From July 2026, Jubilee 2000 has a new lender for UK homeowners.
You can now get a secured loan with bad credit from a direct lender with the following terms:
- 7.21% capped rate, which never goes above 7.21% but goes down as base rates go down
- Loan-to-value of up to 90%
- Available to homeowners with a mortgage only
- No early repayment charges
- No lender, broker or adviser fees
- A free automated home valuation
- There are no valuation penalties for flats and other leasehold properties
- A decision in principle with a soft credit search that no one else can see
- Up to one payment holiday per year
- Flexible approach to previous credit difficulties
- It can be used to repay an existing secured loan or other charge
- Ideal for debt consolidation
- No upper age limit
- Easy online application
- Fast completions often in less than 10 working days
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Bad credit secured loan from a direct lender
A direct-lender secured loan can suit homeowners who want the application to go straight to the lender without paying a broker fee. The direct route is simple: you complete the online form, the lender checks your affordability, and the automated valuation gives a quick view of the available equity.
This page is mainly for homeowners who want a secured loan with a history of credit problems and who would prefer a soft-search decision before moving forward. A soft search lets the lender review your position without leaving the kind of mark that other lenders typically see.
If your main reason for borrowing is to tidy up existing credit, a guide to debt consolidation loans can help you see how one secured loan may replace several separate payments.
How the direct lender process works
After the initial form, the lender usually asks for proof of income, mortgage details, and permission to check the figures you provide. For employed applicants, pay slips and bank statements may be sufficient. For self-employed applicants, the lender may check declared earnings against HMRC records.
Homeowners who are new to second-charge borrowing may want to read homeowner loans explained before applying, as it sets out how borrowing against equity typically works.
The home valuation is normally the part that slows older-style applications. With an automated valuation, the lender can often form a view much faster, especially where the property is a standard house or flat with good local data.
For a closer look at the timings, the secured loan application timescale guide explains why some cases move quickly and why others need more checks.
Why homeowners use a secured loan for consolidation
Many homeowners use this type of borrowing to clear credit cards, personal loans, car finance, store cards, catalogue balances, and bank account borrowing. The aim is to replace several higher-rate repayments with one monthly secured loan payment.
If credit cards are the main issue, a credit card debt consolidation loan can be a useful way to compare the monthly payment before and after consolidation.
Some borrowers want the lowest monthly payment, while others want to reduce debt more quickly. The guide on how to get out of debt quicker with one loan covers the difference between lowering payments and shortening the repayment plan.
When the numbers are not obvious, a secured debt consolidation calculator can help you estimate interest and repayment amounts before speaking with the lender.
Bad credit does not have to stop the application
The lender is mainly looking at income, affordability, home equity, and the reason for borrowing. Previous arrears, defaults, missed payments, or a low score may still be workable where the new payment looks affordable.
Applicants who want more background can read about how to get a debt consolidation loan with bad credit, especially when older credit problems make traditional lenders unhelpful.
If you want to compare the wider market, the page on secured loans for bad credit looks at the features homeowners often check before choosing a lender.
Where speed matters, some homeowners prefer secured loans for bad credit with an instant decision, as the first response can be issued without a full manual review by the lender.
Loan size and loan-to-value
The amount available usually depends on the property value, the existing mortgage balance, and the lender’s maximum loan-to-value. With this lender, the overall loan-to-value can be up to 90%, which can help homeowners who need a larger consolidation figure.
For a smaller balance, a £10,000 debt consolidation loan may be enough to clear several expensive credit accounts and leave one easier monthly payment.
Where the total is higher, a £25,000 secured homeowner loan can suit borrowers who want to clear cards, loans, and other household borrowing in one go.
For more substantial borrowing, a large debt consolidation loan may be considered where the available equity and affordability are strong enough.
Rates, capped pricing, and Bank Rate
The product described here uses a capped rate. That means the rate has an upper limit, while the lender can reduce it when the relevant base rate falls. The Bank of England Bank Rate is a useful context when comparing any variable, tracker, or capped lending product.
If rate comparison is the main concern, the page on debt consolidation loan interest rates explains why secured, unsecured, direct-lender, and broker-led options may be priced differently.
Some homeowners compare a secured loan with a debt consolidation remortgage, especially where their current mortgage rate, tie-in period, and loan size make remortgaging worth checking.
Direct lender or broker
The direct route is attractive when you want fewer people involved and a clean online application. It can work well where your documents are ready, your income is easy to verify, and the property valuation is straightforward.
Some borrowers still prefer broker help for secured loans, particularly when income is unusual, the property is unusual, or the application needs careful packaging before it reaches the lending team.
If a guarantor has been mentioned elsewhere, a secured loan for bad credit with no guarantor may feel more comfortable, because the property and affordability are the main focus.
Landlords may also have separate options. If the property used for borrowing is rented out, secured borrowing for landlords may be a more suitable option than a standard residential homeowner loan.
Questions before applying
Can I get a secured loan with bad credit?
Yes, many homeowners with previous credit problems can still apply. The lender looks at income, equity, and affordability, as well as the credit file itself.
Can the loan be used to repay existing debts?
Yes. Debt consolidation is one of the main reasons people use this type of secured borrowing. The page on debt consolidation loan benefits explains the appeal of one monthly repayment.
What questions should I ask before applying?
Check the rate, term, payment amount, valuation method, and whether the lender allows overpayments or payment holidays. The debt consolidation frequently asked questions page covers common points people consider before consolidating.
Can I apply without a broker?
Yes. This is a direct-lender route, so the application can be completed online. If your case is straightforward, that can keep the process simple and avoid unnecessary fees.
Could this improve monthly cash flow?
It can, especially where high-interest accounts are replaced by a single secured loan over a longer term. A direct-lender debt consolidation loan can also suit people who prefer not to involve another person in the application.
