Secured Bad Credit Loans - Loanable | Secured Loan Specialists

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Understanding Bad Credit Loans

A secured loan for bad credit from Loanable is tailored to help individuals with poor credit history secure the funds they need. Your property backs these loans, and they can offer a practical solution for those who might find it challenging to get financial assistance elsewhere.

Here’s why our bad credit secured loans might be the right choice for you:

  • Simple and Manageable: Managing finances with a bad credit history can be stressful. At Loanable, we’re here to ease the strain. Our loans range from £10,000 to £1 million, helping you finance your needs with a single, regular repayment.

  • Flexible Terms: Everyone’s financial situation is different. That’s why our repayment periods vary from 3 to 30 years, allowing you to choose a term that suits your circumstances best.

  • Cover Various Needs: Whether you’re planning home improvements, consolidating debts, or meeting personal needs, our secured loans for bad credit can help you realise your goals.

  • Understanding Approach: Traditional lenders often focus solely on credit history. But at Loanable, we look at your complete financial situation. So, even with a poor credit history, you could still qualify for a Loanable secured loan.

  • 100% LTV Products Available: Need a loan that covers the total value of your property? We’ve got you covered. We offer 100% Loan-to-Value (LTV) products too.

At Loanable, we’re not just about providing loans. We’re committed to helping you navigate your financial journey with an experienced team ready to support you every step of the way. With our bad credit secured loans, we aim to make your financial aspirations a reality.

The Benefits of Choosing Loanable Bad Credit Loans

Our goal at Loanable is to support you through your financial journey. Our bad credit secured loans offer numerous benefits, empowering you to manage your financial obligations with confidence, regardless of your financial history.

  • Easy Financial Management: Juggling multiple repayments to various lenders can be stressful. Our bad credit secured loans present a solution to this problem. By consolidating your debts into a single regular payment, you can simplify your finances and handle your financial commitments more effectively.

  • Repayment Terms to Suit Your Needs: We understand that everyone’s financial situation is unique. With repayment terms ranging from 3 to 30 years, we offer the flexibility for you to choose a repayment period that suits your financial capabilities and needs.

  • We Consider Your Overall Financial Picture: A not-so-great credit score shouldn’t keep you from reaching your financial goals. At Loanable, we consider your overall financial situation, not just your credit score, when making our lending decisions.

  • No Upfront Credit Checks: We know that applying for a loan can feel daunting, especially if you’re concerned about the impact on your credit score. That’s why we don’t perform initial credit checks. Instead, we assess your overall financial health to inform our lending decisions.

Choose Loanable’s bad credit secured loans for a more compassionate and understanding approach to lending.

Secured Bad Credit Loan Use Cases

Our bad credit secured loans can be useful in various situations. Here are some common examples where a bad credit secured loan could be the right choice:

  • Consolidating Debts: If you’re dealing with lots of debts from different lenders, a bad credit secured loan can help tidy things up. By merging all your debts into one loan, you only have to worry about one regular payment. To know more, check out our debt consolidation loans.

  • Home Improvements and Fixes: Planning to spruce up your house or make a big change? A bad credit secured loan can give you the money you need. Maybe you want to redo your kitchen, build an extension, or turn your attic into a home office. By using your home’s value, you can get the funds to make your plans happen. For more information, take a look at our home improvement loans.

  • Buying a Car or Planning a Wedding: Big life events like getting a new car or planning a wedding can cost a lot. A bad credit secured loan can help you manage these expenses without stretching your budget too thin. By paying back the loan over a longer period, you can handle these big costs more easily.

  • Starting a Business: Setting up a new business usually needs a big starting budget. A bad credit secured loan can give you the money you need to get your business running. Whether it’s for buying equipment, renting an office, or covering the first few months of costs, a bad credit secured loan can help you turn your business dream into reality. If you’re considering starting a new business, also see our business loans.

  • Improving Cash Flow: Debts with high interest rates can take a big chunk out of your monthly income. By moving your debts into a bad credit secured loan with a better interest rate, you could lower your monthly payments and have more money left over.

  • Fixing Your Credit Score: Keeping up with lots of payments can be tough, and missed payments can harm your credit score. A bad credit secured loan can help fix your credit by merging lots of debts into one easy payment.

At Loanable, we’re all about giving you financial solutions that fit your unique needs. Count on us to guide you to a more manageable financial future.

Are You Eligible for a Loanable Secured Bad Credit Loan?

We are committed to ensuring our bad credit loans are within reach. Our primary aim is to assist you in regaining your financial foothold, whatever your circumstances may be.

Here’s a broad overview of our eligibility criteria and stipulations:

  • Age Requirement: You need to be at least 21 years old to apply for a Loanable secured bad credit loan.

  • Property as Security: A bad credit loan requires a property as collateral. This could be your residence or another property you own.

  • Proof of Ability to Repay: While we don’t exclusively base our decisions on your credit history, we do need evidence that you’ll be able to repay the loan. This could come in the form of income details, savings, or a budget plan reflecting your ability to manage the new loan repayment.

  • Residency: Our debt consolidation loans are available to UK residents. In terms of documentation, we usually require:

    • Proof of identity (e.g., a passport or driving license)
    • Proof of address (e.g., a utility bill or bank statement)
    • Proof of income or repayment plan
    • Details about the property being used as security

We’re proud of our inclusive approach to lending. Don’t let a lack of traditional qualifications or a poor credit history stop you from applying for a secured bad credit loan with us. We’ll look at your entire financial situation and work hard to find a solution that suits you. Apply today and let us help you streamline your financial management.

How to Apply for Your Bad Credit Loan

We understand that dealing with money matters can be overwhelming, which is why we’ve made our loan application process straightforward and hassle-free. Here’s your step-by-step guide to applying for a bad credit secured loan with Loanable:

  • Step 1: Complete Our Online Form
    Start by filling in our simple online form. We’ll need a few basic details about you, the loan amount you want, and the property you’re using as collateral.
  • Step 2: Talk with Our Advisors
    Once we get your online form, one of our friendly and skilled advisors will get in touch. They’ll chat about your individual needs and financial situation, and they’ll be happy to answer any questions. This conversation lets us tailor the loan to fit your unique needs.
  • Step 3: Get Your Personalised Loan Proposal
    After we talk with you, we’ll use our know-how to find the best lender for you and put together a loan proposal that fits your situation. We’ll send this proposal to you for you to look over and approve.
  • Step 4: Legal and Property Checks
    When you’ve approved the proposal, we’ll go ahead with the needed legal checks and property valuation. We aim to do these checks quickly to avoid slowing down your loan process.
  • Step 5: Loan Payout
    After we’ve successfully done all the checks, the lender will release the funds. How long this takes can vary, but we always aim to get the money to you as soon as we can.

 

Our team of expert advisors is on hand seven days a week to help you throughout the application process. Feel free to reach out to us anytime. Getting a bad credit secured loan with Loanable is this simple! Start your application today and take the first step towards reaching your financial goals.

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Bad Credit Loan FAQs

At Loanable, we’re all about making your financial journey simple and transparent. So, we’ve gathered your most common questions about our bad credit loans, providing you with all the answers you need in one place.

A bad credit secured loan is a type of loan that caters to people who have less-than-ideal credit scores. These are often people who’ve had issues with debt repayment in the past, which adversely affected their credit scores. 

Remember, it’s crucial to ensure that you can meet the repayments of a secured loan, as your property will be at risk if you fail to repay the loan. Always consult with a financial advisor or trusted expert before making a decision.

Your Trust is Our Reward

At Loanable, your trust is paramount to us. We’re proud to be fully authorised and regulated by the Financial Conduct Authority (FCA). This means we adhere to the highest standards of conduct in the financial services industry, putting your interests at the heart of our business.

We’re also humbled and grateful for our clients’ positive feedback, earning us over 150 5-star reviews on Feefo.

Take the first step towards securing your property goals with a company that’s trusted by hundreds of homeowners across the UK. Get in touch with us today to explore your bridging loan options.

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Get in touch

We’ve made sure you have various ways to reach out to us. Whether you have questions, need more information, or are ready to apply for a loan, we’re here to help!

Phone: You can call us directly at 01925 988055. Our friendly team is available Monday-Sunday from 9am-7pm to assist you.

Email: Prefer typing out your queries or concerns? No problem! Reach us at [email protected], and we’ll get back to you as soon as possible.

Physical Address: If you’d rather speak to someone in person, you can visit our office at The Old Rectory, Rectory Lane, Winwick, Warrington, WA2 8LE.

Taking the Leap with Loanable:
Ready to bridge the gap in your finances with a bridging loan from us? Wonderful! Click the “Complete Our Form” button below, and let’s get started. Or if you have more questions, don’t hesitate to reach out to our team. We’re always here to ensure you have all the information you need to make the best decision. Your financial future awaits, let’s explore it together with Loanable!

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About Us.

We’re based in the North West of England with a dedicated, experienced team of  advisors helping homeowners, property developers and investors across the United Kingdom. We have access to over 400loans from the nation’s top lenders. We’ll match your individual circumstances to the right advisor who will source the best lender and ensure you get the correct deal.

We’re open 7 days a week Simply complete the form and one of our advisors will make contact and talk you through your options.

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