Get a Secured Loan
Against Your Property
or Vehicle

Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).

Secured Loans Bad Credit | Secured Loans Direct Lenders


Secured loans allow you to borrow money secured against something valuable you own, such as your car, property, jewellery or art. Being “secured” means that your loan is attached to something valuable and the amount you can borrow is based on the value of this asset or collateral – and this can sometimes help you borrow much more than an unsecured loan.


Importantly, borrowers must be aware that their collateral is at risk and if they fall behind on repayments, they can potentially lose their asset through repossession.


Badger Loans works with a range of secured lenders in the UK and can help you find the best rates and terms, whilst keeping your collateral as safe as possible. Depending on the value of your asset, you can borrow up to £1 million and repay over 10 or 20 years.

Secured Loans Against Property


The most common types of secured loans are usually against your property such as a home, flat or motorhome. To be eligible, you will need to be the homeowner and the lender will need to know what equity you have in your home and the outstanding balance of your mortgage.


The more equity in your home and the more the property is worth, the more you can usually borrow – and this can often be amounts such as £50,000, £100,000 or more.


If you have a mortgage already, any additional loans against your home as referred to as ‘second charge mortgages’ – because it is essentially the second charge taken from your bank account after your first mortgage.


To proceed, the lender will usually send a chartered surveyor to value your property and you will need to show proof of ownership including things like recent utility bills.

Secured Loans Against Cars 


For borrowing smaller amounts, you can borrow money against your car, van or bike. Most secured lenders will offer up to 50% of the value of the car upfront and usually they require the vehicle to be less than 7 years old. Customers can borrow up to £50,000 repaid over 1 to 5 years in monthly instalments.


To be eligible, you will usually need to show ownership of your vehicle and some cases, this could be a V5 logbook which is a document kept inside the car. When applying, you are essentially handing your logbook over to the lender and once the loan is fully repaid, it is returned to you.


Borrowers are encouraged to repay their secured car loans on time or they risk their vehicles being repossessed by the lender in order to recover their losses.

Types of Secured Loans 


  • Car loans
  • Collateral loans
  • Debt consolidation loans
  • Home loans
  • Home improvement loans
  • Logbook loans
  • Second charge mortgages


What is the Eligibility for Secured Loans?  


  • Over 18 years of age
  • Full-time UK resident
  • Employed and able to afford monthly repayments
  • Sole owner of the property, vehicle or asset
  • Not too many other credit commitments or loans outstanding


What Are Secured Loans Used for?


  • Weddings
  • Education
  • Holidays
  • Debt consolidation
  • Home improvements
  • Car purchases
  • Starting a business

Will My Home or Vehicle Be Repossessed? 


If you fail to keep up with your monthly repayments, your home or vehicle may be repossessed by the lender. Your secured loan is given to you upfront in one lump sum and if the lender does not receive their repayments, they will need to take the necessary measures in order to retrieve their loss of funds.


However, repossessing items does create extra work for the lender (especially a home) – so they will usually take all the precautions they can and try other means of collecting their funds through emails, phone calls and letters. Repossession is usually a last resort.


Are Secured Loans for Bad Credit Available?


Yes, secured loans for people with bad credit is often used, because whilst your income and credit score is important, the true success of your application is based on the value of your asset.


So if you have a very valuable asset such as a home or item of jewellery, the lender will be willing to take a view and consider you for a secured loan, even if you have a poor credit history.


Will You Run a Credit Check on a Secured Loan? 


Yes, the best secured loans companies will run a credit check for every applicant, but this is likely to be a ‘soft credit check’ which will not impact your credit score.


Your credit score is taken into consideration when applying for a secured loan, but there are a lot of lenders that will take a view on bad credit histories. They may look at your more recent credit history and if you are improving, this could help your eligibility. Equally, if your asset is very valuable, they will take this into account.


How to Apply for Secured Loans with Badger Loans 


Our entire loan application is completed online in less than 5 minutes. You can receive an instant decision on screen from a list of secured lenders and proceed with the lender of your choice.


There are usually extra checks with secured lenders since you have to confirm your ownership and value of the collateral you are using.


However, most applications are processed immediately and for smaller amounts, this can be funded within 1 week or larger amounts within 2 to 3 weeks of applying.

Apply for a Secured Loan Online Today

Representative Example: Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).


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