There are several ways to borrow money, and the right one depends on how much you need, what it is for, whether you own a property, and how comfortable you are using that property as security. A secured loan, an unsecured personal loan, a remortgage, a HELOC, a bridging loan, and a specialist bad credit loan each serve different situations, and the differences between them are not always obvious. This tool asks a few questions and suggests which types are most likely to suit your answers, with links to the relevant guides and calculators.
The tool does not assess your eligibility, check your credit file, or recommend a specific lender. It routes you to information based on your situation so you can read about the relevant options before deciding whether to apply. Each suggestion includes a short explanation of why that type may suit you and links to the detailed guide, the relevant calculator, and (where available) an eligibility checker. The suggestions are based on general suitability, not a personalised recommendation.
At a Glance
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The amount you need and whether you own a property are the two factors that narrow the options most quickly.
Unsecured personal loans are widely available for amounts up to approximately £25,000, but rates become less competitive at higher amounts. For borrowing above £25,000, a secured loan or remortgage typically offers lower rates because the property provides security for the lender. If you do not own a property, secured lending and remortgaging are not available, so unsecured options or specialist bad credit lenders are the relevant routes regardless of the amount.
› How borrowing amount and property ownership shape the options
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Credit history affects which lenders will consider an application, but it does not eliminate the ability to borrow entirely.
Mainstream lenders offer the lowest rates to applicants with good credit histories. For applicants with adverse credit, specialist lenders provide both secured and unsecured options at higher rates. A secured loan with adverse credit may still offer a lower rate than an unsecured specialist loan because the property reduces the lender’s risk. The tool adjusts its suggestions based on your credit self-assessment to prioritise the routes most likely to result in an offer.
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The tool routes you to information, not to a product. Each suggestion links to a guide, a calculator, and an eligibility checker so you can explore before deciding.
The primary suggestion is the borrowing type that scores highest against your answers. The alternatives are types that also suit but may involve a trade-off: a lower rate but longer arrangement time, or wider availability but a higher cost. The “less likely to suit” section explains why certain types are not well matched to your situation, which is as useful as knowing what does suit because it prevents time spent exploring the wrong option.
Interactive tool
Borrowing type finder
Answer a few questions about what you need and we will suggest the borrowing types most likely to suit your situation, with links to the relevant guides and calculators.
Your data stays private — nothing you enter is stored, transmitted, or accessible to anyone. All calculations run entirely in your browser.
What do you need the money for?
This helps narrow down which types of borrowing are designed for your situation.
How much do you need to borrow?
The amount affects which products are available and which offer the best value.
Do you own a property?
Property ownership opens up secured lending options, which typically offer lower rates and higher amounts.
Roughly how much equity do you have in the property?
Equity is the difference between what the property is worth and what you owe on the mortgage. If mortgage-free, it is the full property value.
How would you describe your credit history?
This affects which lenders are likely to consider your application and the rates available.
How quickly do you need the funds?
Some products are faster to arrange than others. Secured lending and remortgages typically take longer.
Would you be willing to use your property as security for the loan?
Secured loans use your property as collateral, which typically means lower rates and higher borrowing limits, but your home is at risk if you do not keep up repayments.
What is your employment status?
This affects which lenders are likely to consider your application and what documentation you may need.
Based on your answers, here are the borrowing types most likely to suit your situation. These are not recommendations. Each option has different costs, risks, and eligibility criteria. The links below provide more detail on how each type works.
Most likely to suit your situation
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About this tool
What it does
Suggests borrowing types based on your purpose, amount, property status, credit, and timeline
Answer 6 to 8 questions (homeowners see additional questions about equity and security willingness). The tool scores each borrowing type against your answers and presents a primary suggestion, one or two alternatives, and a panel explaining why other types are less likely to suit. Each suggestion links to the relevant guide, calculator, and eligibility checker. The tool does not assess eligibility or recommend specific products.
Borrowing types covered
Secured loans, unsecured personal loans, remortgages, HELOCs, bad credit loans, bridging finance, and purpose-specific options
The tool covers the main borrowing routes available in the UK: secured loans (second charge mortgages), unsecured personal loans, remortgages and further advances, home equity lines of credit (HELOCs), specialist bad credit lending, bridging finance for property transactions, and purpose-specific products for debt consolidation and home improvements. Each type has different eligibility criteria, typical rates, arrangement timelines, and risk profiles.
How to use the borrowing type finder
The questions take under a minute to answer. Each question has clickable cards: select the option that best matches your situation and the tool advances to the next question. You can go back and change an answer at any point. At the end, the results panel presents the suggestions with explanations and links. If none of the suggestions feel right, restarting with different answers (for example, changing the amount or the security preference) shows how the recommendations shift.
Select your borrowing purpose and the amount needed
The purpose affects which product types are designed for your use case. Debt consolidation, home improvements, car purchases, and property bridging each have specific products built around them. The amount determines which products are available: unsecured lending is widely available up to approximately £25,000, while secured lending and remortgaging are more competitive for higher amounts. Bridging finance is typically available from £25,000 upward for property transactions.
Answer the property ownership and equity questions
If you own a property (with or without a mortgage), secured lending options become available. The equity question helps determine whether the property has sufficient value above the existing mortgage to support additional borrowing. If you rent or do not own property, the tool skips the equity and security questions and focuses on unsecured options. The LTV and equity calculator can help estimate your equity position if you are unsure.
Indicate your employment status, credit history, and timeline
The employment question helps the tool account for how lenders assess different income types: self-employed borrowers, retirees, and those with non-standard income face different criteria depending on the product. The credit question uses a self-assessment rather than a credit check — if you are unsure, selecting “not sure” produces a neutral result. The timeline question matters because some products are faster to arrange than others: unsecured personal loans can complete in days, secured loans typically take 2 to 6 weeks, and remortgages typically take 4 to 8 weeks. Bridging finance is designed for speed and can sometimes complete within days. The credit profile classifier can help assess your credit position before answering.
Review the results and follow the links
The primary suggestion is the borrowing type that scores highest against your answers. The alternatives are worth exploring if the primary type has a trade-off you are not comfortable with (for example, if you are uncomfortable using your property as security, the alternative may be an unsecured option at a higher rate). The “less likely to suit” panel explains why certain types are not well matched. Each result links to the relevant guide, calculator, and eligibility checker so you can explore the detail before deciding whether to proceed.
How borrowing amount and property ownership shape the options
The borrowing amount and property ownership together determine the core set of options. For amounts under £5,000, an unsecured personal loan is almost always the most practical route regardless of property status, because the arrangement costs of a secured loan (valuation fee, solicitor fee) would be disproportionate to the amount borrowed. Between £5,000 and £15,000, both secured and unsecured options are viable for homeowners, with unsecured typically being faster and simpler but secured potentially offering a lower rate. Above £25,000, secured lending becomes the dominant option. Some unsecured lenders do offer amounts up to £35,000 or occasionally £50,000 to applicants with strong credit and income profiles, but the rates are typically less competitive than secured alternatives and availability is more limited.
For renters, the options are limited to unsecured personal loans and specialist bad credit lending regardless of the amount. This is not because renters cannot borrow larger amounts, but because the competitive rates available to homeowners through secured lending are not accessible without property to offer as collateral. The secured vs unsecured threshold tool models the crossover point where a secured loan starts to offer a lower total cost than an unsecured alternative, which is useful for homeowners deciding between the two for amounts in the middle range.
How credit history affects the suggestions
The tool adjusts its suggestions based on the credit self-assessment, but it does not disqualify any option entirely based on credit alone. Applicants with good credit have access to the widest range of products and the lowest rates across all borrowing types. Applicants with fair credit may find that some mainstream lenders decline their application, but many secured lenders and some unsecured lenders specialise in this middle ground. Applicants with poor credit (defaults, CCJs, IVAs) are directed toward specialist bad credit lenders who assess applications with adverse history as part of their standard process.
For homeowners with poor credit, a secured loan for bad credit may offer a lower rate than an unsecured specialist product because the property reduces the lender’s risk. This is one of the main advantages of secured lending for applicants with impaired credit: the security compensates for the credit history and allows the lender to offer a rate that would not be available unsecured. The credit profile classifier can give a more detailed assessment of where your credit history sits relative to typical lender criteria.
For homeowners with good or fair credit and meaningful equity, a home equity line of credit (HELOC) may appear as an alternative to a secured loan. Where a secured loan provides a lump sum at a fixed rate, a HELOC provides a flexible credit facility that can be drawn down and repaid repeatedly. The tool suggests a HELOC when the combination of equity position, credit profile, and borrowing purpose suits the flexible access pattern, particularly for phased spending such as home improvements over time. HELOCs are a less established product in the UK than secured loans or remortgages, with fewer providers offering them, so availability is more limited than for standard second-charge lending. The HELOC suitability checker provides a more detailed assessment of whether a HELOC suits your specific circumstances.
How the tool decides what to suggest
The tool uses a scoring system that assigns points to each borrowing type based on your answers. Each question contributes positive or negative points depending on how well the borrowing type matches the answer. For example, selecting “over £50,000” adds points to secured loans and remortgages (which are competitive at high amounts) and subtracts points from unsecured loans (which are rarely available at that level). Selecting “renter” subtracts points from all secured options because they require property ownership.
At the end, the eight borrowing types are ranked by their total score. The highest-scoring type is the primary suggestion. Types with positive scores but lower rankings become alternatives. Types with zero or negative scores appear in the “less likely to suit” section with an explanation. The scoring reflects general suitability, not eligibility: a high score means the borrowing type is well-matched to your stated situation, not that you will be approved. Eligibility depends on the specific lender’s criteria, including a full credit check, affordability assessment, and (for secured lending) property valuation, none of which the tool performs.
The questions do not all carry equal weight. Property ownership and credit profile have the largest influence on the ranking because they determine which products are structurally available. Amount and equity position carry moderate weight because they affect which products offer competitive terms. Timeline, employment status, and security preference act as secondary adjustments that shift the ranking within the set of structurally available options. The scoring weights are fixed and do not change based on previous answers.
Related tools
Eligibility
Secured loan eligibility checker
A more detailed assessment of whether a secured loan is likely to be suitable, covering property type, equity position, income, and existing commitments. Use the tool
Comparison
Secured vs unsecured threshold tool
Find the borrowing amount at which a secured loan starts to offer a lower total cost than an unsecured personal loan, based on typical rate differences. Use the tool
Not sure what to look at next?
All of our calculators and planning tools in one placeFrequently asked questions
Is this tool a credit check?
No. The tool does not access your credit file, perform a credit check, or assess your eligibility for any specific product. It asks self-assessment questions and uses your answers to suggest which borrowing types are generally well-suited to your situation. The suggestions are informational: they route you to guides and calculators where you can learn more about each option. No data from this tool is shared with lenders, and completing it has no effect on your credit file.
Why does the tool suggest a secured loan when I said I prefer not to use my property as security?
If the borrowing amount is high or your credit profile is adverse, a secured loan may still appear as an alternative even when you indicate a preference against using property as security. This is because the tool shows all viable options with an honest assessment of the trade-offs, rather than filtering out options you might prefer to avoid. In some cases, a secured loan is the only route to the amount needed at a manageable rate, and knowing that it exists as an option is more useful than not seeing it at all.
The security preference does affect the ranking: indicating “prefer not to” reduces the secured loan’s score and increases the unsecured score, so the primary suggestion will reflect your preference where possible. If the unsecured route is viable for your amount and credit profile, it will rank higher. The secured option appears as an alternative so you can compare the trade-offs: typically a lower rate but with your property at risk. The are secured loans a good idea guide covers this decision in full detail.
What is the difference between a secured loan and a remortgage?
A secured loan (also called a second charge mortgage) is a separate loan secured against your property alongside your existing mortgage. It has its own rate, term, and monthly payment. A remortgage replaces your existing mortgage with a new, larger one, and the difference is released as cash. Both use your property as security. The main differences are the rate (remortgage rates are typically lower because the lender has first charge on the property), the arrangement process (remortgages involve a full mortgage application and may take longer), and the impact on your existing mortgage deal (remortgaging may trigger early repayment charges if you are still within a fixed-rate period).
The secured loan vs remortgage guide covers the comparison in detail, and the second charge vs further advance comparator models the cost difference between the two approaches at specific rates and amounts. In general, a remortgage suits situations where the existing mortgage rate is no longer competitive and the borrower wants to consolidate into a single product. A secured loan suits situations where the existing mortgage deal is worth keeping (for example, a low fixed rate with time remaining) and the additional borrowing is better arranged separately.
Can I use this tool if I have been through an IVA or bankruptcy?
Yes. Selecting “poor” for the credit question directs the tool toward specialist bad credit lending options, which include lenders who consider applications from borrowers with completed or active IVAs, discharged bankruptcies, and other adverse credit markers. The rates offered by these lenders are higher than mainstream products because they reflect the additional risk, but borrowing is not ruled out entirely by an adverse credit history.
For homeowners who have been through an IVA, the secured loans for IVA customers guide covers the specific considerations, including how long after discharge lenders typically require and what documentation may be needed. The credit rebuild timeline tool can model how long it takes for adverse markers to reduce their impact on your credit file.
Why does the tool not show specific rates or monthly payments?
The tool is a routing tool, not a calculator. Its purpose is to identify which borrowing types are most likely to suit your situation and link you to the relevant information. Specific rates and monthly payments depend on the lender, the exact amount, the loan-to-value ratio, the term, and your individual credit assessment, none of which the tool assesses. Showing illustrative rates without these inputs would be misleading because the rate you are offered could be significantly different.
Once you have identified the relevant borrowing type, the linked calculators provide detailed cost modelling. The secured loan calculator, debt consolidation calculator, and home improvement loan calculator each model monthly payments, total interest, and total cost at the rate and term you enter.
Squaring Up
The borrowing type finder answers the question that comes before “what rate can I get?”: the question of which type of borrowing is the right starting point. Secured loans, unsecured personal loans, remortgages, HELOCs, and specialist bad credit products each serve different situations, and starting with the wrong type wastes time and may result in unnecessary rejections that affect your credit file. This tool narrows the field before you apply.
The primary suggestion is the borrowing type that best matches your answers, but the alternatives and the “less likely to suit” panel are equally valuable. Knowing why a specific type does not suit your situation is as useful as knowing which one does, because it prevents you from applying for something that is unlikely to result in an offer. Follow the links from the results panel to the relevant guide and calculator to explore the detail before deciding whether to proceed.
Explore all loan guides and tools
Everything in one place, across secured loans, debt consolidation, and home improvementsUpdate log: July 2026
What changed in this update
The tool now includes home equity lines of credit (HELOCs) as a borrowing type, suggested for homeowners with meaningful equity who may benefit from flexible drawdown rather than a lump-sum loan. A new employment status question has been added to improve how the tool accounts for self-employed borrowers, retirees, and those with non-standard income. Result explanations are now tailored to the answers provided, referencing the specific amount, credit profile, equity position, and employment status rather than using generic descriptions.
The tool’s scoring logic has been refined across all borrowing types. Remortgage suggestions are now accurately calibrated for borrowers who own their property outright, specialist bad credit options are excluded for borrowers with good credit, and the security-willingness preference has a stronger influence on the primary recommendation. Result links for unsecured personal loans now route to the personal loans section, and the eligibility checker links have been updated. Timeline descriptions for secured loans and remortgages have been separated to reflect their different arrangement periods.
Several link corrections have been applied across the article and tool, and the result card link styling has been updated for improved readability.
This tool is for informational purposes only and does not constitute financial advice or a product recommendation. The suggestions are based on general suitability scoring against the answers you provide and do not represent an eligibility assessment, credit check, or personalised recommendation. No personal data is collected, stored, or shared with lenders through this tool. Actual eligibility for any borrowing product depends on the specific lender’s criteria, including a full credit check, affordability assessment, and (for secured lending) property valuation, none of which this tool performs. Your home may be at risk if you do not keep up repayments on a mortgage or any other debt secured on it. If you are struggling with debt or unsure whether borrowing is the right step, free advice is available from MoneyHelper, StepChange, and National Debtline. For personalised guidance on borrowing options, consult a regulated broker or financial adviser. Actual outcomes will depend on your individual circumstances.
