Pricing
Fixed Rate
A fixed-rate secured loan locks the interest rate for an initial period — typically 2, 3, or 5 years — providing payment certainty during that time.
Most UK secured loans are sold on a fixed-rate basis. The fixed period gives you predictable monthly payments regardless of changes to the Bank of England base rate. After the fixed period ends, the rate reverts to a variable revert rate.
Five-year fixed rates are currently the most popular product in the UK secured loan market. They balance payment certainty with rate competitiveness — typically priced 0.2–0.5% above 2-year fixes but providing twice the payment stability.
If you're likely to repay the loan early, check the early repayment charges that apply during the fixed period. ERCs are how lenders recover the cost of locking the rate; they typically don't apply once the fixed period ends.