£50,000 loans
Compare secured homeowner loans without affecting your credit score.
With our partner, ClearScore, you can find out what loans you could be eligible for. ClearScore are a credit broker, not a lender. Together we give you access to a panel of loan providers.
Reason to choose a secured loan from Co-op
Compare your options
Multiple loan offers tailored to you, subject to lender's affordability assessment.
Borrow up to £500,000+
Loan amounts from £10,000 up to £500,000+.
Choose your repayment terms
Loan terms from 3 to 30 years, subject to lender's affordability assessment.
UK call centres
Speak to a qualified adviser based in a UK call centre.
Free no obligation quote
Tailored advice on your best options
No impact on your existing mortgage
A secured loan is separate, it will not change your mortgage rate or provider.
Loans application process
Here’s how getting a loan works with our partner ClearScore.
Step 1Eligibility check
Fill in the online form and ClearScore will run an eligibility and soft credit check. This will not affect your credit score.
Step 2Loan options
If you are eligible for a loan through Co-op, you will see a list of loans showing how much you could borrow and the costs.
Step 3Pay out
If you get approved for a loan, the money will be sent directly to your account. For secured loans this might take several weeks.
What is a £50,000 loan?
If you need to borrow £50,000, a secured homeowner loan could help. It lets you borrow against your home and repay the loan in monthly instalments over an agreed term. You could use it for home improvements, debt consolidation or other major expenses. Your home may be at risk if you do not keep up with repayments.
Loan terminology
You can watch our video or keep reading to learn more about the terminology used when talking about loans.
What is the difference between a secured loan and an unsecured loan?
A secured loan is money borrowed or ‘secured’ against an asset, such as your home. An unsecured loan is not tied to an asset. For more details, see our guide on secured and unsecured loans.
What are the risks of a secured loan?
There are risks involved in getting a secured loan. Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it. So, even though it’s called a secured loan, the lender has the security, not you.
You might also face early repayment charges, which could make it more expensive overall.
Missing payments can also harm your credit score, which might make it harder to get credit in the future.
Understanding the costs of loans
Representative example for secured loans
Secured loans from Co-op have a representative APRC of 10.92% (variable). For example, borrowing £25,000 over 10 years with a broker fee of £2,875 and a lender fee of £595 means you’ll pay £336.02 each month. The charge for credit would be £15,321.85. In total, you would repay £40,321.85.
Debt advice
Consolidating your debts could help you take control of your money. Depending on the interest rate and how long you take to repay, you could end up paying more in total. Think about the overall cost when making your decision.
If you're getting a secured homeowner loan to pay off unsecured debts, think carefully. It might not be the best choice. Missing payments could mean losing your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it.
There are many debt management support services and advice lines who can help you for free. Gov.uk has a list of services where you can get help in person, over the phone or online.
They can help you with your finances and spending habits by giving you independent advice on dealing with debt problems and debt management.
Existing customers
If you are one of our existing customers we are here to help.
For unsecured loans Co-op Insurance Services Limited acts as a Credit Broker not a Lender. If you take out an unsecured loan or are introduced to a third-party provider, we will receive a fixed percentage commission from ClearScore.
For secured loans Co-op Insurance Services Limited acts as an introducer to ClearScore. We are not the mortgage intermediary or lender. Co-op Insurance receives commission from ClearScore if you take out a secured loan. The amount of commission is a percentage of the overall amount you borrow.
This will not impact the amount you pay back. Lenders terms and conditions apply. UK residents 18 and over.