Fluent Money secured loans review

Using a credit broker to help you find a loan has many benefits. Perhaps the biggest is that they can do a lot of the hard work for you by searching the market and looking for the deal that best matches your requirements. For this reason, using a credit broker can be particularly beneficial if you have a poor credit score, as your broker will know which lenders are more likely to accept your application.

However, before using a credit broker, it’s crucial to understand exactly what fees you’ll pay for using the service. Some brokers are paid a commission by lenders, but others charge a fee. You should also check that your chosen broker is authorised. Legitimate credit brokers are authorised and regulated by the Financial Conduct Authority (FCA) and listed on the Financial Services Register. All their communications with you should make it clear they are a credit broker, not a direct lender.

This review looks at broker Fluent Money.

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Product UKFPL	Finder Score	Customer rating	Loan amounts	Loan terms	Loan rate type
Fluent Money Secured Loan	Finder score 7.4Great	Not yet rated	£10,000 to £1,000,000	3 years to 30 years	Fixed rates available	Fluent Money is a broker, not a direct lender, the Representative APR is subject to the specific lender.	View details Compare	loading Fetching your data...

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Finder Score for unsecured loans

To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.

Who is Fluent Money?

Fluent Money is a credit broker mostly known for secured loans. Fluent Money Group was founded in 2008, with Fluent Loans being launched in 2015. The group has been backed by Beech Tree Private Equity since February 2016.

In July 2017, Fluent acquired a mortgage brokerage, Brytannic Extra Finance, which was later renamed Fluent Mortgages. A year later, Fluent Lifetime launched a handful of lifetime mortgage lending products.

Most recently, Fluent Money Group was acquired by mortgage broker Mortgage Advice Bureau.

What types of loans does Fluent Money offer?

Fluent Money only offers secured loans – it does not offer unsecured loans. Secured loans enable you to borrow a lump sum that must be repaid in monthly instalments over a fixed term, with interest added on top.

A secured loan must be backed by something you own (an asset), usually your home, but it could also be your car. Because of this security, you can usually borrow a larger sum compared to an unsecured loan – with Fluent, you can borrow from £10,000 to £1,000,000. You can borrow over a longer time frame of 3 years to 30 years, too, but you’ll pay more in interest overall. You can also apply if you have a history of county court judgements (CCJs), arrears or defaults.

However, bear in mind that because you must secure your loan against an asset, that asset will be at risk if you cannot keep up with your loan repayments. This means your lender has the legal right to take possession of it if you default on your loan. If you’ve used your home as security, you risk losing the roof over your head.

Fluent Money customer reviews

Fluent Money scores highly on Trustpilot, with a rating of 4.8 out of 5 based on more than 4,900 reviews (updated July 2023). This is considered an “excellent” rating overall.

A total of 93% of customers gave Fluent Money an “excellent” rating, with positive comments focusing on the helpful and knowledgeable customer service team, as well as the easy, quick and smooth process.

However, a few customers commented on poor and slow customer service.

Fluent Money customer support

You can contact Loans Warehouse customer services through their website’s email contact form.

Other UK secured loan brokers

If you’re not sure whether you want to choose Fluent Money, other UK secured loan brokers to consider are:

• Loans Warehouse. Offering help with secured loans, personal loans, guarantor loans, short-term loans, bridging loans and business loans. Read our Loans Warehouse review here.
• Loan.co.uk. Offering help with secured loans, personal loans and bridging loans.
• Lending Expert. Offering help with secured loans, personal loans, business loans, guarantor loans, short-term loans, bridging loans and car finance.

Our verdict

If you’re looking to borrow money through a loan but aren’t sure where to start, Fluent Money can be an easy way to help find the right loan for you. If your credit score is low or you’ve had trouble getting access to credit in the past, using a credit broker such as Fluent Money is definitely worth considering, as it can help you find a lender that will accept your application.

However, the downside is that Fluent Money only offers secured loans rather than unsecured options. And while secured loans enable you to borrow a larger sum for a longer period, you’ll also be putting your home (or other asset) at risk, so it’s not a decision to be made lightly. If you plan to go down this route, make sure you understand exactly what fees you’ll need to pay and have a plan in place to repay your loan in full and on time.

Frequently asked questions

• Who owns Fluent Money?

  In March 2022, it was announced that Mortgage Advice Bureau would be acquiring 75% of Fluent Money Group for a cash payment of £73 million.

• Is Fluent Money safe?

  Yes, Fluent Money is authorised and regulated by the Financial Conduct Authority (FCA), which means it must follow certain rules and requirements.

• How does a broker differ from a lender?

  A lender provides you with the money you need to borrow directly. A broker, on the other hand, doesn’t lend money but acts as an intermediary to connect borrowers with various potential lenders.

• How do second charge mortgages work?

  A second charge mortgage is simply a secured loan taken out on your home, using the equity you’ve built up as security. They are known as second charge because the original mortgage must take priority over your second mortgage if your property is sold to repay debts.

• Can I get a secured loan with bad credit?

  As you put up your house or another asset as collateral for a secured loan, lenders are more open to lending to you if you have poor credit history. Note that your interest rates might be higher than someone with a better credit score.

Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio