Central Trust Secured Loan: Quick Funds, High Costs

The Quick Version

Central Trust offers secured loans from £10,000 to £250,000 with APRs between 9.69% and 13.1%. You'll need to be a UK homeowner willing to use your property as collateral. Approval can be as quick as 3 days, but expect to pay high fees.

Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.

The Numbers

Central Trust's secured loans range from £10,000 to £250,000, with terms between 3 and 30 years. APRs start at 9.69%, reaching up to 13.1% depending on creditworthiness. The representative loan example includes a £1,999 arrangement fee and a £499 processing fee. source

What's Actually Good

✅ Fast approval times: Loans can be approved in as little as 3 days.
✅ Flexible income consideration: Employed, self-employed, pension, and benefit incomes are all considered.
✅ High loan amounts available: Borrow up to £250,000 if you need significant funding.

The Catch

❌ High fees: Arrangement and processing fees add up, impacting the overall cost.
❌ Risk of losing your home: As a secured loan, failure to repay could result in losing your property.
❌ Variable rates: After the fixed period, rates can increase, affecting affordability.

Who Benefits Most

This loan is best suited for UK homeowners with fair to good credit, who need a large sum quickly and have the ability to secure the loan against their property. It's ideal for those comfortable with the risk of variable rates after the fixed period.

The Bottom Line

If speed and high loan amounts are your priority, Central Trust's secured loan offers a quick solution. However, be prepared for significant fees and the risk associated with using your home as collateral.