Secured loan broker fees up to 50% less. That’s what happens when AI does the legwork.
If you own your home, you might be able to borrow from £10,000 to £1.5 million — often at lower rates than a personal loan. Albot checks over 100 lenders to find what could work for your situation.
Your Secured Loan Options
Checking over 100 lenders for you
What actually is a secured loan?
You might have heard it called a second charge mortgage or homeowner loan — it’s all the same thing. Basically, you borrow money using your home as security. Because there’s that security, lenders can usually offer more money at lower rates than you’d get with a personal loan.
Unlike a remortgage, a secured loan sits alongside your existing mortgage. You keep your current deal and don’t need to change it.
This can be particularly useful if you’re on a low rate you don’t want to lose, or if you’d face early repayment charges for remortgaging.
It’s also a common choice for debt consolidation, since many first charge mortgage lenders restrict this as a purpose.
Worth knowing: Your home could be at risk if you can’t keep up repayments. It’s really important to think about whether the monthly payments would be comfortable for you before going ahead.
Secured loans are regulated by the Financial Conduct Authority (FCA). Applications are handled by Loan.co.uk, which is authorised and regulated by the FCA — so you’re protected by strict rules on fair treatment, clear information, and responsible lending.
Secured vs Unsecured
How they compare
Secured Loan
Personal Loan
For larger amounts over longer terms, secured loans can offer
Why do people get secured loans?
There are lots of reasons — here are some of the most common ones. If yours isn’t listed, that’s okay. Secured loans are pretty flexible.
Debt consolidation
Juggling several different payments each month? You might be able to bring them together into one. Lots of people find this makes things easier to manage.
Find out moreHome improvements
Thinking about a new kitchen, extension, or loft conversion? A secured loan could help you make it happen — and it might add value to your home too.
Find out moreMajor purchases
Need a new car, caravan, or something else that’s a big outlay? Spreading the cost over a longer term could make it more manageable.
Find out moreProperty deposit
Looking to raise a deposit for a buy-to-let or second property? You might be able to use the equity in your current home.
Find out moreTax bills
Got an unexpected tax bill? Spreading it over monthly payments could be easier than paying it all at once — and avoids HMRC penalties.
Find out moreWeddings & events
Planning something special? A secured loan could help you spread the cost of a wedding, milestone birthday, or family celebration.
Find out moreOther reasons people use secured loans:
Why do people choose a secured loan?
If you’re a homeowner, a secured loan might offer some things that personal loans can’t. Here’s what makes them worth considering.
You could borrow more
Secured loans typically go up to £1.5 million, depending on your equity. Most personal loans cap at around £25,000, so if you need more, this could be an option.
Rates are often lower
Because the loan is secured against your property, lenders can usually offer lower rates than unsecured alternatives — which could mean you pay less each month.
Keep your existing mortgage
A secured loan sits alongside your current mortgage, so you don’t have to give up a competitive rate or pay early repayment charges to remortgage.
Spread it over a longer term
You can spread your borrowing over 3 to 30 years. Longer terms mean lower monthly payments, which can make larger amounts more manageable.
Credit score not perfect? That doesn’t always mean no
Because the loan is secured, lenders can sometimes be more open to applications where credit history isn’t straightforward. It’s worth checking what’s available.
Good for debt consolidation
Many first charge mortgage lenders restrict debt consolidation as a purpose. Secured loans are designed for exactly this, giving you options when remortgaging isn’t available.
Here’s how the process goes
It’s more straightforward than you might think. Here’s what happens when you use Albot.
Have a quick chat
Tell us a bit about your home, how much you’re thinking of borrowing, and what it’s for. Takes about 2 minutes.
⏱ ~2 minsSee what’s available
Albot checks over 100 lenders and shows you options that could work for your situation.
⚡ Options shown instantlySpeak to a person
If you want to go further, a qualified adviser from Loan.co.uk reviews everything with you. They’re authorised and regulated by the FCA.
👤 FCA regulatedGet your funds
Once everything’s agreed, the money goes straight to your account.
💰 Funds releasedWhy use Albot for a secured loan?
We wanted to make finding a secured loan less stressful. Here’s what makes Albot different.
Quick and easy
See what’s available from over 100 lenders in about 2 minutes. No appointments, no waiting around.
Real people if you need them
Qualified advisers at Loan.co.uk are there if you want to talk things through. They’re authorised and regulated by the FCA.
Everything upfront
You’ll see all the costs before you go any further. No hidden charges, no confusing small print.
Won’t affect your credit score
Checking your options uses a soft search — it won’t show up on your credit file or be visible to other lenders.
Questions people ask about secured loans
If you can’t find your answer here, just start a chat with Albot — happy to help.
How much could I borrow?
Typically from £10,000 up to £1.5 million or more. It depends on your property equity and what you can comfortably afford. Lenders look at your property value, outstanding mortgage, income, and outgoings. The average secured loan is around £50,000.
Will it affect my current mortgage?
No. A secured loan sits alongside your existing mortgage as a “second charge”. You keep your current mortgage deal exactly as it is. This is particularly useful if you’re on a good rate you don’t want to lose, or if remortgaging would mean paying early repayment charges.
What can I use it for?
Pretty much anything. Common reasons include debt consolidation, home improvements, large purchases, property deposits, tax bills, weddings, and school fees. Debt consolidation is particularly popular because many first charge mortgage lenders restrict it as a purpose.
What if my credit score isn’t great?
Because the loan is secured against your property, lenders can often be more flexible about credit history. Many specialist lenders consider applications from people with missed payments, CCJs, defaults, or other credit issues. Rates may be higher, but options are often available where personal loans would be declined. It’s worth checking.
How long does it usually take?
Typically 2-4 weeks from application to funds, though it can sometimes be faster. The process includes a property valuation and legal work. You’ll see your options straight away with Albot, and completion depends on how quickly valuations and paperwork are processed.
What happens if I can’t keep up repayments?
Because the loan is secured against your home, your property could be at risk if you don’t keep up repayments. Lenders will usually try to work with you if you’re having difficulties — it’s important to contact them early if you have any problems. Only borrow what you can comfortably afford.
Want to see what could be available?
It takes about 2 minutes, there’s no commitment, and it won’t show up on your credit file.
See what’s possibleRepresentative Example (Secured Loans & Second Charge Mortgages)
If you borrow £18,000 over 10 years, initially on a fixed rate for 5 years at 7.4% and for the remaining 5 years on the lender’s standard variable rate of 7.9%, you would make 60 monthly payments of £249.27 and 60 monthly payments of £254.63. The total amount of credit is £19,657 (including a lender fee of £595 and a broker fee of £1,062). The total amount repayable would be £30,234. The overall cost for comparison is 10.42% APRC representative. This means 51% or more of customers receive this rate or better for this type of product.
Albot is an introducer and technology platform, not a lender and not a broker. Applications may be passed to Loan.co.uk Ltd, which acts as a credit broker, not a lender. Rates are subject to status, affordability checks and lender criteria.