A secured loan allows you to borrow money using a property you own as security. As the borrowing is secured against an asset, lenders may offer larger loan amounts or longer repayment terms than are available with some unsecured products. However, your property could be at risk if you do not maintain the repayments.

The amount you may be able to borrow will depend on factors including your property’s value, available equity, income, affordability and overall financial circumstances. Secured loans may offer access to larger amounts than unsecured borrowing, making them an option for funding more significant financial plans.

Yes, you may still be eligible for a secured loan if you have experienced credit difficulties. Specialist lenders may consider your wider circumstances and could accept applications involving CCJs, defaults, missed payments or other credit issues. However, acceptance will depend on the lender’s criteria, your available property equity and whether the repayments are affordable.

Secured loans can be used for various purposes, including home improvements, debt consolidation, property investment, significant purchases or other personal expenses. As they may provide access to larger borrowing amounts, they can offer homeowners a flexible way to fund more substantial plans.

Timescales vary depending on the complexity of the application, the lender’s requirements and whether property valuations are required. Our team works closely with lenders throughout the process to ensure applications progress as smoothly as possible while keeping you informed at every stage.