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Compare Best secured loans

Secured loans can let homeowners borrow larger balances at lower rates for longer. The best lenders offer the lowest rates. Compare secured loan rates to get the cheapest deal.

Why choose Secured Loans?

if you’re absolutely sure you’ll be able to keep up the repayments a secured loan could be a good option as you’re likely to get a lower rate of interest, be able to borrow more (if you need too) and receive potential longer repayment terms, allowing you to spread the cost over a few years (be aware though the longer the term of the loan, the more interest you will pay.)

A secured loan could also be an option if you need to consolidate debt from credit cards or unsecured loans with higher interest rates. Secured loan rates can be an effective way of bringing your borrowing under control.




Overall maximum APR example:

Overall cost of comparison

Interest rate

8.6% APRC representative

6.25% variable for 14 years (168 instalments of £332.75pm)

Based on borrowing

Total amount payable

£30,000 over 168 months

£55,902 inc. interest of £18,707

It’s important to remember every time you are refused an application for a loan it may impact your credit rating. It is advisable to only apply for the loans that you are confident of being accepted for.

Warning: Late repayments can cause you serious money problems. For more information see our debt help guides.

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Secured and homeowner loans

Secured loans, also referred to as home loans, second-charge mortgages or homeowner loans are a special form of secured loan attached to your property.

Why choose a secured homeowner loan?

Homeowner and secured loans are all about borrowing a large sum of money, typically from £5,000 onwards. This is because normal unsecured personal loans are usually only available up to £35,000.

How much can you borrow on a secured loan?

The loan amount you can borrow through a secured loan will depend on the value of the equity in your home, your credit score, your income, and your financial commitments.

For example, if you live in a £400,000 home, but have a £370,000 mortgage and a poor credit score, it’s unlikely you’ll be able to borrow the maximum amount typically offered by secured loans of £100,000.

What are the advantages of a secured loan?

The main advantage of a secured loan is the amount of money you can get access to at relatively short notice. What’s more, the interest rates on offer are fairly typical, and comparable to smaller loan amounts. Finally, you’ll pay off the loan in a series of regular payments, meaning you should be able to plan your repayments accordingly.

What are the disadvantages of a homeowner loan?

The main disadvantages are related to the huge risk in taking out a homeowner loan should you fall behind in your repayments. If you fail to keep up your payments on a normal loan it will damage your credit score, lead to a repayment plan and, in the worst case, end up with you declaring bankruptcy.

But with a homeowner loan the downsides are far more acute. Failing to maintain your payments on a homeowner loan could mean losing your home. That means you should only ever consider taking out a secure loan if you are sure you can maintain your payments, have access to another source of credit in the event of an emergency, or have no other option.

What’s more, the main benefit of a secured loan – namely the huge size of the loan you could potentially get – is entirely contingent upon your credit file, which will impact the interest rate you are offered.

Finally, homeowner loans may also be subject to high upfront fees.

What can you do if you don’t want a homeowner loan?

The main alternative to a secured loan is to remortgage your property, although this still means the same risks and dangers apply. If you have a large amount of equity in your home you may be offered a very competitive rate, but you must at all costs keep up your repayments.

Who do we include in this comparison?

We include unsecured loans you can get in the UK from our panel. Like other comparison sites, we make money when you click through to a product or service, or go on to purchase it after visiting our site. If you use one of our broker services, we make commission after you buy a product, but it doesn’t cost you anything extra. Our comparisons are free for you to use and you get the same or a better deal than going direct.