the lender's website, you will be able to see it on the pre-contract credit information form given by the lender before you enter into a loan agreement.

How Long Should I Borrow for?

With secured loans, it's best to look at your budget and work out the maximum amount you can commit to repaying each month using a budget planner. Don't overestimate your available cash, or you could end up being unable to make repayments, risking your home, and your financial stability. Good planning is crucial.

What if I Miss Repayments?

In a worst-case scenario, missing repayments on your secured loan could lead to the repossession of your home. However, it is possible to speak to your lender if you feel that you might not be able to make repayments, as some will be willing to re-negotiate your situation and give you another chance when it comes to paying what you owe.

If you're worried you might not be able to make an upcoming payment, it's advisable to talk to your lender sooner rather than later to see if an arrangement can be made.

How Can I Get the Best Secured Loan Deal?

Secured loans, like many loans, are subject to competition amongst providers and market forces. There are various providers whose rates may change regularly, and shopping around will give you the best chance of getting a good deal.