{"id":262454,"date":"2019-11-12T09:15:54","date_gmt":"2019-11-12T09:15:54","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=262454"},"modified":"2026-02-18T14:51:33","modified_gmt":"2026-02-18T14:51:33","slug":"short-term-secured-loans","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/secured-loans\/short-term-secured-loans","title":{"rendered":"Short term secured loans"},"content":{"rendered":"<p>How short is a short term secured loan? Well, these types of loan are typically available with <strong>terms as short as 1 year<\/strong>. Because it\u2019s \u201csecured\u201d, you\u2019re putting an asset on the line (generally your home) as collateral that the lender can claim in the event that you don\u2019t repay. Secured loans also take longer to arrange than unsecured loans \u2013 typically a few weeks rather than the few hours\/days you might expect an unsecured loan to take.<\/p><p>There are some related products which let you borrow against the equity you have in your home for even shorter periods \u2013 like a <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/property-flipping\/bridging-loans\">bridging loan<\/a>, which can be as short as a month, or a <a href=\"finder.com\/uk\/personal-loans\/home-equity-line-of-credit\">home equity line of credit (HELOC)<\/a>, which you can dip into as and when you choose for as long as you need.<\/p><p>There are of course also <em>unsecured<\/em> loan products with very short terms, but these offer smaller sums (a traditional bank loan typically maxes-out at \u00a325,000, and even that will only available for customers with excellent credit and high incomes).<\/p><h3>Is a short-term secured loan right for me?<\/h3><p>To consider any form of secured loan, short-term or otherwise, you\u2019ll need to be comfortable with the idea of putting your house on the line. To put that another way, you\u2019ll need to be certain of your ability to repay.<\/p><p>Secured loans are repaid monthly, over a term ranging from 1-30 years. If, say, you\u2019re buying a run-down property at auction and intend to develop it, but won\u2019t have funds to make monthly repayments on a loan, then a traditional secured loan or mortgage might not be appropriate because it\u2019s repaid monthly. You may wish to consider <a href=\"https:\/\/www.finder.com\/uk\/mortgages\/property-flipping\/bridging-loans\">bridging finance<\/a>, where interest is \u201crolled up\u201d and repaid in one fell swoop with the capital at the end of the loan. <\/p><p>If you\u2019re hoping to borrow for less than a year, it\u2019s likely to be tough to find a secured loan provider offering this facility. You may wish to consider a <a href=\"finder.com\/uk\/personal-loans\/home-equity-line-of-credit\">home equity line of credit (HELOC)<\/a>, which is a bit like a credit card (not a 0% one, alas) in that you can borrow money as and when you need to and make overpayments to clear the debt as fast as you\u2019re able. HELOCs are relatively common in other countries like the U.S. and Australia, but are rare over here.<\/p><p>If you don\u2019t need to borrow tens of thousands, unsecured products should probably be your first port of call. Entering into any form of secured loan isn\u2019t to be taken lightly\u2026 they\u2019re lower risk for a lender, but higher risk for you, the borrower. There are also usually fairly significant fees involved. When you\u2019re borrowing over 30 years, a 4-figure fee might seem less significant, but on a short loan, in addition to the interest, it\u2019s likely to sting.<\/p><h3>Next steps: comparing secured loans<\/h3><p>It\u2019s generally a smart idea to somebody and get personalised quotes and have your options explained. But if you\u2019d rather just estimate secued loan costs based on today\u2019s market rates, we offer a simple calculator for that too! <\/p><div class=\"u-grid\">\n<div class=\"u-grid__col u-1\/1 u-1\/2@s\">\n<a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/uk\/personal-loans\/secured-loan-finder-powered-by-loans-warehouse-uk-secure.html?nb=1&amp;src_country=uk&amp;redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Get%2Bpersonalised%2Bquotes%22%2C%22site%22%3A%22UKFPL%22%2C%22class%22%3A%22luna-button%2Bluna-button--primary%2Bluna-button--large%2Bluna-button--fluid%22%2C%22style%22%3A%22border-radius%253A%2B22px%22%2C%22offer_id%22%3A%2224814%22%2C%22niche_code%22%3A%22UKFPL%22%2C%22product_id%22%3A%225e794d89-1ae4-4cce-902a-50f6f8138ce9%22%2C%22product_name%22%3A%22Secured%2BLoan%2BFinder%2Bpowered%2Bby%2BLoans%2BWarehouse%22%2C%22provider_id%22%3A%229013df25-9c60-4805-89c4-66f0a3d013de%22%2C%22provider_name%22%3A%22Loans%2BWarehouse%22%2C%22post_id%22%3A%22262454%22%2C%22post_path%22%3A%22secured-loans%252Fshort-term-secured-loans%22%2C%22post_country%22%3A%22uk%22%2C%22partial%22%3A%7B%22id%22%3A530729%2C%22name%22%3A%22ukfpl_sec_next_steps%22%2C%22country%22%3A%22uk%22%7D%7D\" class=\"luna-button luna-button--primary luna-button--large luna-button--fluid\" style=\"border-radius: 22px\">Get personalised quotes<\/a>\n<\/div>\n<div class=\"u-grid__col u-1\/1 u-1\/2@s\">\n<a href=\"https:\/\/www.finder.com\/uk\/secured-loans\/secured-loan-calculator\" class=\"luna-button luna-button--primary luna-button--ghost luna-button--large luna-button--fluid\" style=\"border-radius: 22px\">Market rates calculator<\/a>\n<\/div>\n<\/div>\n\n<div class=\"text-center text-small fin-text-grey\">We compare lenders including:<\/div>\n<div class=\"text-center has-margin-bottom\">\r\n<div class=\"has-padding-bottom-medium\" style=\"margin:auto\">\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png\" alt=\"Masthaven Bank\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5dcad9394f8b0.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png\" alt=\"Together\" srcset=\"https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/61f923cc1a390.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png\" alt=\"United Trust Bank Ltd\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5dcadb170b249.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png\" alt=\"Equifinance\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5dd67e1ec7539.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png\" alt=\"Selina\" srcset=\"https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/66312ae9b68b1.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png\" alt=\"Pepper Money\" srcset=\"https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/6214b37dd0a86.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" loading=\"lazy\">\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<div style=\"width: 12%; min-width: 111px; display:inline-block;\">\r\n<div style=\"padding: 1.5em 1.25em 0em 1.25em\">\r\n<img decoding=\"async\" src=\"https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png\" alt=\"Norton\" srcset=\"https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png?fit=180 180w, https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png?fit=360 360w, https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png?fit=600 600w, https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png?fit=900 900w, https:\/\/www.finder.com\/niche-builder\/5dcb27273408f.png?fit=1200 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" 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r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n<\/div>\r\n<\/div><h3>Pros and cons of short term secured loans<\/h3><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li><strong>Better rate.<\/strong> You'll generally get a lower interest rate on a secured loan than you would with an unsecured personal loan.<\/li>\n                                    <li><strong>Lower cost.<\/strong> The shorter your loan term, the less you'll pay in overall interest. This means that a short term secured loan will cost less than the equivalent long term secured loan. Depending on how much you borrow, the difference could be hundreds or thousands of pounds.<\/li>\n                                    <li><strong>You'll be out of debt more quickly.<\/strong> If you continue to make your monthly repayments, you can pay off the loan faster. This will also likely improve your credit score by demonstrating to lenders that you can handle debt, which means you may receive more favourable terms if you take out another loan in the future.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li><strong>Higher repayments.<\/strong> As you'll have less time to pay off the loan amount, the size of your monthly repayments will be higher than they would be on a loan with a longer term. This may make it harder to afford the loan's cost.<\/li>\n                                    <li><strong>Your equity is at risk.<\/strong> With a secured loan, the asset you use as collateral may be lost if you don't repay the loan on time.<\/li>\n                                    <li><strong>Limited availability.<\/strong> To qualify for a short term secured loan, you'll need to have access to home equity (or another asset) that you're willing to use as security. If not, you won't be able to apply.<\/li>\n                                    <li><strong>Fewer loan options.<\/strong> While most lenders offer unsecured personal loans, it's generally only specialist lenders that provide secured loans. This means you'll be limited in the loans you can apply for.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n<h3>Can I get a short term secured loan with no credit check?<\/h3><p>No. Before you\u2019re approved for a secured loan, the lender needs to perform a credit check to determine the likelihood that you will repay your loan. However it\u2019s worth noting that having security reduces <em>some<\/em> of the risk to the lender, and so your credit score may not be as big a factor as it is in unsecured lending (but it will be <em>a<\/em> factor).<\/p><h4>Can I get approved if I have bad credit?<\/h4><p>Yes, you can still get a secured short term loan with bad credit, though you\u2019ll likely receive a less favourable rate and loan terms compared to someone with a good credit score.<\/p><h3>What are my other short term loan options?<\/h3><p>You may also want to consider an <a href=\"https:\/\/www.finder.com\/uk\/personal-loans\">unsecured personal loan<\/a> if you\u2019re looking for a loan with shorter terms. You\u2019ll likely receive a slightly higher rate than you would on a secured loan but do not need to risk an asset as security against the loan.<\/p><h3>Bottom line<\/h3><p>As with all secured loans, the asset you put up against the loan is at risk. Should you default on the loan, your asset, such as your house, would be repossessed. Whilst you may have a higher chance of getting a secured loan with bad credit, provided you can put up a suitable asset as collateral, you should only take one out if you\u2019re sure you can make the repayments.<\/p><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\"><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000000\" data-toggle=\"collapse\" data-target=\"#accordion0000000000\">\n        <span class=\"luna-accordion__title\">How quickly can I repay my loan?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000000\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Most loans come with a minimum term of one year. You can typically pay the loan off early, but are likely to incur a fee.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000001\" data-toggle=\"collapse\" data-target=\"#accordion0000000001\">\n        <span class=\"luna-accordion__title\">How much can I borrow with a secured loan?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000001\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>You can borrow up to \u00a32.5 million on a secured loan, but this depends on the amount of equity you have to use as collateral.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000002\" data-toggle=\"collapse\" data-target=\"#accordion0000000002\">\n        <span class=\"luna-accordion__title\">Who offers short term secured loans?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000002\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>Secured loans are generally provided by specialised lenders and are not offered by traditional banks. If you\u2019re looking for a shorter loan term with your current bank, you may want to consider a regular <a href=\"https:\/\/www.finder.com\/uk\/personal-loans\">personal loan<\/a>.<\/p><\/div>\n  <\/div>\n<\/li><li class=\"luna-accordion\" data-accordion=\"accordion\">\n  <div class=\"luna-accordion__summary\">\n    <h4 class=\"luna-accordion__heading\">\n      <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"accordion0000000003\" data-toggle=\"collapse\" data-target=\"#accordion0000000003\">\n        <span class=\"luna-accordion__title\">What happens if I don't repay my secured loan?<\/span>\n        <svg class=\"luna-icon\" aria-hidden=\"true\">\n          <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n          <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n        <\/svg>\n      <\/button>\n    <\/h4>\n  <\/div>\n  <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"accordion0000000003\" data-accordion=\"details\">\n    <div class=\"accordionContent\"><p>If you fail to make your repayments, you\u2019ll lose the equity you have in your house. In certain situations, this may mean that your house is sold to recoup the loan\u2019s cost.<\/p><\/div>\n  <\/div>\n<\/li><\/ul><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms \"best\", \"top\", \"cheap\" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our <a href=\"https:\/\/www.finder.com\/uk\/terms-of-use\" class=\"fin-text-navy\">terms of use<\/a>. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>Short term secured loans let you borrow up to \u00a32.5 million with more competitive rates but also help keep your overall interest costs down. <\/p>\n","protected":false},"author":748,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[10875],"tags":[],"asset_tag":[],"class_list":["post-262454","post","type-post","status-publish","format-standard","hentry","category-secured-loans"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - 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