EV ZoneCompare Secured Loans
Compare secured loans and second charge mortgages from a panel of UK lenders via Brumble. Homeowners can borrow larger amounts at lower rates by using their property as security. Check your eligibility with a soft search that will not affect your credit score. Representative 11.8% APRC (variable).
Brumble works with ClearScore, a credit broker, to help you compare secured loan options from a panel of lenders.
Both Brumble and ClearScore are credit brokers, not lenders.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
Compare Secured Loans from Trusted UK Lenders
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How Does a Secured Loan Work?
Checking your eligibility for a secured loan via Brumble is straightforward. A soft search lets you see your options without affecting your credit score.
Check Your Equity
Enter your property value and existing mortgage balance. We will estimate how much equity you have available to borrow against.
See Your Options
A soft search checks your eligibility across a panel of second charge mortgage lenders. It will not affect your credit score.
Choose and Apply
Pick the offer that works for you then complete your application. A full property valuation and legal process will follow.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
Secured Loan Calculator
Use our secured loan calculator to estimate your available equity and monthly repayments. Enter your property details and the amount you want to borrow.
Part A: Equity Checker
Available equity
£120,000
Estimated maximum borrowing
£75,000
Most lenders allow up to 85% combined loan-to-value. Some specialist lenders may go higher.
Part B: Repayment Calculator
Capped at your maximum borrowing (£75,000)
Representative example: If you borrow £30,000 over 15 years at a rate of 11.8% APRC (variable), your monthly repayments would be £356.20. The total amount repayable would be £64,115.88. Total cost of credit: £34,115.88. The rate you are offered may differ based on your individual circumstances. Your home may be repossessed if you do not keep up repayments.
This calculator is for illustration only. Secured loan rates, fees, and terms vary by lender and depend on your property value, equity, credit history, and income. A full property valuation will be required as part of any application.
What Is a Secured Loan?
A secured loan lets you borrow money using your property as collateral. It is also known as a second charge mortgage or a homeowner loan. These are all names for the same product.
Your existing mortgage is the first charge on your property. A secured loan adds a second charge. This means the loan is secured against your home in addition to your mortgage. If you cannot keep up with repayments on either your mortgage or the secured loan, your home could be repossessed.
Because the lender has security against your property, secured loans typically offer larger borrowing amounts than unsecured personal loans, which usually cap at around £35,000. Secured loans can range from £5,000 to £500,000 depending on your equity, and terms can run from 1 to 30 years.
The first charge lender (your mortgage provider) has priority in any repossession. The second charge lender recovers their debt from whatever remains after the first mortgage is settled. This is why secured loan rates are typically higher than first charge mortgage rates, but lower than unsecured personal loan rates.
Secured Loan or Remortgage?
If you need to raise funds as a homeowner, the two main options are a secured loan (second charge mortgage) or remortgaging. The right choice depends on your existing mortgage terms.
Secured Loan May Be Better When...
- You have a low rate on your existing mortgage that you do not want to lose
- Your current mortgage has high early repayment charges
- You need funds quickly (secured loans can complete faster than a remortgage)
- You only need to borrow a smaller amount on top of your existing mortgage
- Your credit score has dropped since you took out your mortgage
Remortgaging May Be Better When...
- You can get a competitive rate on your whole mortgage balance
- Your current deal is coming to an end with no early repayment charges
- You want to consolidate everything into one monthly payment
- You have strong credit and can access mainstream mortgage rates
If you are unsure which option is right for you, consider speaking to a qualified mortgage adviser. They can compare the total cost of both options based on your individual circumstances.
Classic, Prestige, and Performance Car Finance
Buying a classic car, supercar, or high-performance vehicle often means spending £40,000, £60,000, or well beyond. At these amounts, an unsecured personal loan usually will not cover the purchase, and dealer finance may come with unfavourable terms or restrictive conditions.
A secured loan lets you borrow against the equity in your home to fund a high-value vehicle purchase. Because the loan is secured, you may be able to access larger sums at lower rates than unsecured borrowing. The value of any vehicle, including a classic car, can go down as well as up, so this is never guaranteed.
With a secured loan, you own the vehicle outright from day one. There are no mileage restrictions, no balloon payments, and no requirement to buy from an approved dealer. You can buy privately, at auction, or from a specialist dealer, giving you access to the widest range of vehicles.
For vehicles under £35,000, a personal loan may be a better option because it does not put your home at risk. If you are buying from a dealer, PCP and HP are also options for cars from dealers.
Before buying any high-value used or classic car, a vehicle history check is essential. Brumble offers a premium vehicle report covering outstanding finance, write-off status, mileage discrepancies, and more.
What Can You Use a Secured Loan For?
Home Improvements
Fund a new kitchen, extension, loft conversion, or full renovation. You are investing back into the asset that secures the loan, which can increase your property value.
Debt Consolidation
Combine multiple debts into one monthly payment at a potentially lower rate. Think carefully before securing other debts against your home. If you cannot keep up repayments, your home is at risk.
Classic and Prestige Vehicles
Buy a high-value car, classic, or supercar using equity in your home. Own the vehicle outright with no mileage limits.
Learn more ↓Buy-to-Let Deposit
Use equity in your home to fund a deposit on a rental property. Some lenders specifically cater to buy-to-let secured loans.
Large Purchases
For amounts above £35,000 where an unsecured personal loan does not reach, a secured loan provides access to larger sums over longer terms.
Secured Loans with Bad Credit
Because a secured loan uses your property as collateral, some lenders are more flexible on credit history than they would be for unsecured lending. If you have been declined for a personal loan, a secured loan may still be an option as long as you have sufficient equity in your home.
The rate you are offered will depend on your individual circumstances, including your credit history, income, property value, and the loan-to-value ratio. A higher LTV or lower credit score will typically mean a higher rate and higher monthly repayments.
If you are declined or unhappy with the rates available, the same steps that improve your chances with unsecured borrowing apply here too: check your credit file for errors, get on the electoral roll, pay existing bills on time, and avoid multiple credit applications in a short period.
What Documents Do I Need for a Secured Loan?
Applying for a secured loan involves more paperwork than an unsecured personal loan because the lender needs to assess both your finances and your property. Having the right documents ready can speed up the process. Most lenders will ask for:
- Proof of identity (passport or driving licence) and proof of address (utility bill or bank statement)
- Proof of income: recent payslips if employed, or SA302 tax calculations and tax year overviews if self-employed
- Your latest mortgage statement showing your current balance, monthly payment, and lender name
- Details of the property being used as security, including the address and your estimated property value
- A summary of any existing debts you want to consolidate, including balances and monthly payments
- Bank statements from the last three months (some lenders may ask for longer)
A solicitor is required as part of the secured loan process. They handle the legal charge registration against your property. Some lenders include the legal fees in their arrangement, while others require you to appoint your own solicitor. Your lender or broker will confirm which applies.
The whole process typically takes four to eight weeks from application to funds being released, though this can vary depending on the lender, the complexity of your case, and how quickly the property valuation and legal work are completed.
Bridging Loans
A bridging loan is a form of short-term secured borrowing, typically lasting from a few weeks up to 12 or 18 months. Like a second charge mortgage, it is secured against property. Bridging loans are used when you need funds quickly and plan to repay the loan within a short period.
Common uses include buying a property at auction (where completion is usually required within 28 days), bridging a gap in a property chain (buying a new home before your existing one has sold), or funding a renovation project where the property will be remortgaged or sold once the work is complete.
Bridging loan rates are significantly higher than standard secured loans, typically charged monthly rather than annually. An arrangement fee of 1% to 2% of the loan amount is common. Because of the higher cost, bridging finance is best suited to short-term needs where speed is more important than rate.
Bridging loans are a specialist product. If you are considering one, it is worth speaking to a qualified broker who can compare options across the market. Brumble does not currently offer bridging loan comparison, but we include this section for completeness as it is a form of secured borrowing that homeowners may encounter.
Ready to compare secured loans?
Check your eligibility in minutes. One soft search, no impact on your credit score.
Check Your EligibilityRepresentative 11.8% APRC (variable)
Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it.
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Borrowing Responsibly
Only borrow what you need and can comfortably afford to repay. Before taking out a personal loan, make sure the monthly repayments fit within your budget.
Use our free Budget Planner to check what you can afford.
If you are struggling with existing debt, free and confidential help is available. Contact StepChange on 0800 138 1111, National Debtline on 0808 808 4000, or Citizens Advice.
Secured Loan FAQs
Common questions about secured loans, second charge mortgages, and borrowing against your home.