Tandem Secured Loan Review: Pros, Cons & Features
You could look into a Tandem secured loan if you want flexible borrowing and repayment options with no minimum property value required. Here’s our Tandem loans review.
Tandem secured loans: at a glance
Tandem offers fixed-rate secured homeowner loans up to a maximum of £250,000. Some lenders offer larger amounts, but with Tandem loans you could borrow up to 100% of the equity in your home, which is more than some lenders we’ve reviewed.
Homeowner loans are a type of secured loan. With these loans, borrowers use their homes as security for the loan they want to take out. This type of loan is also known as a second charge mortgage. Importantly, using your home as security means it could be repossessed by the lender if you fail to make loan repayments when you should.
Get a quote without affecting your credit score.
Information for tenants
You must be a homeowner to apply for a Secured Loan via Norton
If you’re not a homeowner and would still like to search for a personal loan, then you can try searching for an unsecured loan via our loans eligibility service with Monevo.
Tandem Secured Loan
5 to 30 years
£10,000 to £250,000
100%
Fixed Only
- Must be at least 21 years old and a UK resident
This provider is available via our partner, Norton Finance.
Tandem secured loans pros & cons
Pros
- You can borrow up to 100% LTV.
- There is no minimum property value.
Cons
- A higher LTV can be riskier for borrowers.
- The maximum loan amount is smaller than other lenders we’ve reviewed.
The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. This was subsequently reinforced by an additional survey in 2024. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.
Tandem loans overview
Tandem is a UK-based digital bank that offers a range of products for both savers and borrowers, from instant access savings accounts to standard mortgages. As a challenger bank, Tandem says it specialises in ‘green’ products designed to benefit the planet. For example, borrowers taking out a secured home loan could get a 0.3% rate reduction if their home has an energy efficiency rating of A or B.
Tandem secured loans are available for between £10,000 and £250,000, and up to a 100% LTV. The repayment period, over which you can repay the loan, ranges from between five and 30 years.
| Loan amounts | £10,000 to £250,000 |
| Term length | Five to 30 years |
| Maximum loan-to-value (LTV) | 100% LTV |
| Customer support | Phone, email |
| Trustpilot rating* | 4.1 stars (1 May 2025) |
* Rating relates to Tandem’s brand and its whole product range rather than just its home loan.
Where Tandem secured loans stand out
You can borrow up to 100% LTV
Though there is an increased risk involved in borrowing high amounts against the value of your property, Tandem loans can be taken out of up to 100% of the equity in your property. Other secured loan lenders we’ve reviewed tend to cap loan-to-values somewhere between 75% and 85%. However, keep in mind that the maximum loan amount is £250,000.
There is no minimum property value
Some lenders may require a minimum property value of £75,000 or £100,000, but with Tandem there is no such requirement.
Where Tandem secured loans fall short
Limited information available on its website
While Tandem’s website lists various options and terms available for its secured loan, limited eligibility criteria can only be seen in its FAQs section, where it mentions that other terms and conditions and criteria may apply.
Maximum loan amount is lower than other lenders
Borrowers may be able to access up to 100% of the equity in their home, but the maximum loan amount of £250,000 is lower than some of the lenders we’ve reviewed.
» COMPARE: Best secured loans
More secured loan reviews
Take a detailed look at some of the other secured loan lenders we review.
What type of loans does Tandem offer?
Secured loans
Tandem offers secured loans in the form of a homeowner loan, which allows you to borrow funds using the equity in your home as security for the loan.
With these types of loans, it may be possible to borrow larger amounts, at potentially lower rates, than you may be able to with an unsecured personal loan. Unsecured loans mean that you’re not required to put forward a high-value asset as collateral for the loan.
However, it’s vital to be aware that with a homeowner loan, the lender has the option to repossess your home if you fail to make your loan repayments when you should.
How much you’re allowed to borrow will depend on the amount of equity you have in your home, your personal circumstances and credit checks Tandem will carry out on you.
» MORE: What is a secured loan?
Home improvement loans
As part of its specialism in ‘green’ products, Tandem offers home improvement loans to make homes more energy efficient.
It offers these loans through Allium Money, which is owned by Tandem. Allium Money is a specialist lender focused on the green energy sector. But you can’t apply for a loan directly – its loans are only available through third parties and brokers.
» MORE: Secured loans for bad credit
What can I use a Tandem secured loan for?
Tandem home loans can be used for a number of reasons, including to:
- consolidate debt
- cover the cost of home improvements
- cover the cost of making improvements to a rental property
- pay for school fees
- pay for a holiday or wedding
- buy a car
Why do people take out secured loans?
Sometimes people find that they have a better chance of getting a secured loan than an unsecured loan, perhaps because they are self-employed or have a bad credit score. What’s more, the maximum amount available through a secured loan is often greater than what’s available through an unsecured personal loan, so they can help to fund larger purchases.
» MORE: What are the differences between secured and unsecured loans?
Tandem secured loan eligibility criteria
Tandem requires you to be a UK resident, aged 21 or over and a homeowner. You can check that you’re eligible for a secured loan without it affecting your credit score.
There is a minimum net monthly income requirement of £1,300 for a single application and £1,600 for a joint application.
Tandem doesn’t require a minimum property value.
» MORE: Should you take out a loan against your house?
Tandem secured loan features
Rates
Tandem currently offers fixed-rate homeowner loans. With a fixed-rate loan, you get certainty over your monthly repayments for the length of the fixed-rate period. This differs from a variable rate loan, on which your monthly repayment could rise and fall.
Keep in mind that the rate you receive is down to your personal circumstances. Tandem says that it will base it on factors including your credit history, credit rating and financial status.
» MORE: How are fixed and variable mortgages different?
Loan-to-value ratios
It’s possible to borrow up to 100% of the value of your property with a Tandem home loan. However, higher LTVs come with increased risk. While you may be able to borrow a larger amount than would be possible from other lenders we’ve reviewed, you should carefully consider the impact it could have if your financial circumstances change, or property values drop.
Making overpayments
Tandem fixed-rate home loans allow a maximum 10% overpayment. Making overpayments can help you shorten the term of your loan, or lower your future monthly repayments.
But it’s important to check the terms and conditions of your loan before making an overpayment because lenders can apply a cap on overpayment amounts before you’re hit by early repayment charges.
Paying off a loan early
If you want to pay off your loan early, Tandem has some fixed-rate products on which you’ll pay early repayment charges, and others that don’t. If you think that you might make an early repayment, be sure to check your agreement before signing about the fees you may have to pay and speak to Tandem to clarify any details.
Customer support
Tandem offers customer support over the phone and by email. If the answer to your question isn’t in the FAQs section of Tandem’s website, you’ll be directed to the relevant contact details. There are contact details for new application queries, and existing customer queries, as well as an online portal and dedicated phone number for making payments.
Customer ratings
Tandem has an overall rating of 4.1 stars out of five from more than 4,200 reviews on Trustpilot – a score that the review site equates to ‘Great’. Almost two-thirds of reviews have awarded the bank five stars.
While the score reflects all the products and services offered by Tandem in the UK, and not solely its homeowner loan product, the average rating of 4.1 stars still reflects positively on the bank.
This information was correct as of 1 May 2025.
How can I apply to Tandem?
You’ll need to apply through a broker if you want a Tandem secured loan. The advantage of using a broker is that you can benefit from their guidance and expertise throughout the application process but you’ll need to check if it charges any additional fees for its services.
What information do I need?
When applying for a homeowner loan you should usually be prepared to share:
- proof of your address and identity (a utility bill or bank statement and/or your driving licence or passport will usually suffice)
- recent payslips or a P60 if you’re employed
- self-assessment forms or SA302s if you’re self-employed
- proof of any other income you receive from pensions or benefits
- your latest annual mortgage statement
- information relating to any outstanding debts
- recent bank statements showing your income and expenditure
How long does it take to apply?
Tandem says that it gives a decision in principle in seconds, but the final decision to lend is subject to a full file application and review. The bank has told us that the current turnaround time from full mortgage application to receipt of funds is 13 days.
» COMPARE: Best secured loans
Tandem FAQs
Tandem Money is the group that owns Tandem Bank. Tandem Money is based in Blackpool.
Tandem is regulated and authorised by the Financial Conduct Authority, the financial services regulator in the UK.
Help if you’re struggling with debt
Late repayments can cause you serious money problems. Consolidating multiple debts into one loan can extend the term of your borrowing and increase your cost of borrowing
If you are struggling with debt, you can seek advice from a debt advice service, such as:
- Citizens Advice
- MoneyHelper (formerly The Money Advice Service)
- National Debtline
- StepChange
- The Money Charity
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