Bad Credit Secured Loans

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  • We've teamed up with award winning broker Norton Finance to help find the best secured loan for you, even if you have bad credit history or CCJs
  • Secured loans are only available to homeowners and usually have to be applied for through a broker using your property as security
  • Use the calculator below and get a free no obligation quote that won’t affect your credit rating

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it. Click here for a representative example

9 products found
    • West One logo

      West One

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    • Masthaven logo


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    • Oplo logo


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    • Norton Home Loans logo

      Norton Home Loans

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    • Central Trust logo

      Central Trust

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    • Equifinance logo


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    • Evolution Money logo

      Evolution Money

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    • Spring Finance logo

      Spring Finance

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    • Lesley Stephen & Co logo

      Lesley Stephen & Co

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Please note: Loans displayed have a minimum term of 12 months and a maximum term of 300 months. Maximum APRC charged 49.9%. Rates displayed are the lowest available for each lender based on 60% loan-to-value (LTV).

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 any other debt secured on it.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Overall representative example for Bad Credit Secured Loans from Norton Finance
Based on borrowing £10,000 over 10 years at an Annual Interest Rate of 10.68% (variable) Maximum APR: 65.2% Total amount payable £18,752.40
Fees Broker Fee £1,000 / Lender Fee £495 Overall cost of comparison 15.1% APRC

Our comparison service is generated using information supplied by Norton Finance with whom we have a commercial relationship. This does not effect the pricing achieved by consumers.

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Last updated on 04 March 2021.

Bad Credit Secured Loans FAQs

Will I be able to get a secured loan if I have bad credit?

Possibly. There are lenders that will consider borrowers with poor credit records for a secured loan, providing they have property against which to secure the loan. In fact, it may be easier for homeowners with bad credit records to be accepted for a secured loan than an unsecured loan, as providing your property as security reduces the risk involved for the lender.

What risks are involved with taking out a bad credit secured loan?

As with any loan secured against your property, you could stand to lose your home if you find yourself unable to repay the debt owed. In some situations, lenders may be able to force the sale of your home in order to raise the funds needed to clear the debt. This is why it is vital to ensure you can afford to repay your secured loan for its entire term.

Why might I need a bad credit secured loan?

Secured loan providers will often offer borrowers larger amounts of money than unsecured loan providers. Therefore, people often use secured loans to pay for things like extensions or home improvements. They are also used for debt consolidation or for making large purchases. However, interest and charges are payable and this means borrowers should consider whether they really need to take out a secured loan before taking the plunge.

What should I consider before taking out a bad credit secured loan?

  • How much equity you have in your home: In order to be accepted for a bad credit secured loan, you will usually have to have built up a reasonable amount of equity in your home. Equity is the value of your home, minus any mortgage value you still owe on the property. You can usually build up equity by paying off some of your mortgage or if your home’s value increases significantly.

The amount you will be able to secure through a bad credit secured loan is directly linked to the amount of equity you have in your home. Your current mortgage liabilities will also be taken into account by lenders when they are working out how much you can afford to borrow.

  • Making sure you can afford the repayments if interest rates increase: Unless you can opt for a fixed rate secured loan, you may face increases in your monthly repayments if the base rate rises at some point over the term of your deal. Just as you would when taking out a house purchase mortgage, you should stress test the loan to ensure you will be able to cover the repayments even if the interest rate increases.
  • Length of the loan term: Think about how long you will need to repay the loan and ensure that you will be able to take out the bad credit secured loan for the right amount of time to suit your needs.
  • Amount you need to borrow: Only borrow what you really need against what you need it for. Secured loans cost money and the longer you are paying the loan off, the more money you will spend in interest payments.

Should I consider remortgaging instead?

It is worth researching and considering re-mortgaging as a means of accessing a larger amount of money when you are a homeowner. However, if your credit record has deteriorated since you initially took out your mortgage, you may struggle to access a remortgage deal with your current provider, or with a new provider as remortgage applicants have to meet the same criteria as initial mortgage applicants.