Secured Loan Calculator

Our secured loan calculator is easy to use and helps you get a quick response when enquiring about the expected amount for your secured loan monthly repayments.

A secured loan is an alternative option to a full remortgage when the client:

  • Is tied to a current mortgage that has redemption penalties
  • Benefits from an existing low-interest rate mortgage but needs to raise capital
  • Is being offered a further advance from the current lender, but at too high a rate
  • Is currently on an interest-only mortgage and does not want to alter this
  • Is raising capital for any legal purpose, including business, tax bills, additional property, and so forth.
  • Has restricted mortgage options due to adverse credit, income, age, equity, and so forth.
  • Has recently become self-employed, retired, or has multiple income sources
  • Is raising capital on an owned buy-to-let property
  • Has been refused a first-charge remortgage
  • Requires a loan for a short period of time.
  • Needs a loan quickly
  • Already has a high LTV
Secured Loan Calculator infographic

An infographic explaining the benefits, considerations and reasons why it is worth using a secured loan calculator.

Our online secured loans calculator makes it quick and easy to provide an overview of the available options; however, it can be tricky to know exactly which details to enter to obtain a near-accurate result.

All lenders outline their own unique lending criteria and quote interest rates based on various factors. In most cases, credit ratings are used as a basis for interest rates and additional charges.

Additional secured loan fees

Along with fixed or variable rates of interest, additional secured loan fees almost always apply. An initial administration, application, or arrangement fee may be payable at the time the homeowner loan is agreed, which is typically between £250 and £1,000. Additional costs to consider include valuation fees and early repayment fees.

Comparing the market in full with an independent broker is the best way to avoid as many of these additional secured loan fees as possible. Fees vary significantly from one lender to the next, underscoring the importance of comparing the market in its entirety.

Variable versus fixed rate loans

A fixed-rate secured loan will be charged at a rate of interest that remains unchanged during an agreed-upon term, whereas variable interest rates can increase or decrease at any time. Variable interest rates usually fluctuate in response to shifting Bank of England base rates or simply at the discretion of the lender.

In both instances, it is important to consider how much you will pay over the lifespan of the homeowner loan, not just which offer initially appears most competitive.