Find secured loans from £10k to £500k

  • Checking your eligibility won’t impact your credit score
  • Get advice on your best borrowing option
  • Aro is a credit broker, not a lender
Find extensive options with Aro

Tell us a bit about yourself and the loan you’re looking for

We’ll check your eligibility with over 50 UK lenders

Get matched to credit offers that are right for you and your finances

What can I use a secured loan for?

No matter if you’re looking to consolidate your debts or start a home improvement project, a secured loan could give you the funds you need to get your plans moving.

Debt consolidation

Home improvements

A new car

Answers at your fingertips

Is Aro a credit broker or a lender?

Aro is a credit broker, not a lender. This means that when you check your loan, credit card or car finance options through us, we use smart decisioning to quickly check your details against our lenders’ eligibility criteria and find you suitable borrowing options.

What is a secured loan?

The definition of a secured loan

A secured loan means that you can borrow money secured against an asset that you own. Secured loans are taken out over a fixed period of time, in which you agree to pay back the loan. Failing to do so, or defaulting on the loan, may result in the sale of the asset in order to recoup any losses.

What are secured loans for?

Secured loans help you borrow large sums of money against something you own, using it as collateral. They are often used for major expenses, such as large-scale house improvements or debt consolidation, and can be taken out over a long period of time. If a secured loan is taken out against your property, you are agreeing that, in the case that you can’t pay off the loan, you may need to sell your house to make the payment. Likewise, if you used your car as an asset, it may be repossessed if you don’t keep up your repayments. Lenders may see secured loans as lower risk because they know they can collect the money you owe from your assets if you don’t make the repayments.

Because of this security, secured loans may come with better interest rates and longer repayment terms. This can mean lower monthly repayments compared to an unsecured loan. As with all borrowing, you should consider the total amount you will need to repay overall when considering a product. The amount you are able to borrow and the rate that you are quoted by the lender will depend on your circumstances as with all loans, but with a secured loan, the amount of equity you have in your property will also affect this. If you are a homeowner but your credit history is not perfect, you might find that you are offered secured loans.

Does Aro’s smart search affect my credit score?

No, our smart search won’t impact your credit score. At Aro, we only use a soft credit check to match you with accurate borrowing options. This means that when you look for a loan, credit card or car finance through us, the search on your credit file won’t be visible to anyone but you.

If you do choose to proceed with a lender, the lender may run a hard credit check to make their final decision.

Can I get a homeowner loan with bad credit?

Yes, it is possible to get a homeowner loan with bad credit. This is because lenders secure the loan will against your home, adding an extra layer of security for the lender.

With a homeowner loan, you can borrow from £10,000 to £500,000+ and spread the cost over 1 to 30 years.

Bad credit homeowner loan considerations

That said, you should think carefully before securing finance against your home. If you are unable to repay your loan, as a last resort your lender could repossess your property to recover their funds. To be eligible for a homeowner loan, you’ll need to be a homeowner with equity in your home.

Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.

Second-charge mortgages 14.26% APRC Representative (variable). Representative example (if you choose to add fees to the loan): assumed borrowing of £25,000 over 7 years, plus a broker fee of £2,850 and lender fee of £367.50 would result in monthly repayments of £509.96, the borrowing rate is 12.78%, the APRC is 14.26% (variable), total charge for credit would be £14,619.14 and the total amount payable would be £42,836.64. Aro is a credit broker and not a lender. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

If you would like to learn about what gives you a bad credit score, check out our blogs, guides and FAQs.

Can a debt consolidation loan be secured?

Yes. Secured debt consolidation loan (as well as unsecured debt consolidation loans) exist. If you have a secured debt consolidation loan, they secure it against an asset like your property. This added security lowers the risk to the lender and this means a secured loan may come with lower interest rates than an unsecured personal loan, giving you lower monthly payments.

Despite all of this, a secure debt consolidation loan is not without a certain element of risk. Think carefully before securing other debts against your home. Your home may be subject to repossession if you do not keep up repayments on a mortgage. Not to mention any other debt secured on it.

What is debt consolidation?

So, what is a debt consolidation loan? A debt consolidation loan can be used to pay off multiple loans, credit cards, store cards or overdrafts so that each month you just make one single monthly repayment to a single lender. This simplifies the debt, keeping it all in one place and potentially making it easier to manage.

You could also use a debt consolidation loan to pay off just one credit product (e.g. a single personal loan or credit card) that has a higher APR. If you’ve been consistently making repayments for a while, your credit score may have improved since you first took out your current credit products. This means you might now be eligible for a better rate and able to reduce the amount of interest you’re paying by switching to a debt consolidation loan with a lower APR.

If you’re thinking of consolidating your loans, credit and store cards into one, you should know that it might mean extending the term (that’s the length in months) of your debt, as well as increasing the total amount you repay.

How long will it take to process a secured loan?

Applicants can complete the secured loan process fairly quickly if you can provide all the information efficiently and accurately.

After you’ve made your secured loan application, you’ll normally receive a quotation that requires both validation and confirmation by your lender. If you decide to take the next step, then your lender will assess your credit report.

If the loan you want is secured against your property, then the lender will want to know its value. In essence, they need reassurance that the amount of equity (another word for ‘worth’ or ‘value’) you have in your home covers the amount of the loan.

With the secured loan process, you may also need to supply banking details and other financial information. This process varies from lender to lender but can take several weeks. You can always ask for an estimated time at the point you decide to proceed.

Check your finance options in minutes

Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.

Secured loans 14.26% APRC Representative (variable). Representative example (if you choose to add fees to the loan): assumed borrowing of £25,000 over 7 years, plus a broker fee of £2,850 and lender fee of £367.50 would result in monthly repayments of £509.96, the borrowing rate is 12.78%, the APRC is 14.26% (variable), total charge for credit would be £14,619.14 and the total amount payable would be £42,836.64. Aro is a credit broker and not a lender. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.