Secured Personal Loan

Let us help you find the best secured personal loan deal

If you are looking for a secured personal loan, we can help you find the most competitive deal on the market.

As well as offering home loan deals offered by lenders for people with good credit histories we also work with secured personal loan brokers who search the UK secured loans market to find you the best rate.

• Secured Personal Loans from £10,000 to £2.5m

• Adverse Credit and CCJs loan applications considered

• Loans Up to 30 years

• Leading UK secured lender deals compared

For the latest secured loan deals see the latest deals above or contact us on 0117 313 8872 or complete our loan enquiry form

Secured Personal Loan

A secured personal loan, sometimes known as a second charge mortgage or homeowner loan, allows you to borrow large sums of money (usually £10,000 upwards) using collateral such as your home as security against repayments.

As a general rule, the amount that you borrow is most likely to be determined by the value of your equity, or in some cases the value of the asset. Whereas the amount of interest payable and the length of the borrowing term are more likely to depend on your individual financial circumstances and credit rating.

Is a secured personal loan suitable for me?

Like any financial product, there are both pros and cons to taking out secured personal loans, and whether it is the right decision for you to take out a secured personal loan is likely to depend on your situation and the circumstance. A few instances when borrowers might be advised to consider a secured personal loan are when:

You’ve already got an excellent mortgage rate – If you’ve already got an unbeatable rate on your mortgage, a secured loan will allow you to secure the additional capital you need without disrupting the current rate you have on your mortgage.

You’ve got an adverse credit rating – Typically lenders of secured personal loans tend to have more flexible lending criteria and are likely to consider a much wider and sever range of credit issues.

You need the money quickly –Generally, the time it takes from application to receiving the money is much quicker than a mortgage. Secured loans are often quick to set up and in cases where the LTV is low and a valuation isn’t needed, money can be released the same day.

You struggle proving your income – Secured loan lenders can be more flexible and understanding when it comes to proving your income, which means it is often easier for self employed borrowers and contractors to secure the finances they need.

You want to raise capital up to 95% of the value of your property – Some secured loan lenders are happy to lend up to 95% of the property’s value, providing that you meet their criteria.

Criteria for a secured personal loan

Secured loan 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 personal 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 personal 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 personal loans, you must be confident that you can make the monthly repayments on time.

Find the Best Deal

Taking out a secured loan against one of your assets (especially your home) is a big investment, which is why you should ensure that you have the capacity to afford the repayments. Whilst our secured loan calculator can assist you in filtering out a selection of secured loans that fit your criteria, we still urge that you contact a mortgage broker to assist you.

We have a specialist secured loan advisory team, who can help you calculate the secured loan terms that you can comfortable afford. Additionally, our expert team can also compare a range of leading and exclusive secured loan deals, to help find the ideal loan perfect for your personal circumstances.

For the latest secured loan deals see the latest deals above or contact us on 0117 313 8872 or complete our loan enquiry form