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How To Get A Secured Loan

Get a secured loan with a low, fixed £1,495 broker fee.

ABC Finance Reviews
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Author: Gary Hemming CeMAP CeFA CeRGI CSP
20+ years experience in secured loans

Getting a secured loan is a relatively straightforward process when you know what you’re doing. That said, it can be difficult to know where to start, especially for the uninitiated.


In this guide, we will break down what a secured loan is, how to get a secured loan and the best places to get secured property loans.

What is a secured loan?

A secured loan is a type of loan that is secured against an asset, usually property. Secured loans rely on the fact that a legal charge is taken over the security property. The security held over the property is often referred to as collateral.

By allowing a lender to take a charge over your property, they gain certain rights to exercise their legal charge, should you fail to keep up repayments. This can include placing a restriction on the title of the property and even repossession in extreme cases.

In exchange for allowing your secured loan lender to enjoy these rights, you will also benefit. The main benefits of secured loans include lower interest rates, longer loan terms and larger loans than unsecured loans.

How can I get a secured loan?

To get a secured loan, you must submit a secured loan application to your chosen secured loan lender.

The cost of taking out a secured loan can vary a great deal from lender to lender, meaning it’s very important that you take time to find the best deal.

You can choose to do this yourself, or through a reputable secured loan broker.

If you’re looking to get a secured loan, preparing the documents required to take out a secured loan will save you a lot of time during the application process.

Where can I get a secured loan from?

You can get a secured loan from a secured loan lender or by using a secured loan broker.

Secured loan brokers work for you to find the most appropriate secured loan lender for your needs and will work with you throughout the application process.

For the work done by a broker, they will charge a fee. This fee can be significant, with many brokers charging a fee of 12.5% of the loan amount – £5,000 on a £40,000 loan. We simply charge a fixed £1,495 fee when the loan completes, with no upfront cost for our service.

If you choose to work directly with a lender, you stand to save on the broker fee, but can easily spend more overall if you don’t get the best deal.

In addition, some secured loan lenders won’t work directly with consumers, meaning you must use a broker to access them.

The decision to use a broker or apply directly is an important one. You should carefully consider which is best for you.

How do I apply for a secured loan?

To apply for a secured loan, you must prepare the documents needed to apply for a secured loan, approach a lender or broker, and then submit a formal application.

The documents required usually include:

  • An application form
  • Proof of ID (usually a passport or driving licence)
  • Proof of address (a bill dated in the last 3 months)
  • Proof of income (Payslips of HMRC tax documents)


This will then start the application process, and if approved, you can expect to receive your loan in around 1-3 weeks.

Secured loan applications can usually be made online through most providers.

Which lenders offer secured loans?

The leading secured loan lenders are specialist outfits compared to the leading mortgage lenders. They tend to be smaller lenders and challenger banks as opposed to high street banks.

The current leading secured loan lenders include West One Loans, Oplo, Shawbrook Bank and United Trust Bank.

There is no single best lender in the market. The best lender will depend on the applicant, their borrowing requirements and what they’re looking for in a lender.

For example, some borrowers may need money quickly and rank speed above everything, whereas others may simply want the lowest interest rate.

As with many financial products, this is a matter of nuance and a very individual issue. Read our guide to find out the answer to the question should I get a secured loan or remortgage?