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Secured Loans

At Deedle, our mission is to assist you in finding the best rates for secured loans. Understanding your specific requirements is our priority. We will scour the market to identify the most competitive deals.

Our expert advisers compare thousands of mortgage products across the market to get you the best secured loan interest rates. To get a free quote, fill in our quick form to chat to an advisor!


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How To Get A Secured Loan

Step 1
Complete Deedle's Form
Quickly fill out our quick, secure form with key details such as your full name and your requirements. This allows us to assess your needs.
Step 2
Receive A Callback
After submitting the form, a member of our team of advisors will call you back to assist you with the whole loan process.
Step 3
Check If You Qualify
Our advisors will ask for important details such as what assets you have available, which helps to determine your borrowing potential.
Step 4
Receive Your Loan
Once we have found a loan to suit your borrowing requirements, our advisers can submit your application and help you get a secured loan today!
What Are Secured Loans?

What Is A Secured Loan?

Secured loans are a type of loan where the borrower provides collateral, such as property or assets, to secure the loan. The collateral works as security for the lender, reducing their risk in case the borrower cannot repay the loan on time.

If the borrower defaults on the loan, the lender can seize and sell the collateral to recover the outstanding balance of the loan. For example, if a borrower is unable to pay a loan secured by their property, the lender will seize the property.

What Is the Difference Between a Secured and Unsecured Loan?

A secured loan requires collateral to secure the loan, while an unsecured loan does not. Because secured loans involve collateral, they generally have lower interest rates and higher borrowing limits compared to unsecured loans.

Unsecured loans, on the other hand, are not tied to specific assets. These loans typically rely on the borrower’s creditworthiness as a means of risk reduction for the lender.

What Is the Difference Between a Secured and Unsecured Loan?

Does a Secured Loan Build Credit?

Yes but you should not use a secured loan as a means to build credit, as there are far less risky ways of doing so. By consistently repaying your secured loan on schedule, you will show responsible borrowing behaviour, which can positively impact your credit history and credit score. If you default on the loan, it can have a negative effect on your credit, on the other hand.

Does a Secured Loan Affect Remortgaging?

Yes, a secured loan can potentially affect your ability to remortgage. When you apply to remortgage your property, the new lender will consider your existing secured loan as part of your overall debt obligations. This can affect their decision to approve your remortgage, or affect the terms.

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Will a Secured Loan Affect My Mortgage?

Yes, potentially. If you have an existing mortgage and you take out a secured loan, it becomes an additional debt secured against your property. This means that in the event of default, both the mortgage lender and the secured loan lender would have a claim on your property’s equity.

What Is a Shared Secured Loan?

A shared secured loan is a loan where the borrower provides collateral jointly with another individual. For instance, a family member or a friend.

Both parties share the responsibility of repaying the loan, and if one of them defaults, the lender can seize the shared collateral to recover the debt.

What Documents Do I Need for a Secured Loan?

Common documents typically include identification (such as a passport or driver’s license), proof of income (pay stubs, bank statements), proof of address (utility bills, rental agreement), details of the collateral being used, and any other supporting documentation requested by the lender.

What Can I Use as Collateral on a Secured Loan?

The specific collateral accepted by secured loan lenders may vary, and the value and condition of the collateral can also impact the loan terms, but common collateral include:

Investment Accounts

Stocks, bonds, mutual funds


Such as a house or land

Savings Account

Subject to minimum amounts

Valuable Possessions

Such as jewellery, artwork, antiques

Business Assets

Such as equipment or inventory


Car, motorcycle, etc.

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Can I Get Secured Loans For Bad Credit?

Yes! While it may be more challenging to obtain a secured loan with bad credit, Deedle will still help you find a lender who can consider your application. Lenders may be willing to consider your application if you have sufficient collateral and can demonstrate the ability to repay the loan.

Can You Use Your Pension as Security for a Loan?

Yes, but it is not always a good idea. Pensions are designed to provide income during retirement and are subject to strict regulations. Withdrawing or using your pension as collateral may have significant tax implications and could impact your retirement savings.

Frequently Asked Questions About Secured Loans

Do Secured Loans Have Lower Interest Rates?

Yes, secured loans generally have lower interest rates compared to unsecured loans. The presence of collateral reduces the lender’s risk, allowing them to offer lower interest rates.

How Long Does It Take To Get a Secured Loan?

Generally, it can take anywhere from a few days to a few weeks to complete the loan process, but this can vary between lenders.

Is PCP a Secured Loan?

No. While PCP involves regular monthly payments and collateral, it is not technically a loan. PCP is a form of hire purchase, where the borrower pays monthly instalments to use the vehicle for a fixed term.

Can I Use a Secured Loan for Any Purpose?

Yes, secured loans can typically be used for a variety of purposes such as:

  • Consolidating debt
  • Making home improvements
  • Funding a business venture
  • Mortgages

What Happens if I Default on a Secured Loan?

In this case, the lender has the right to take legal action to recover the debt. This can include seizing and selling the collateral to repay the outstanding balance. If you are struggling with paying your debts, there are options available to help you.

Can You Get Secured Loans For Self Employed?

Yes, it is possible to get secured loans if you are self employed. Simply complete Deedle’s enquiry form to find out more today.