Secured Loans

Compare Secured Loans

"Get access the best secured loan rates in the UK using our secured loans comparison services with no preliminary credit checks. Donkey compares lenders and high street bank rates to find the best secured loan deals''

  • Debt Consolidation Loans
  • Raise Deposit on Second Property
  • Best Secured Loans
  • Extra Working Capital For Business
  • Lower Rates than Personal Loans
  • Secured Loan for Property Development
  • Secured Loan Calculator
  • Bad Credit Secured Loans


  • Debt Consolidation Loans
  • Raise Deposit on Second Property
  • Best Secured Loans
  • Extra Working Capital For Business
  • Lower Rates than Personal Loans
  • Secured Loan for Property Development
  • Secured Loan Calculator
  • Bad Credit Secured Loans

Second Charge Secured Homeowner Loans

Whatever your requirements and financial position, we make it quick and easy to compare secured loans from dozens of dynamic lenders. Our secured loan comparison services extend to all types of secured personal loans and secure business loans at every level. With no credit checks required, even bad credit doesn't have to stand in the way of securing a quality loan for any purpose.

Compare Secured Loans with Donkey Finance

Often referred to as homeowner loans, secured loans are long-term borrowing products which are usually secured against a real estate asset, such as the borrower's home or an additional property that they own. Most loans of this nature start at around £25,000 in value with an upper ceiling of around £250,000 – although this will depend entirely on the amount of equity available in your property, monthly income and your previous borrowing habits.

If you have a relatively good credit score, you will typically be offered a secured personal loan or business loan with interest rates of around 5% to 6%, although these rates will be significantly higher if you have defaulted on payments in the past, or you have been issued with CCJs. Secured loans are normally paid back in monthly instalments and the funds can be used for a wide range of purposes. Home improvement, debt consolidation and the financing of weddings, holidays and new vehicle purchases are some of the most common uses of secured borrowing products.

Frequently Asked Questions

The term ‘secured loan’ refers to any type of loan that’s provided on the base of the applicant providing collateral – aka security. In most instances, secured loans are granted in accordance with the value of the borrower’s property. If your home is valued at £100,000, you may be able to borrow 75% of its value as a secured loan - £75,000. Such loans are issued on the condition that should the borrower fail to repay the loan, the lender is legally entitled to take ownership of the property.

In some instances, secured loans are offered upon the provision of different types of collateral. Jewellery, luxury watches, vehicles, business assets, fine art and personal effects in general may be used to secure a loan. It may also be possible to combine multiple assets to cover the cost of one secured loan.

As the full cost of the loan is secured with the borrower’s collateral, a secured loan can typically be offered at a comparatively low rate of interest. Loans secured on acceptable collateral are considered low-risk loans and can be relatively straightforward to organise.

Secured loans are provided on the basis of collateral. By contrast, unsecured loans do not require the borrower to provide collateral to cover the cost of the loan. Instead, unsecured loans are granted on the basis of the borrower’s credit score, financial status, proof of income, employment history and so on.

As a result, applying for and successfully receiving an unsecured loan can be more difficult and time-consuming. Irrespective of collateral or otherwise, a credit check alone could be enough to exclude an applicant from consideration. Poor credit unsecured loans are available, though typically attach excessively elevated overall borrowing costs.

Unsecured loans are provided subject to status, with interest rates and overall costs varying from one applicant to the next. If the applicant is self-employed, has a poor credit history or is unable to provide proof of income, an unsecured loan may be out of the equation. In addition, unsecured loans are typically offered in smaller sums, perhaps up to a maximum of £10,000.

As the applicant isn’t required to provide collateral to secure the loan, their property is not at risk in the event that they fail to repay the loan as agreed.

Secured personal loans are surprisingly difficult to track down on the UK High Street. In fact, there are only a couple of names such as Masthaven Bank and Shawbrook that provide access to flexible and convenient secured personal loans. Mortgages and similar home loans are widely available, but all-purpose secured personal loans are much thinner on the ground.

As a result, it’s always advisable to look beyond the High Street, if considering applying for a secured personal loan. There are dozens of independent lenders across the UK, which specialise primarily or exclusively in these kinds of loans. As a result, they’re often able to provide secured personal loans with much more competitive overall borrowing costs than their High Street counterparts.

In addition, specialist lenders are far more flexible and accommodating when it comes to subprime applicants. If you have poor credit or you’re unable to provide proof of income, you’re unlikely to qualify with a major lender. With independent secured loan specialists, all that matters is covering the cost of the loan with acceptable collateral. This is ideal if looking to borrow a considerable sum while dealing with an imperfect credit score.

Applying for a secured homeowner loan with Donkey Finance could not be easier. Once you have worked out how much you can realistically afford to borrow and pay back, you can either use our online application form and request a call back, or get in touch with one of our FCA authorized advisors directly over the phone and let them guide you through the entire process. Once the first stage of your application is complete, we will search the entire market on your behalf in order to ensure you get the most competitive deal based on your individual needs and borrowing criteria.

Provided you are a UK resident, aged 18 years or older and either own your home outright, or you have a mortgage and there is enough equity left over to act as security for the loan, your chances of being approved for a secured loan with Donkey Finance are actually quite high. Even if you have had cash-flow problems in the past, or you are self-employed and have found it difficult to obtain finance elsewhere, we will search the entire market to find the most suitable product for your needs.

A decision can be made in a matter of minutes, and once your application has been approved, there is very little paperwork involved and the funds can be transferred directly to your bank account in a matter of weeks or days. Even if you have been turned down for credit in the past, because the loan is secured, you still have an excellent chance of being approved.

However, it is important to realize that there is a very realistic probability that your home will be repossessed if you deliberately avoid repaying the debt or you miss a number of payments owing to unforeseen circumstances. Of course, this only happens as a last resort and the vast majority of lenders will always work with you in order to resolve the issue of non-payment in the most amicable manner.

Understanding the Risks of Secured Loans

Unfortunately, many people choose to get secured loans without considering their other options. In some situations, an unsecured loan may provide a better solution. However, there are also times when lenders can receive a “charging order” to sell your home to recoup their payments on an unsecured loan.

The charging order does not automatically give lenders the right to repossess your home. They still need to complete another court filing. However, unsecured loans still make it harder for lenders to repossess your property compared to secured loans.

Basically, a secured loan carries a risk to the borrower while lowering the risk for the lender.

Advantages of Obtaining a Secured Loan

Why do people risk their possessions for a loan? By offering collateral, lenders consider you a lower risk for failing to make your payments.

As a lower risk, you get lower interest rates and better deals. For those with low credit scores, a secured loan may be easier to get. However, those with good credit scores can often get better deals with unsecured loans.

Along with providing a lending solution for those with bad credit, secured loans offer larger borrowing limits. Secured loans are also often available with longer terms. Instead of needing to pay off your loan in one to seven years, you may get up to 20 years to pay off a secured loan. Keep in mind that increasing the term increases the total interest that you pay during the life of the loan.

Loans are either secured or unsecured. Determining which option is right for your financial situation depends on your credit history, how much you want to borrow, and what you have available for collateral.

The UK's Lowest Secured Loan Rates

By working closely with dozens of leading lenders across the UK, we provide exclusive access to the lowest secured loan rates on the market. By carrying out a comprehensive interest rate comparison for every customer, we're able to pinpoint the perfect products to suit all requirements and budgets. Donkey Finance operates as a different kind of comparison site, simplifying the process of tracking down high-quality secured loans for all purposes.

For more information or to discuss your requirements in more detail, contact a member of the Donkey Finance customer support team today.

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