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£55000 loan

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.

Financial details:

  • 9.8% APRC Representative. This means 51% or more of customers receive this rate or better.
  • Representative Example: Assumed borrowing of £26,000 over 84 months, with a borrowing rate of 5.86% per annum for the 84 months. There would be 84 monthly instalments of £415.52. Total amount payable £34,998.68 comprised of; loan amount (£26,000); interest (£6,328.68); Broker fee (£2,080.00); Lender fee (£590). This would result in an overall cost of 9.2% APRC.
  • Rates from as low as 4.5% APRC variable. Our highest rate is 47.9% APRC. Repayment periods available from 3-35 years.

Consolidation Warning:

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.