Secured loans

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Bigger plans, bigger borrowing

You could use your home as security to unlock higher loan amounts

Check your eligibility before you apply

See which loans you could get without harming your credit score

No hidden surprises

Get a clear view of rates and repayments before you decide to commit

Always think carefully before securing debts against your home. Your home may be at risk if you don’t keep up repayments.

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How do secured loans work?

A secured loan, also known as a homeowner loan, lets you borrow money using a valuable asset – usually your home – as security for the borrowing.

This means that if you don't keep up repayments, the lender could sell that asset to get back the money it lent to you.

Think carefully before taking out a secured loan and only apply if you're totally confident you can keep up with the repayments.

How to apply for a secured loan

Just follow these three steps to apply for a secured loan...

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Search for our best homeowner loan deals

Compare with us to search for secured loans you’re likely to be accepted for. You can use Compare the Market to compare secured loans from £10,000 up to £250,000.

Talk to an expert

Fill in your phone number to arrange a chat with our partner broker Fluent Money². One of its expert advisers will call you back to explain more about secured loans and help you apply for the right one for you.

Receive your loan

If your loan application is approved, you’ll receive the money. You then start repaying it monthly, including interest, for the agreed length of the loan. The loan is cleared after you make the final repayment.

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What’s the main difference between a secured and unsecured loan?

When you take out a secured loan, you borrow money and secure it against a valuable asset you own, such as your home. With an unsecured loan, you don’t have to put up an asset as security.

Read more about the differences in our guide to secured vs unsecured loans.

What our expert says...

“You can borrow more with a secured loan and at a better rate than an unsecured one, but your home is the security behind it.

“Don’t just look at the monthly repayment – check the total cost over the full term, including any fees.

“And if you’re struggling with repayments, talk to your lender straight away. Missing payments on a secured loan carries more serious consequences than falling behind on unsecured credit.”

Sajni Shah, Personal finance expert

What affects the cost of a secured loan?

The cost depends on several factors. You can use our loan calculator to work out how much a loan could cost you overall and what your monthly payments might be.

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Interest rate

This varies among lenders. The higher your credit score, the lower the interest rate a lender is likely to offer you.

Representative APRs for secured loans are typically around 11.8%, although the rate you’re offered will depend on your individual circumstances³.

Loan amount

In general, the more you borrow, the more interest you’ll pay (as you're paying interest on a higher sum).

Loan term

If you’re borrowing over a longer period, your monthly payments will be lower but you’ll pay more in interest overall.

Loan fees

These could include an arrangement fee, valuation fee and a legal fee. You may also be charged a fee if you repay your loan early or make overpayments.

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What happens if you default on a secured loan?

If you default on a secured loan – in other words, you stop making the repayments – the lender has the legal right to take the asset the loan is secured against. But it must follow the proper procedures to do so.

The lender can then sell the asset – usually your home or car – to recover the money you owe. But most lenders only do this as a last resort.

Defaults will usually be recorded on your credit report. This will lower your credit score and make it harder for you to borrow money in the future.

Contact your lender if you’re struggling to make your loan repayments. It may agree to a more affordable payment plan.

If you're struggling with debt, speak to a debt adviser. Citizens Advice, StepChange and National Debtline offer free, non-judgmental advice, and MoneyHelper can help you find free debt advice near you.

Secured loan help and guides

Explore more about how loans work and the differences between secured and unsecured loans

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Loan types

What is a secured loan?

Your home or another asset may be tied to the borrowing

Loan types

Secured vs unsecured loans

Compare the pros and cons of each option

Homeowner loans

Borrowing against your home can offer more, but comes with risk

Compare loans

Compare loans online and check eligibility without harming your score

View all loans guides

FAQs

How is my home valued when I take out a secured loan?

The loan provider will arrange for your home to be valued by a chartered surveyor. You’ll normally have to pay for this, so keep this in mind when considering your overall costs.

Is it easier to get a secured loan?

It might be easier to get a secured loan than an unsecured loan, especially if you have a bad credit record.

Some loan providers are more willing to lend you money if you’re putting up an asset, such as your home, as security for the loan.

Do secured loans help your credit score?

If you take out a secured loan and make your repayments on time every month, your credit score could improve over time. This is because you’re showing you can handle credit successfully, making you less of a risk to lenders.

But if you don’t keep up with the repayments, your credit score will go down.

What happens to a secured loan if I move home?

If you move home, you’ll usually be expected to pay off a loan secured on the property. You can do this by:

Using the proceeds from the sale of your home
Paying off your secured loan before putting your house up for sale
Taking out an unsecured loan to pay off your existing secured loan.

Alternatively, you may be able to transfer the secured loan to your new property, although not all lenders offer this option.

If you can transfer the loan, you may have to pay an admin fee. You might also have to renegotiate the loan, which could increase the interest rate and loan term. Speak to your lender to find out more.

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Reviewed 07 Sept 2026 by Charlie Evans Personal finance expert

Charlie is a senior commercial leader with close to a decade of experience across the UK’s leading personal-finance and comparison platforms. Before joining Compare the Market as Head of Commercial in 2024, he held senior commercial roles at TotallyMoney and MoneySuperMarket Group.

Methodology

¹Based on the % of respondents claiming they have used Compare the Market in the last 12 months vs. other leading PCWs. Source: Savanta BrandVue Financial Services, National Representative Survey of 12,257 respondents (June 2026)

²Fluent Money is a UK-based finance broker that works with a wide panel of lenders. Fluent Money provides a tailored advisory service with no up-front broker fee for the initial consultation. It offers flexibility, speed and clarity in higher-risk, higher-cost financing scenarios.

Fluent Money acts as a credit broker, not a lender. To apply you must be a UK resident, aged 18 or over, and a homeowner. Credit is subject to status and eligibility.

³Correct as of June 2026.

Compare the Market Limited acts as a credit broker, not a lender. To apply you must be a UK resident and aged 18 or over. Credit is subject to status and eligibility.