Compare Secured Loans


We’ll find the right Secured Loan for you. Our partnership allows you to compare Loans with leading experts.

If you’d like to speak to the friendly UK based team please call – 0800 470 3750


WHAT IS A SECURED LOAN? 


A secured loan, also referred to as a homeowner loan, is a way of borrowing money against an asset, for example your home. Due to the fact the lender has a “collateral”, secured loans can be used to borrow large amounts in comparison to an unsecured loan, and they also generally offer lower interest rates.

With a multitude of providers out in the market, it can be difficult to know where and how to compare lenders.

SavingSuperStore can fill that void, our chosen partner Fluent® allow you to search the market for the right deals catered to your financial situation and needs. Better yet loan searches are “soft” meaning a search will not affect your credit rating and you’ll be able to see your chances of acceptance prior to applying.


Is a Secured Loan the right option for me?

secured loan

Deciding if a secured loan is the right choice for your needs will depend on your individual financial situation. As with all financial related products, you should always carefully consider your options, since you could risk losing your collateral if you were unable make your repayments. There are however good reasons to consider a secured loan:

More Affordable

A Secured loan normally offers much lower interest rates, therefore if you’re confident that you can pay back what you owe, then you could save money.

credit rating loans

Less Focus on Credit Ratings

A Secured loan is backed by lender confidence, so unlike other un-secured financial products, it is possible to get a loan with a low credit score. CCJ’s, defaults and arrears are also accepted.

Bigger Borrowing

Secured loans will often let you borrow large amounts of money, they can allow a sum up to £1 million. You can obtain a secured loan for almost any purpose, a common use is for home renovations.

loan repayment

Longer Repayment Terms

You can choose to repay your loan over much longer periods with secured loans. You will of course pay interest, but your monthly repayments will be lower. Un-secured loans are required to be repaid in shorter timeframes, usually having a maximum term of 7 years.

Uses for secured loan

Potential Uses for a Secured Loan

Secured Loans enable homeowners to use equity within their home as a finance tool. This could be for:

-Home improvement such as an extension
-To obtain funding for a business
-Funds to buy a second property
-Funding if a low credit score means you will find it difficult to obtain a personal loan



THE DIFFERENCES BETWEEN SECURED LOANS AND UN-SECURED LOANS?

secured loans

Secured Loans

– Obtained with collateral – your loan is tied to your property

– More acceptable for poor credit – Secured loans offer a low risk to lenders, allowing you to get a loan with a lower credit rating

– Wider Borrowing – Secured loans enable you to borrow larger sums of money and pay it back over a period of up to 25 years

unsecured loans

Un-Secured Loans

– Obtained without collateral – However, if you default it may become difficult get credit in the future

– Terms are variable – Un-secured loans rarely go over £25,000 or over 7 years, the interest rate will be dependant on your credit rating

– Strict Requirements – As there is no collateral lenders will look to focus on your credit score making it harder to get a loan if your credit score is low or you have had debt problems in the past

Can I get a secured loan with bad credit?


Yes you can get a secured loan, even if you have a lower credit score. The lender will deem their risks to be lower given a secured loan is only taken with a collateral.

If you opt for a secured loan and keep up with all your repayments as expected, you could even improve your credit score, which in turn will make it easier to obtain credit in the future. You should always understand risks associated with any finance related products. If you were to fall into financial difficulties and become unable to pay back your loan, it is possible you could lose your collateral. If this were to occur, you should contact your lender immediately.


How to apply for a Secured Loan

Searching for a Secured Loan with SavingSuperStore is simple with our partnership with Fluent®

You will you get access to their expert UK advisors and get a quote in minutes!

Tell Us About Yourself

Let us know a few details and we’ll do the hard work!

Our partner will search the market

Showcasing the loans you’re eligible for, with no impact to your credit score.

savingsuperstore price comparison

Discuss your options

You will be contacted to discuss your personalised loan options. Once you’re happy, a full application will be made.



FAQS

Secured Loans enable homeowners to use equity built up within their home as a finance tool. This could be for:

-Home improvement such as an extension
-To obtain funding for a business
-Funds to buy a second property
-Funding if a low credit score means you will find it difficult to obtain a personal loan

Yes, a secured loan can be easier to obtain, even if you have a lower credit score. Some loan providers are more inclined to lend money to someone with bad credit given they are putting up a security.

This does depend on the provider, but while most lenders are prepared to offer secured loans to a broader range of customers, it is still possible to have a credit score a lender deems as too low, to which they may refuse a loan. Our partner will of course search the wider market to find something suitable for your needs, but as with all credit, it is subject to approval.

If you are interested in a secured loan you can apply for one through our partner, who will require a few details about yourself and your finances. If you are approved for a secured loan, you should receive the money in 2-4 weeks.

Yes, there is the potential to pay off a secured loan early, however this will depend on your lender. As with all credit related products, some lenders may charge early repayment fees, so it is important to check terms, and only borrow what you need.

As per other types of loan, if you manage to meet your secured loan monthly repayments in full and on time, you should see an improvement in your credit score.

This depends on your individual circumstances. An unsecured loan does not require collateral, however, if you need a substantial sum of money and you are confident you will be able to make your repayments, a secured loan might be more suitable.

Another factor you should always consider is the APR you are offered by your lenders, a secured loan with a lower rate of APR may be a better option than an unsecured loan with a high APR.





Your property may be repossessed if you do not keep up repayments on your mortgage.

Think carefully about securing other debts against your property. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the term of the debt and increasing the total you repay.

Fees may be charged dependant on provider. 

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Company Number: 14048499 | FRN: 979189 | ICO: ZB331585

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