The Top 11 Secured Loan Lenders

Pepper Money

Pepper Money is a trading style of UK Mortgage Lending Limited and also Pepper Money Limited. Their UK offices are in Cardiff, London and Manchester.

Originating from Australia, Pepper Money started in 2000, then in 2013 they acquired UK based Oakwood Servicing and later in 2015 they started trading in the UK.

In 2018 Pepper acquired Optimum Credit, a secured loan lender based in Cardiff. This led to Pepper Money and Optimum Credit integrating in 2022 to become UK Mortgage Lending Limited, who trade as Pepper Money.

Why Pepper Money are one of our Top 11 secured loan lenders

• They currently have the lowest second charge interest rates - these start from 5.69% pa
• Lots of electronic systems, making them a fast lender with an easy process
• Speed - Can complete loans within 48 hours of application
• Good AVM (Automated Valuation Model) system up to 100% LTV - 90% of loans applications do not require a valuation
• No restrictions on Right to Buy properties - therefore will lend on RTB properties still in their pre-emption period
• Interest only loan options are available - very useful for borrowers who want to remortgage in a couple of years but in the meantime want to keep their repayments down.
• Very good customer service
• Fast completions - can complete in 48 to 72 hours on many cases
• Can lend to 100% LTV on specific loan plans
• Will pay out loans before first charge lender consent is received - Where consent for a second change is required from a mortgage company, Pepper will pay out before it arrives, as this can take some time. Pepper championed this option.

Main Lending Criteria for Pepper Money

• Minimum loan size is from £15,000 and maximum is £1 million
• Loan terms from 3 to 30 years
• Minimum valuation is £75,000
• Applicants must be aged between 21 - 65 years old
• Maximum age at the end of the loan term is 80 years old

Admiral Money

Admiral Money was launched in June 2017 when they started providing unsecured loans.

They are part of the Admiral Group, a FTSE 100 company, that was founded in 1991 and are very well known in Financial Services as being a main provider of insurance products in the UK.

They entered the secured loan market in 2025 where they are providing an excellent service to brokers as well as customers.

Reasons why Admiral Money are one of our Top 11 secured loan lenders

• Rates from 5.84% pa
• Very fast lender - Their speed of service is exceptional - aiming to complete loans in 24 hours
• AVMs on all cases
• Will pay out before getting consent
• A good range of secured loan products
• Fixed rates - Fixed rate terms of 1, 2, 3, 4 and 5 years are available
• Loan facilities that have no ERCs (Early Redemption Charges) - this is really useful for borrowers looking to remortgage or sell their property in the not too distant future.

Main Lending Criteria for Admiral Money

• Minimum loan size of £20,000 and maximum loan size is £500,000
• Loan terms from 3 to 35 years
• Maximum LTV is 90%
• Minimum property value is £100,000
• Applicants need to have a fairly good credit history - Clean credit history to very little adverse credit only
• Applicants must be aged between 21 - 65 years old
• Maximum age at the end of the loan term is 75 years old.

Tandem Bank

Tandem Bank was founded in 2014 as a challenger bank with a digital platform focussing on mortgages and savings.

In 2022 Tandem acquired Oplo, who were a lender specialising in personal and secured loans. Oplo were originally set up in 2005 as 1st Stop Group Limited, becoming Oplo in 2009.

Tandem are based in Blackpool, Cardiff, London, Manchester and Durham.

Why Tandem are one of our Top 11 secured loan lenders

• Lowest rates from just 5.9% pa - If the security property has an EPC rating of A, then there are some reduced interest rate available.
• Adverse credit plans - plans available that will provide loans for applicants with quite a lot of adverse credit
• 100% LTV plans
• No minimum valuations
• All property construction types
• AVMs up to 100% LTV
• Cheapest high LTV plans on the market by far - for loans at 85% to 100% LTV, Tandem offer the cheapest interest rates, being at least 2 to 3% pa cheaper than their competitors
• Tandem will provide third charge loans on some plans - therefore they can lend on shared ownership properties
• Can complete on loans where land registry has not been updated - sometimes there are mistakes, or delays at land registry - Tandem will still look to complete when this has occurred.

Main Lending Criteria for Tandem Bank

• Loans from £10,000 to £250,000
• Loan terms from 5 to 35 years
• Applicants must be aged between 21 - 70 years old
• Maximum age at the end of the loan term is 75 years old.

Interbridge Mortgages

Interbridge Mortgages launched in May 2024. Based in Cardiff they have a very experienced team who previously set up two other secured loan lenders, firstly Nemo Personal Finance in 2005, who are part of the Principality Group, then in 2013 Optimum Credit. Optimum was later acquired by Pepper Money in 2018.

Interbridge are a very efficient lender with a digital process for AVMs and Hometrack valuations.

Why Interbridge are one of our Top 11 secured loan lenders

• Interest rates available from 5.85% pa
• Very efficient and fast - have a digital process for AVMs and Hometrack.
• Have loan plans up to 95% LTV.
• AVMs up to 95% LTV - valuations often not required.
• Will lend to applicants who will be 80 years old at the end of the loan term, using pension income in their affordability calculations.
• Have some good bespoke loan products.

Main Lending Criteria for Interbridge Mortgages

• Loans from £15k to £500k.
• Loan terms 5 to 30 years.
• Will look at adverse credit but not much - will in certain cases accept up to 4 defaults.
• Repayment loans only.
• Second charge loans only.
• Applicants must be aged between 21 - 70 years old - pension income can be used.
• Maximum age at the end of the loan term is 75 years old.

United Trust Bank

Started providing secured loans in 2016

United Trust Bank started trading in 1955 when they were known as Eagil Trust Co. Limited.

They were renamed United Trust Bank in 1994

In 2001 they were acquired by Insigner de Beaufort then in 2003 they underwent a management buyout.

It was in 2016 when United Trust Bank started providing Secured Loans.

Why United Trust Bank are one of our Top 11 secured loan lenders

• Interest rates available from 5.99% pa
• Good at large loan sizes up to £2 million
• Loans of up to £500,000 up to 85% LTV - other lenders limit to £250,000 up to 75%
• Minimum age 18 years old.
• Electronic application process.
• First charge loans available from £25,000 - rates start from 5.39% pa for first charge loans.

Main Lending Criteria for United Trust Bank

• Loans from £10,000 to £2 million
• Loan terms 3 to 35 years
• Maximum LTV is 85%
• Applicants must be aged between 18 - 70 years old
• Maximum age at the end of the loan term is 85 years old.

West One Loans

With their current head office in Watford, West One Loans started trading in 2002, initially just providing bridging loans. They have since expanded their product range, adding secured loans in 2014.

Why West One Loans are one of our Top 11 secured loan lenders

• Interest rates from 7.59% pa
• Good for providing loans to applicants with adverse credit
• Will provide loans for applicants who have been self employed for just 1 year
• Very flexible for self employed applicants
• Do not increase interest rates for self-employed applicants
• A good speed of service
• AVMs available up to 80% LTV
• Minimum property valuation £80,000
• Loan terms up to 40 years
• Max LTV up to 97.5%
• Foreign nationals accepted
• Interest only options available
• First charge loan plans
• Fast service
• Very flexible underwriting
• Self-employed accepted
• Interest only options available
• Shared ownership - up to 100% LSV
• Right to Buy - up to 100% discounted value
• No valuations
• Free legal

Main Lending Criteria for West One Loans

• Loans from £10,000 to £1 million
• Loan terms 3 to 40 years
• Over 85% LTV rates are around 12% pa

Main Lending Criteria for First Charge Plans

• Loan sizes from £25,000 to £2.5 million
• Rates from 5.69% pa
• Loan terms 5 to 40 years
• Interest only up to age 75

Step One Loans

Step One Finance Limited started trading in November 2010 then launched their second charge loan products in May 2012. Based in London, they provide secured loans from £10,000 to £150,000.

Why Step One Loans are one of our Top 11 secured loan lenders

• Loans from just £5,000
• Interest rates from 5.95% pa
• Really good service
• Provide equitable charges - This is very useful if the first charge lender will not give consent to having a second charge.
• Maximum LTV is 95%
• AVMs up to 95%
• 5 year fixed rate that has no early redemption charges after 3 years.
• Good affordability model, so are really good when income is tight.
• Flexible for different types of employment and very good for applicants who are agency workers or have short contracts.
• Can provide loan terms with later life end dates - Loan terms can be taken up to the 85th birthday of the oldest applicant.

Main Lending Criteria for Step One Loans

• Loans from £5,000 to £500,000
• Loan terms from 6 to 30 years
• Lender fees are charged at 2% and they are not capped
• Adverse credit - will do a little
• Minimum age is 21 and maximum is 85 years old by the end of the loan term.

Masthaven

One of the more complex stories, Masthaven was founded by Andrew Bloom in 2004, and was known then as Masthaven Solutions.

They initially focused on providing bridging loans and secured loans, then in 2016 they obtained a full UK banking licence. Following becoming a bank they introduced more products such as savings accounts and mortgage products.

Varde Partners invested in Masthaven Bank in 2019, and Andrew Bloom sold his controlling interest and stepped down as CEO in 2020. Then in February 2022 Masthaven withdrew from the UK banking market.

Andrew Bloom purchased Spring Finance in October 2021 and three years later in October 2024 he purchased back much of the Masthaven assets. Under the Masthaven Finance brand name, he then merged this with Spring Finance, to become a non-bank lender once more.

Why Masthaven are one of our Top 11 secured loan lenders

• Adverse credit plans - really competitive for providing secured loans to borrowers who have adverse credit
• Special plan up to 65% LTV that will consider any amount of adverse credit - Interest rate for this plan is 13.4% pa
• Will provide loans from just £10,000

Main lending criteria for Masthaven secured loans

• Interest rates from 7.9% pa
• Loans from £5,000 to £300,000
• Loan terms 2 to 30 years
• Second charge secured loans up to 80% LTV
• Maximum LTV is 80%
• AVMs up to 65% LTV.

Equifinance

Equifinance are a London based secured lender who entered the market whilst it was still recovering from the credit crunch and resultant financial crisis. 

The legal company was incorporated as Consumer Finance Marketing Limited back in July 2010. Their name changed to Equifinance limited in January 2011, and they started lending during 2011 and 2012. 

Equifinance is a privately controlled, non-bank specialist lender, with one person having over 75% ownership and voting rights.

They have grown from being a small secured lender into a large second charge mortgage business, that operates a very successful broker only model.

Why Equifinance are one of our Top 11 secured loan lenders

• Plans available with no Early Repayment Charges
• A low minimum property value of £75,000
• Facilities available that do not require consent from the borrowers first charge mortgage provider
• Electronic signatures are accepted
• Applicants who have only been self employed for 1 year
• Applicants with eligible visas may be considered
• Short leases 55 years or more remaining
• Flexible underwriting – loan options for poor credit and arrears

Main lending criteria for Norton Home Loans

• Interest rates from 5.95% pa
• Loans from £10,000 to £250,000
• Maximum 100% LTV
• Loan terms 3 to 30 years

Selina Finance

Selina Finance started trading in July 2019 and became regulated by the FCA in 2020. They then launched secured homeowner loans in 2022.

As a high tech, digital lender, they are efficient, offer a great service and deal with applications quickly.

Why Selina Finance are one of our Top 11 secured loan lenders

• Interest rates from just 5.89 pa
• Maximum 100% LTV
• Fast and efficient from application to completion
• AVMs up to 85% LTV
• NO ERC Plans - No early redemption charges on some plans
• HELOC Facility - Home Equity Line Of Credit - This is basically a drawdown facility with no ERCs.
  It's a flexible Home Equity Line Of Credit where interest is only charged on draw downs. Funds can also be redrawn during the draw period.

Main Lending Criteria for Selina Finance

• Loans are available from £10,000 to £500,000
• Terms from 5 years to 30 years
• Interest rates are from 5.89%
• Selina operates a dynamic pricing system, therefore pricing each application individually depending on circumstances.

Evolution Money

Evolution was incorporated in August 2009 when they were known as Escape Financial Services Limited. Based in Manchester they started trading in May 2011 under their Evolution Money brand.

Why Evolution Money are one of our Top 11 secured loan lenders

• Products are available up to 110% LTV
• Applicants with adverse credit history - all types of credit considered
• Will lend in Northern Ireland
• Can provide 3rd charge secured loans
• Shared ownership properties
• Lending behind Help to buy
• Affordability - will consider all types of income, if they are recieved regularly
• Low exit fees on their loan plans

Main Lending Criteria for Evolution Money

• Loans from £3,000 to £100,000
• Terms from 3 years to 20 years
• Interest rates from 9.68% pa
• Max age is 70 years old

Other Good Lenders to Note

Norton Home Loans is a specialist secured loan provider based in Rotherham who were set up in 1985.

Why Norton Home Loans are one of our Top 11 secured loan lenders

• Very good at providing loans where there is adverse credit and can do this from just 8.11% pa
• Specialist products for borrowers who need to prove income from multiple jobs, contracts and agency workers
• Can consider applicants who have been self-employed for 6 or more months
• First charge loan plans available
• Non standard construction and properties in poor state of repair considered.

Main Lending Criteria for Norton Home Loans

• Rates from 8.11% pa
• Loans available from £3,000 to £250,000
• Loan terms 1 to 25 years
• Minimum age is 21
• Maximum age - 85 years by end of the loan term