What is a £55,000 secured loan?
Secured loan is a type of loan where a borrower makes an obligation by pledging an asset as collateral in case of default. You can usually borrow up to £75,000 and can be repaid up to 25 years.
What is a £55,000 unsecured loan?
The unsecured loan is a loan, which is not secured on anything. You can usually borrow up to £25,000 and can be repaid up to 10 years.
Where I can spend my £55,000 loan?
£55,000 loan could be used for many reasons. If you are planning home improvements, pay off store cards, high interest credit cards, unsecured loans, want to consolidate your existing debts into one lower monthly repayment, buy a new car, treat yourself to a well-earned holiday, you can with a £55,000 personal loan.
How long can I take to repay the loan?
It varies from lender to lender but typically it is from 7 to 10 years for unsecured loans and up to 25 years for secured loans. The longer term, the lower payments but you pay more interest.
How can I apply for a £55,000 loan?
If you like to apply for a low cost loan, fill the form on the top of the page. It is quick and easy to make an online application. Just take a few minutes to complete the form so we can get a clear view of you, your finances and your needs. Our experts will assess your situation and get back to you with no obligation £55,000 loan quote. It is up to you to take it or not.
Can I apply for different loan amount than £55,000?
You could apply for any loan amount up to £75,000. Please use our form above, click on the loan amount dropdown and change it from £55,000 to any amount you would prefer to borrow or check available options below, for example £54000 loan, £54600 loan, £54700 loan, £54800 loan, £54900 loan, £55000 loan, £55100 loan, £55200 loan, £55300 loan, £55400 loan , £56000 loan
- Our TYPICAL APR is 13.8% (variable). This means 66% of our customers get their secured loan at this rate or better.
- Unsecured loans are available from £1,000 to £25,000.
- Representative 12.6% APR variable.
- Representative Example: If you borrow £11,000 over 6 years at an annual rate of 8.9% (variable) you will repay £230.63 per month & total amount payable £16,605.36.
- A broker fee of up to 12.5% will be added to secured loans.
- Loans may be secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayment on a mortgage or any other debts secured on it.
- If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.