The HSBC loan interest rate starts out at 2% above the Bank of England's base rate, and then gets realigned with the base rate + 2% during a yearly review of the arrangement if the base rate has changed in the meantime. Therefore I would suggest that if you have alternative methods of financing it with, for example, a remortgage, then this would be cheaper in the long run. It is easy to make overpayments to the loan account by simply transferring any extra cash you earn into the account to reduce the interest which is paid in every 3 months.
It is unsecured.