Secured Loans
£10k to £500k
- Borrow up to 95% of your home's value
- We’ll get you our best rates
- See your results in minutes
SECURED LOANS
Try our loans calculator
to see your monthly payments
You need to be a homeowner, as the loan is secured against your home.
Please note this calculator is a guide only. We will search both personal and secured loans. The actual rate offered will be based on your individual circumstances.
Representative Example: If you borrow £34,000 over 10 years, initially on a fixed rate for 5 years at 5.89% and for the remaining 5 years on the Lender's standard variable rate of 10%, you would make 60 monthly payments of £428.34 and 60 monthly payments of £472.06. The total amount of credit is £38,775 (this includes a Lender Fee of £695 and a Broker Fee of £4,080). The total repayable would be £54,029.30. The overall cost for comparison is 10.2% APRC representative. This means 51% or more of customers receive this rate or better.
What is a secured loan?
A secured loan — sometimes called a homeowner loan — lets you borrow a lump sum using your home as security.
This means you could access larger amounts at lower rates than an unsecured loan, and it can be easier to get approved even if your credit history isn't perfect.
You repay it monthly with interest over an agreed term, separate to your mortgage. It's important to only borrow what you can comfortably afford to repay.
How do I get a secured loan?
Complete our online form
We'll check your eligibility
An adviser will call to discuss your loan
You'll finalise your application and receive your funds
Why choose a secured loan?
Borrow more, at lower rates
More time to repay
Good credit isn’t essential
Loans are secured against your home so it may be at risk if you fall behind with repayments. We’re a broker, not a lender, and arrange secured loans from a panel of lenders. We receive a commission upon completion. Fees may apply depending on your chosen product. The rate and any fees depend on your circumstances and will be confirmed before you proceed.
You're in safe hands
- Tailored advice from a qualified expert
- Your own case manager throughout
- Our app to track your application 24/7
- Access to your documents in a few taps
Every Ocean adviser is CeMAP qualified - this means they've been formally trained to give mortgage and secured loan advice right here in the UK.
So, when you call, you're talking to someone who knows their stuff, and wants to help.
For some loans, we'll send you directly to one of our trusted lenders who have their own adviser teams to complete your application.
Types of secured loan
Secured loans can come in a few different forms — here's a quick guide to help you find the right one for your circumstances.
Homeowner loan
Joint secured loan
Debt consolidation loan
One of our qualified advisers can help you decide which debts you'd like to consolidate.
What can I use this loan for?
Debt consolidation
Combine your debts into one monthly payment
Home improvements
Renovate or improve your home
Large purchases
Cover one-off expenses, like a wedding
Here’s a real customer’s story:
We helped Sam* cut his monthly costs by £1,571
Sam decided it was time to sort two things at once — increasingly unmanageable monthly card payments and a bathroom that badly needed doing.
Bringing both into one secured loan meant he could afford to splash out - and reduce his monthly credit costs by £1,571.
Old monthly payments
£2,225
New monthly payment
£654
Remember if you repay existing loans with a new loan, you may be extending the term and increasing the amount you repay in total. Loans are secured against your home so it may be at risk if you fall behind with repayments.
*Customer names have been changed to protect their confidentiality. Average reduction in outgoings of more than £800 per month for customers taking a loan to repay existing credit commitments in the last 12 months.
Secured loan interest rates
Fixed rate
Fixed deals usually run for 2-5 years
Your monthly repayments stay the same during this time, which can make budgeting easier. Fixed rates are the most common type of secured loan we arrange.
Variable rate
Rate can change over time
Your rate can go up or down over time, usually in line with your lender's standard variable rate. Your repayments could change, so it's worth factoring this in when you apply
Discounted variable rate
Discount applied for an initial period
A variable rate with a discount applied for an initial period, such as 2 or 5 years. You could benefit from lower repayments to start with, though your rate may change after the discount period ends
Can I get a secured loan with bad credit?
Yes, you can still be approved for a secured loan, even if you have bad credit - so don't rule yourself out before you apply.
We work with a wide panel of lenders, meaning you're more likely to find a deal you'll be accepted for.
Making your new monthly payments on time can also help rebuild your credit rating.
Will I be accepted?
You’re more likely to be accepted if you:
- Have a stable income
- Have more equity in your home
- Can comfortably afford repayments
This isn’t a guarantee, but it’s a good guide.
Secured vs.
Unsecured loans
| Secured loans | Unsecured loans | |
|---|---|---|
| Loan amount | £10k-£500k | £1k-£15k |
| Repayment period | 3y-30y | 1y-5y |
| Monthly repayments | Lower | Higher |
| Interest rates | Lower | Higher |
| Approval criteria | Property equity | Credit history |
| Must have a mortgage | Yes | No |
Our trusted lenders
We work with a wide panel of lenders, comparing 100s of loans, so you don't have to.
Let's make
it a yes
Got questions?
Is a secured loan right for me?
A secured loan could be a good option if you're a homeowner looking to borrow a larger amount over a longer term — often at a lower rate than other types of borrowing. But it's not the only option — and it's important to find the right fit for your circumstances.
- A personal loan might be worth considering if you need to borrow a smaller amount. You won't need to use your home as security, and you could still get a competitive rate if you have a good credit history.
- Remortgaging could be another way to release funds, especially if you're coming to the end of a fixed mortgage deal.
- A credit card could work out cheaper overall if you only need to borrow for a short period of time.
Can I pay off a secured loan early?
Yes, you should be able to pay off a secured loan early. Whether you'll be charged for doing so depends on your lender and the type of rate you're on.
Some lenders on our panel offer deals with no early repayment charges, or with overpayment facilities — so it's worth checking this when you compare. Where charges do apply, the amount will depend on how much you have left to pay and your lender's policy.
It's always worth weighing up any early repayment charge against the interest you'd save by paying off your loan sooner.
What does CeMAP qualified mean?
CeMAP stands for Certificate in Mortgage Advice and Practice. It's the qualification UK advisors take to give mortgage and secured loan advice, and one recognised by the Financial Conduct Authority (FCA).
All our advisors are CeMAP qualified, so they've been properly trained and tested on everything to do with mortgages and secured loans. They'll explain your options in plain English, check the loan suits your circumstances, and be honest with you about the risks before you decide anything.
What credit score do you need for a secured loan?
There's no specific credit score required for a secured loan. Because the loan is secured against your home, lenders may be more flexible — though a higher score can still improve your chances and help you access better rates. Keeping up with repayments can also help your credit score improve over time.
Should I get a secured loan or remortgage?
Both options let you borrow against your home's equity, but the right choice depends on your circumstances. Remortgaging may offer lower rates, but you'll replace your existing mortgage—which might not make sense if you're on a competitive rate or would face early repayment charges.
A secured loan (or second charge mortgage) keeps your current mortgage intact while adding a separate loan, which can be beneficial if you want to preserve a good mortgage deal.
Consider your current mortgage terms, the amount you need to borrow, and your financial situation.
Last updated
Reviewed by: Matt Waller
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