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Compare Secured Loans for Bad Credit


Get indicative secured loan for bad credit rates in less than 2 minutes.

Borrow from £3,000 over 3 - 30 years

To qualify for a secured loan for bad credit you must meet the following criteria:

  • Be a UK resident and own your own property
  • Be aged 18-85 with a minimum income of £15k

Loans are secured - your home may be repossessed if you do not keep up repayments.

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Loans are secured against property - 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.

Secured loans for bad credit UK

Secured loans for bad credit UK


We offer secured loans for bad credit UK, with repayment terms from 3 to 30 years to suit your plans. From our panel of specialist lenders, we have products for most circumstances, including those in situations with bad, poor or adverse credit. We also offer fixed or variable interest rates, giving you flexibility over your repayments. 

Our main goal is to find you the most affordable loan for your personal circumstances. Therefore, at every touchpoint we will consider your affordability and needs.

Secured loans for bad credit explained

What is a secured loan bad credit?


A secured loan is a funding option where you use your property as security. This means if you consistently miss your monthly repayments, then your lender is able to re-possess your property, in order to recover the amount they lent and the costs they incurred from lending to you. By using your house as security, you are reducing the risk that lenders will not be able to recover what they are owed, in the event that a customer defaults on their repayments. As a result of this, they may be more willing to provide financial solutions to you, even if you have a bad or poor credit background. A bad credit secured loan is therefore useful to people in situations where they may not have the most attractive credit background. It’s important to note that we also have secured loans for people with good or average credit profiles, which work in the same way.

Uses of a bad credit secured loan

Why use bad credit secured loans?


Borrowing money can give you the flexibility you need to complete your plans. Maybe you would like to improve your credit profile by consolidating debt. Or, it could be that you are interested in undertaking some home improvement projects, but your bad credit background is restricting access to funds. With a bad credit secured loan, you may be able to get the finance you need to begin your plans.

However, if you are thinking of consolidating existing borrowing, whilst your payment may be lower (which can help manage your monthly income and outgoings), be aware that this may extend the term of the debt and increase the total amount you repay.

Rates for secured loans bad credit uk

Secured loans bad credit UK rates


Similar to other borrowing options, a secured loan bad credit UK can have either fixed or variable interest rates. The type and amount of interest you are charged is dependent on a variety of factors relating to your personal circumstances. These factors can include your borrowing amount, repayment terms, and your credit background.

Through our panel of specialist lenders, we will search over 600 products to try and find you a loan with the lowest rate possible for your circumstances. Although your options may be limited with a secured loan bad credit uk, we will always try to find you the lowest cost loan we can.

Before committing to a loan, it is important that you understand the costs involved first. Checking what rates you may be eligible for could be a good place to start. To understand what rates you may get with your personal circumstances, you can use our secured loans quick quote calculator above. After this, it is important that you carefully consider whether this is an affordable option for you.

Bad credit secured loan uk loan amount

How much could I borrow with a bad credit secured loan UK?


The borrowing options we have available are suitable for most circumstances and start from £3,000. Our lenders will decide how much they are willing to offer you. Therefore, the loan amount will ultimately be the lender’s decision. Before agreeing to a loan amount, your lender will consider a range of factors first to determine how much you could comfortably afford. These factors include:

  • Income;
  • Credit background;
  • Property value;
  • Amount of equity you currently have in your property.

To understand the amount you might be able to borrow, you can use our secured loan quick quote calculator above.

Compare secured loan bad credit rates

How do I compare rates?


For a free, no obligation quote you can:

Call us on FREE on 0800 032 4646 or compare products online now.

Don't forget – making an enquiry will not affect your credit rating in any way!

Frequently Asked Questions - Secured loans for bad credit


Can I get a secured loan with bad credit?

Yes, it’s possible to get one of these solutions if you have bad credit.

By using a property as security it reduces the level of risk to lenders, which means they can be more flexible. Due to this, they are more likely to accept people with less than perfect circumstances, such as poor credit.

However, it’s not definite that you will get accepted. Lenders will also consider other factors relating to your personal circumstances to determine your eligibility.

What are the risks of secured loans for bad credit?

There are a few risks you should be aware of before you take out one of these solutions, including:

- You run the risk of further harming your credit profile if you default on your loan

- The property you have used as security could be at risk of repossession if you consistently fail to meet repayments

- It’s a big decision, which you may be committed to for a long period of time

Should I get a poor credit secured loan?

Getting one of these loans is a big commitment, so it’s important that you think carefully about whether it’s the right decision for you. This will greatly depend on your own personal circumstances and what you need the loan for. Therefore, the decision is ultimately yours to make.

You will need to weigh up the different options available to you and consider whether you could afford the repayments. Speaking with a qualified mortgage advisor could help you understand this.

Am I eligible for a bad credit secured loan?

Each lender has different criteria that you will need to satisfy to be eligible for a loan, so it massively depends on the provider you go with.

Some lenders may be stricter with their criteria than others, which means you may get accepted with one whilst getting rejected by another.

If your credit profile is particularly damaged it could be more challenging to get accepted. Therefore you may need to speak to a specialist broker who may have a greater understanding of which lenders might accept your application.

What are the repayment terms on secured loans for bad credit?

Repayment periods can run from 3 to 30 years, so you can find a solution that is flexible around your plans.

Spreading repayments out could help lower your monthly outgoings, but it means you’ll pay more in interest over the course of the loan. Whereas, having a shorter term will increase monthly payments, but you will pay less interest overall.

What documents do I need to apply for a bad credit secured loan?

There are a few different documents you might need to apply for this solution, depending on which provider you go with. This might include:

- Proof of your income such as payslips, tax returns and bank statements

- Proof of your identify, such as passport or driving licence

- Proof of residency and property ownership

If I’ve been rejected for an unsecured loan, can I still get a bad credit secured loan?

Yes, borrowing against your property can reduce the level of risk to lenders, as they can repossess the house if you fail to make your repayments. Due to this, lenders are usually more relaxed about letting you borrow, so even if you’ve been refused for an unsecured loan you may still be successful.

Where can you get secured loans for bad credit?

It’s possible to get one of these solutions by going directly to a lender or through a broker.

It’s entirely your decision, but you may find that if you have a particularly poor credit history it could be worth speaking with a broker. This is because they have access to a range of lenders and may know which lenders are more likely to accept you.

Additionally, some lenders will not approve your application unless it’s come from a broker.

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