In this first edition, the lowest headline secured loan rate on Moneyfacts' chart was 5.44% (United Trust Bank, up to 70% LTV, unencumbered property only, 8.0% representative APRC). The lowest five-year fix we verified for a standard second charge was 6.39% up to 65% LTV, rising to 6.99% up to 75% and 8.79% up to 85%. Two-year fixes started at 7.89%. Bank Rate was held at 3.75%. There is no prior edition, so no trend yet.
Lowest advertised secured loan rates, September 2026
| Combined LTV band | Lowest 2-year fixed | Lowest 5-year fixed | Lowest variable |
|---|---|---|---|
| Up to 65% | 7.89% | 6.39% | n/p |
| Up to 75% | 7.90% | 6.99% | n/p |
| Up to 85% | 9.01% | 8.79% | n/p |
| Up to 95% | 9.96% | n/p | 12.90% |
| Measure | September 2026 | Change on previous month |
|---|---|---|
| Representative APRC on the lowest headline rate (Moneyfacts secured loans chart) | 8.0% | First edition |
| Lowest headline rate on Moneyfacts' chart (unencumbered property, up to 70% LTV) | 5.44% | First edition |
| Typical broker fee (FCA review, March 2026: most brokers charged this share of the loan) | 10% to 12.5% of the loan | First edition |
| Typical lender/arrangement fee (published lender tariffs and representative examples) | £595 to £995 | First edition |
| Bank of England base rate | 3.75% | First edition |
Rates are the lowest advertised by lenders in published best-buy tables on the dates in the sources below. They are not offers, most applicants will pay more than the lowest rate, and the rate you are offered depends on your equity, credit history and the lender. The representative APRC includes typical fees.
What moved this month
Moneyfacts' secured loans chart on 15 September 2026 (marked 'last updated 11 hours ago') showed the lowest headline rate as 5.44% from United Trust Bank's Unencumbered Prime Plus plan, available at maximum LTVs of 60%, 65% and 70% on loans of £10,000 to £250,000, with a representative APRC of 8.0% fixed. That plan is for property with no existing mortgage, so it is not a typical second charge, and the chart did not state the length of the fixed period. The next lowest was Equifinance's Prime plan at 5.95% up to 50% LTV with an 8.5% APRC. The broker comparison table at securedloanrates.co.uk, updated 15 September 2026 and set to £30,000 over 10 years, listed Selina Finance's five-year fix at 6.39% (7% APRC, £995 fee) below 65% LTV; Pepper Money's five-year fix at 6.99% (7.9% APRC) and Masthaven's two-year fix at 7.9% in its 65% to 80% band; Masthaven's five-year fix at 8.96% and Central Trust's two-year fix at 9.01% in its 80% to 90% band; and, in its 90% and above band, Central Trust's two-year fix at 9.96% and Evolution Money's variable rate at 12.9%. The 'up to 95%' row in our table is taken from that 90% and above band, so it should be read as the lowest rate advertised above 90% LTV rather than a rate verified at exactly 95%.
Lender rate sheets tell the same story. West One's second charge product guide dated 5 August 2026 priced its Platinum tier at 7.89% for a two-year fix at 65% LTV, rising to 9.14% at 85%, and 7.59% for a five-year fix at 65% LTV, rising to 8.79% at 85%. West One's standard variable rate was 4.00% and its reversion rate for Platinum and Prime Plus borrowers was SVR plus 4.99% below 75% LTV and SVR plus 5.99% above, so 8.99% or 9.99% once the fix ends. Its product fee was £995 on gross loans up to £250,000 and £1,495 above that. United Trust Bank's announcement of 15 January 2026, reported by Mortgage Strategy, launched a Super Prime range from 5.39% for a five-year fix to 60% LTV, with a £595 fee on loans under £60,000 and no fee on loans up to £40,000. UTB's later announcement of 3 August 2026 said fixed rates were then available from 6.09% on Super Prime, 6.24% on Prime Plus, 6.64% on Prime, 7.29% on Near Prime and 7.49% on Specialist, with 90% LTV lending back for loans of £20,000 to £100,000. Evolution Money's website advertised variable rates from 8.6% to 27.87%, a product fee of 10% of the loan, a lending fee of £763 in England and Wales and a representative APRC of 21.82% variable.
Fees explain most of the gap between headline rates and APRCs. The FCA's second charge review published on 12 March 2026 found intermediary fees typically represented 2.5% to 15% of the loan amount, with the majority charging between 10% and 12.5%, on top of the lender's fees. Loans Warehouse's representative example on 15 September 2026 was £49,000 over 15 years at 9.62% variable with a £3,995 broker fee and a £995 lender fee, giving an overall APRC of 12.0% variable. The Bank of England's Bank Rate page showed Bank Rate held at 3.75% at the decision published on 30 July 2026, with the next decision due on 17 September 2026, two days after this edition was compiled.
How to read secured loan rates
The rates on this page are the lowest advertised rates we could verify on published rate sheets and best-buy tables on the date shown. They are not offers, and they are not the rate most people get. A lender's lowest rate usually applies only to its cleanest credit tier, its lowest loan-to-value band and sometimes only to larger loans. Most borrowers sit a tier or two above that, so treat the headline as the floor of the market rather than a quote. Only an FCA authorised broker can tell you what rate you would actually be offered, and checking your options with one will not affect your credit score.
Loan-to-value (LTV) on a secured loan, also called a homeowner loan or second charge mortgage, is worked out on the combined total: your existing mortgage balance plus the new loan, divided by the value of your home. A £150,000 mortgage plus a £30,000 secured loan on a £240,000 house is 75% combined LTV. The bands in the table are combined LTV bands. The lower the band, the lower the rate, because the lender has more equity to fall back on. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
Fixed rates hold for the fixed period (two, three or five years is typical) and then revert to the lender's variable rate, which is usually the lender's standard variable rate plus a margin. Variable rates can move at any time, often when the Bank of England changes Bank Rate. Where a lender publishes its reversion rate we record it in the commentary, because a low two-year fix followed by a high reversion rate can cost more over a 15-year term than a slightly higher five-year fix.
The APRC (annual percentage rate of charge) shows the total cost of the loan over its full term, including the lender's arrangement fee, any broker fee added to the loan and the reversion rate after the fixed period. It is always higher than the headline rate, and the gap is a useful signal: a large gap usually means high fees or a steep reversion rate. Broker fees on second charge loans are commonly a percentage of the loan and are usually added to the balance, so you pay interest on them. If you are struggling with debt, free and impartial advice is available from MoneyHelper, StepChange and Citizens Advice before you consider borrowing more against your home.
Every edition
| Edition | Lowest 2-year fixed (65% LTV) | Lowest 5-year fixed (65% LTV) | Representative APRC |
|---|---|---|---|
| September 2026 | 7.89% | 6.39% | 8.0% |
Sources
- Moneyfacts, secured loans chart, accessed 15 September 2026
- Secured Loan Rates, compare secured loan rates UK 2026, accessed 15 September 2026
- West One, Second Charge Mortgage Range product guide, 5 August 2026 (PDF), accessed 15 September 2026
- Mortgage Strategy, United Trust Bank unveils two second charge ranges, 15 January 2026, accessed 15 September 2026
- United Trust Bank, new Super Prime and Specialist ranges with rates from 5.39%, accessed 15 September 2026
- United Trust Bank, return of 90% LTV lending and rate reductions, 3 August 2026, accessed 15 September 2026
- Evolution Money, homepage rates and representative example, accessed 15 September 2026
- Loans Warehouse, secured loan comparison and representative example, accessed 15 September 2026
- FCA, Second charge mortgages: improving outcomes for consumers, 12 March 2026, accessed 15 September 2026
- Bank of England, Bank Rate, accessed 15 September 2026
Next edition: October 2026. This page is refreshed monthly; the illustrative rate used in Equiclear's calculators and worked examples is fixed and separate from this index, so that examples stay comparable from page to page.
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