Secured Loans with No Broker Fee!

A Secured Loan is a second charge mortgage which means that you are using your house as collateral to borrow money. Secured Loans are regulated by the Financial Conduct Authority to ensure that you are treated fairly by both lenders and finance brokers.

Did you know that if you use a broker to arrange your loan there is no limit to how much they can charge for their services? Many brokers charge more than a 10% Broker Fee!

What We Do

StarLoans is a specialist Direct Lender only offering Secured Loans. Because you Deal Direct with us you will not be charged a Broker Fee.

Your interests are paramount. We take time to understand your financial circumstances and what is in your best interests. StarLoans is the Lender so we want you to be completely happy with all aspects of our Secured Loans.

We can guarantee a great experience because you are dealing directly with us! Our experienced friendly service has no upfront fees, hidden costs or exorbitant charges. And No Broker Fee means more money in your pocket.

Application will not affect your Credit Score

Applying won’t affect your credit score as we only perform a “soft search” which leaves no footprint on your credit file at a Credit Reference Agency.

At StarLoans we are the lender so when we give you a personalised quote we mean it. Your loan can be for any purpose and we will consider all your circumstances. It just takes two minutes to complete our easy application form after which you are immediately emailed to confirm that we have received your application.

There is no middleman to get in the way. The application form comes only to us. And to no-one else. Ever! We will always respect your privacy.

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Secured Loans from £3,000 to £30,000 for Any Purpose

Secured Loans are typically used for home improvements or debt consolidation. But any purpose can mean a wedding, holiday of a lifetime or helping family on to the property ladder. Since loans are secured on residential property – your home – we prefer that our loans are not used for business purposes.

Home improvements can be expensive but a Secured Loan can spread the cost. Wisely spent, home improvements will increase the enjoyment of your home and should increase your home’s market value. Debt consolidation allows you to settle expensive debt and take control of your finances.

Our Secured Loans have Fixed Interest Rates

Interest rates can move up and down. An unexpected payment increase may cause borrowers financial stress. This cannot happen with StarLoans because all our loans have a fixed interest rate. Our research tells us that this is what you want. With StarLoans you know where you are.

Other lenders usually insert small print enabling them to vary interest rates. This is because they have borrowed money themselves and don’t want to have their profits squeezed! StarLoans is 100% self funded so we don’t need to raise our interest rates in line with the Bank of England Base Rate. Our fixed rates are guaranteed in our credit agreement.

Sensible Alternative to Remortgaging

If you do not want to give up a good mortgage deal or pay a high exit fee to leave your First Mortgage, a Secured Loan is a sensible financial alternative. A mortgage exit fee is called an Early Repayment Charge which you must pay if settling during your mortgage tie-in period. It is usually a percentage of the outstanding mortgage or a certain number of monthly interest payments. The ERC can be high during the early years of a new mortgage but falls over time.

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Reasons to take out Secured Loans

Home improvements and debt consolidation are the most common reasons to take out a Secured Loan. This is because you can usually borrow a larger sum at a lower interest rate over a longer term than unsecured debt.

1. Home improvements may add value to your home and so it makes sense to take out low cost long term borrowing. Over time the cost of your secured borrowing should be more than offset by the increase in your house value plus your enjoyment of living there!

2. Debt consolidation is the refinancing of expensive unsecured debt which enables you to take control of your finances and save money! Consolidating these accounts into a single secured loan will mean one monthly payment rather than many small payments that need paying on different dates.

What should I look out for when taking out a Secured Loan?

Always look at the loan term, interest rate and monthly payment. Remember that your home is at risk and you should budget carefully. We will conduct a thorough affordability assessment but we cannot know your personal finances as well as you do!

Check whether the interest rate is fixed or variable. You do not want to be caught out by an unexpected increase in interest rates and hence an increased monthly payment. StarLoans only offers loans with a fixed interest rate which gives our borrowers certainty in financial planning.

Assess any fees and charges. Whilst a credit broker may find you a good interest rate deal, remember that a commission of say 10% may be charged! Look at penalties associated with missed payments or early settlement. Star Loans only charges fees to cover our administration costs and are therefore kept as low as possible.

  • How flexible is the secured loan?
  • Is the interest rate fixed?
  • Can I borrow more?
  • Are the fees and charges fair?
homeowner loans UK

StarLoans offers flexible loans at fixed interest rates to help you navigate life’s unforeseen events.

Secured Loan for Holiday or Camper Van

Do you have equity in your home and sustainable income? If you can answer yes our secured loans may be suitable for you!

Who are Secured Loans suitable for?

Secured Loans are suitable for homeowners with significant equity in their properties. Equity is the difference between your home’s value and your secured borrowings, such as your mortgage. So if your home is valued at £200,000 and you have a £100,000 first mortgage, you have equity of £100,000. Since most lenders will lend up to 80% of your home’s value, this means you can borrow an extra £60,000!

Lenders have a regulatory duty to ensure that your loan is suitable for your financial and personal circumstances. Unless you can demonstrate sufficient income to afford repayments on a sustainable basis they cannot lend to you! Borrowers will always be asked to prove their income with payslips or company accounts if self-employed.