Secured Home Improvement Loans

Top deals

Top rate

AA

5.3%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.3% so if you borrow £10,000 over 5 years at a rate of 5.3% (fixed) you will repay £189.52 per month & total amount payable £11,371.03.

Post Office

5.9%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.9% so if you borrow £10,000 over 5 years at a rate of 5.9% (fixed) you will repay £192.15 per month & total amount payable £11,529.01.

Santander

6.3%
£7,500 - £15k
1-5 years

Check eligibility Representative Example: The representative APR is 6.3% so if you borrow £10,000 over 5 years at a rate of 6.3% (fixed) you will repay £193.91 per month & total amount payable £11,634.61.

Shawbrook

6.6%
£10k - £500k
3-25 years

Check eligibility Representative Example: The representative APR is 6.6% so if you borrow £10,000 over 5 years at a rate of 6.6% (fixed) you will repay £195.23 per month & total amount payable £11,713.96.

Millions of people in the UK are now looking to improve their homes as an alternative to relocating. Improving your home not only makes your property a more enjoyable place to live, but if done correctly, can increase the value for when it’s time to sell. Consequently, if moving house is not a desirable or achievable option to you and you wish to carry out home improvements, you might have considered taking out a secured loan to fund the project.

Benefits of a secured loan for home improvements

A secured home improvement loan is capital you borrow that is secured against an asset that you own (generally your home). Secured loan lenders tend to be flexible in regard to what their borrowers use the capital for, which is why secured loans have become a popular choice for many borrowers looking to make home improvements.

In addition to this flexibility, secured loan lenders tend to allow customers to borrow larger amounts of money and may give a more competitive interest rate, as your home guarantees repayments to the lender. However, it is worth taking into consideration that as your home is used as collateral, failure to keep up with repayments can result in your home becoming repossessed.

Criteria for a secured loan

Secured lenders tend to have more flexible lending criteria than first charge lenders, which mean they usually consider a much wider and sever range of credit issues. Whilst each lenders criteria is likely to slightly vary, some of the typical factors secured loan lenders will look at when considering your application are:

A credit history – Whilst many lenders are willing to offer finance to those with a less than perfect credit history, the amount you can borrow, loan terms and interest rates are likely to vary depending on your credit profile and circumstances.
A UK address – Secured loan lenders usually as that borrowers have been a UK resident for at least three years, and are likely to feel more inclined to lend to you if you have a steady address.
A realistic repayment plan – Whilst interest rates may be more favourable for secured loans, you must be confident that you can make the monthly repayments on time.

Finding the best secured home improvement loan

The majority of secured home improvement loan lenders only work through authorised intermediaries, such as ourselves; which is why we recommend that you contact a mortgage broker to give you the best chances on getting a leading deal on your secured loan. In addition to giving you access to leading and exclusive secured loan deals, our team of specialist secured loan advisors can give you assistance and guidance throughout the whole of the application process, and even beyond this.

If you would like to compare leading secured loan deals why not call us today on 0117 313 8872 for a FREE initial consultation.