Paragon Personal Finance Secured Loans

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  • We've teamed up with the UK's favourite secured loan broker* Fluent Money to help you in your secured loans search
  • Homeowner secured loans usually have to be applied for through a broker using your property as security
  • Compare Paragon Bank against other secured lenders using the calculator below

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

    • Paragon Bank PLC logo

      Paragon Bank PLC

      • Initial Rate
        3.60%
      • Total Repayments
        £35,767.20
      • Monthly Repayments
        £298.06

    Other Secured Lenders

    • Optimum Credit Ltd logo

      Optimum Credit Ltd

      • Initial Rate
        4.00%
      • Total Repayments
        £36,448.80
      • Monthly Repayments
        £303.74
    • Masthaven Bank Ltd logo

      Masthaven Bank Ltd

      • Initial Rate
        4.19%
      • Total Repayments
        £36,774
      • Monthly Repayments
        £306.45
    • Shawbrook Bank Limited logo

      Shawbrook Bank Limited

      • Initial Rate
        4.20%
      • Total Repayments
        £36,792
      • Monthly Repayments
        £306.60
    • United Trust Bank logo

      United Trust Bank

      • Initial Rate
        4.45%
      • Total Repayments
        £37,222.80
      • Monthly Repayments
        £310.19
    • Together logo

      Together

      • Initial Rate
        6.65%
      • Total Repayments
        £41,152.80
      • Monthly Repayments
        £342.94
    • Step One Finance Limited logo

      Step One Finance Limited

      • Initial Rate
        6.90%
      • Total Repayments
        £41,613.60
      • Monthly Repayments
        £346.78
    • Oplo logo

      Oplo

      • Initial Rate
        8.00%
      • Total Repayments
        £43,686
      • Monthly Repayments
        £364.05
    • Norton Home Loans logo

      Norton Home Loans

      • Initial Rate
        8.30%
      • Total Repayments
        £44,258.40
      • Monthly Repayments
        £368.82
    • Central Trust Ltd logo

      Central Trust Ltd

      • Initial Rate
        9.50%
      • Total Repayments
        £46,582.80
      • Monthly Repayments
        £388.19
    • Evolution Money logo

      Evolution Money

      • Initial Rate
        10.20%
      • Total Repayments
        £47,973.60
      • Monthly Repayments
        £399.78

Please note: Loans displayed have a minimum term of 12 months and a maximum term of 360 months. Maximum APRC charged 49.9%.

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.

Our comparison service features a selection of providers from whom we receive commission. This table is ordered by initial rate. *Fluent Money completes more secured loans than any other broker.

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Last updated on 09 November 2020.

Paragon Bank Secured Loans FAQ

Who is Paragon Bank Ltd?

Paragon Bank Ltd is a FTSE 250 bank that offers lending and savings products largely through brokers and other intermediaries. Paragon Bank has been in operation since 1985.

What secured loan products does Paragon Bank offer?

Paragon Bank offers buy-to-let mortgages, residential mortgages and second charge mortgages to borrowers in the UK through its broker partners.

Does NerdWallet work with one of Paragon Bank’s broker partners?

For our secured loan comparison table, we work in partnership with Fluent, which is a popular broker of secured loan products. We refer users to Fluent, who can help borrowers seek out and apply for the right type of loan. Some other lenders choose to work directly with borrowers.

Which brokers offer Paragon Bank secured loans?

Paragon Bank only works with brokers who are registered with the Financial Conduct Authority (FCA). They also need to have FCA permission for the following:

  • Advising on regulated mortgage contracts
  • Arranging regulated mortgage contracts
  • Making arrangements for regulated mortgage contracts

How much could I borrow through a Paragon Bank Ltd secured loan?

The amount Paragon Bank would offer to lend you through a second charge mortgage would depend on your credit score, as well as the value of your home, the value of the equity you have in your home, your employment status and other financial criteria. Before taking out a secured loan, it’s also advisable to consider whether such a long-term financial commitment is the best option for you. If you fail to keep up with repayments or fall into financial difficulty, you could lose your home.

What is the difference between a secured loan and an unsecured loan?

Secured loan providers will often offer larger sums of money over longer loan terms. This means you can borrow more and repay it over a longer period of time. Interest rates are also often lower than for unsecured personal loans. This is all because the loan itself is secured against your property so the risk to the lender is less.

Borrowing a secured loan is a major financial commitment and you can risk losing your home if you cannot keep up with the repayment schedule arranged at the beginning of the loan.

What should I do if I might miss a payment?

Contact your secured loan provider as soon as possible and they may be able to help you. Lenders can sometimes arrange a new repayment agreement that is more affordable, which could help you avoid late payment charges. However, the term of the loan could be extended in order to achieve this, which could lead to a larger total repayment amount.

Why do borrowers take out secured loans?

People usually seek out secured loans if they have a large expense that they need help with. This could be a kitchen renovation or school fees. Others use secured loans for debt consolidation, which can lead to larger total repayment amounts if the term of the debts is extended.

Services offered by this provider may change over time. Always check Ts&Cs.

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