Cheapest Secured Loans
- Rates from 4.00% APRC
- Rep. 9.1% APRC
- Fixed rates available
- 95+% LTV / Bad Credit OK
Choose the amount you need and we’ll show you the best deals, ordered by lowest “initial rate”.
This table is ordered by initial rate. Use the options above the table to help focus on lenders who may be able to provide a quote. Our comparison service features a selection of providers from whom we receive commission.
Representative example: Borrow £18,000 over 120 months at a rate of 7.3% per annum (partly fixed/partly vrbl). Repay £228.99 per month. Total to repay £27,478.80 comprising interest (£7,453.80), broker fee (£1,530) and lender fee (£495). Total overall cost 9.1% APRC.
Minimum Term 12 months | Maximum Term 300 months | Maximum APR 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 OTHER LOAN SECURED ON IT.
The lender deals are ordered based on the initial rate of interest. You can use these results to create a shortlist. Click through to get full quotations and start your application.
Complete your application which will include a property valuation, and credit & affordability checks.
Within two to three weeks all the processing of your application should have been completed and you will receive your loan.
We probably have access to the widest panel of lenders in the UK (currently 15), who between them have hundreds of loan deals available, if we can’t find you the best secured loan deals then we doubt anyone can!
All our lenders are well funded and eager to lend if your circumstances allow it. While most loans are at variable rates there are fixed-rate loans available too.
Due to the nature of this product there are lender setup fees and broker fees, but these are shown as part of the total deals so you can make reasonable comparisons. The representative rate is currently 9.1% APRC (which includes fees).
To compare loan deals you need to:
Obviously, prior to any final loan payouts by lenders, a credit check will be done as well as a proper valuation of your property.
You may wish to quickly see the total costs associated with a secured loan and to judge if one is likely to be affordable over the time frame you have in mind. Use the repayment calculator (select “secured” as the “loan type”) – take care as it uses the representative APR; your quotes are almost certainly going to be different. So it makes sense to get proper lender quotes now.
The % rate you will be offered for your secured loan is influenced by:
1 If your secured loan were a high % of the free equity in your property and the value of your property fell then the lender’s loan might not be fully protected. So, the interest rate charged tends to rise as the LTV% rises.
So to minimise the total cost of your loan, as well as to get the lowest APR%, you should:
Even if your credit rating is poor you may find that a secured loan is still cheaper than alternatives that offer the lender no security.
If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.
The majority of secured loans have variable rates and many deals will have a so-called “initial rate” lasting a short period of time. Secured loans are usually repaid over an extended period of time during which market interest rates can fluctuate considerably. Consequently, lenders usually offer variable rates to reflect this. However, there are fixed rates available but the duration and rate offered may not necessarily meet your requirements.
You will find the cheapest rates today by using the comparison table above – simply input the loan amount you need and the period over which you’d like to repay it.
By varying the loan amount and repayment period you will also discover how the initial interest rate changes. But keep in mind that the cheapest interest rate should not be your only consideration when choosing your deal. You ought also to consider fees and other factors (e.g. early repayment) that could be important to you.
Market conditions (e.g. the economy & Bank of England policies) are significant underlying factors, but in addition to this are those aspects specific to your personal circumstances and your finance needs. These include:
The easiest way to do this is to use our comparison table above which lists the up to date results for you. It ranks the available deals with the lowest initial rates first. Keep in mind that initial rates are just that – they don’t last, and that with secured loans there are various fees to be accounted for which the table cannot display.
In other words, when choosing your secured loan deal you need to take into account more than just the interest rate. Fees and other terms such as early repayment options, or the ability to add to the loan amount, may be important for you to consider too.
We work with an extensive panel of UK lenders. Currently, it is around 15 lenders who between them offer over 600 secured loan deals. By far the easiest way for you to find out the deals available right now is to use our loan comparison tool that will list and rank all those that match your desired loan value and the repayment period.
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