£60,000 – £100,000 loans

Secured loans between £60,000 and £100,000

Even when choosing to accept loans within this bracket, you can expect lenders are willing to work with you to find the most suitable loan product. Due to the larger amounts in question, applicants will need to own enough equity in their home that they can borrow against.

Will I need a good credit score for a £100,000 loan?

Your credit score is just one of the factors which lenders look at to see how you manage credit. However, it isn’t the only thing they consider for your application. Demonstrating that you have a good record of repaying loans on time is just as important as having a good credit score. For loans up to £100,000 the amount of equity you own is arguably a more important factor than your credit score.

What will a lender look for when I apply?

• Equity in your home
  Equity is the amount of property you own. If you have a mortgage, your equity is the current market value minus what you still owe to your mortgage provider.

• Credit history
  Your credit history shows when you’ve borrowed money and paid it back – as well as when you haven’t. Your credit score isn’t the only thing lenders consider.

• Your budget
  You should look at your income and outgoings to determine your budget, and therefore how much you can put aside for regular repayments.

• What you want the money for
  You should have a specific reason for borrowing the money. Lenders may not accept a loan application for certain things.

• Loan eligibility
  You won’t know for sure if you are eligible for a loan until you apply, but you can get a good idea about how likely you are to be accepted by reading our tips on eligibility.

Before you apply for a loan of £60,000 - £100,000

• Consider what you can afford to repay
  Once all of your bills are accounted for, how much do you have left? This can help you work out what you can repay.

• Only borrow what you need
  It’s easy to borrow more than you need, but by only borrowing what’s needed you will have less to pay back, and less interest to pay.

• Think about the real costs
  Whether you borrow small or larger amounts, loans have rates and fees which will mean you ultimately pay back more than what you borrow.

• Improve your credit rating
  Improve your credit rating by being on the electoral roll, never missing or being late paying a bill. Making multiple credit applications at once can also reflect poorly in your credit history.

• Shop around for the best rates
  You will want to shop around to get the best rate – lenders may offer you different rates when they take your general circumstances into consideration.

Representative example

SECURED LOANS - Rates start at 2.99% variable. We also have a range of plans with rates up to 65.2%, giving us the flexibility to help you find a loan that suits your needs.

Representative example: if you borrow £10,000 over 10 years at an Annual Interest Rate of 5.14% (variable), you will make 120 payments of £122.71 per month.

The total amount repayable will be £14,725.20. This includes a lender fee of £495 and a broker fee of £1,000, both of which have been added to the loan. The overall cost for comparison is 8.6% APRC representative.

The maximum APR is 65.2%.

Your £60,000 - £100,000 loan repayment plan

Before committing to a loan, it’s essential that you understand the proposed fees, rates and repayments and ensure you can afford to borrow. Our loan calculator is a really useful tool for working out how much you’ll be expected to pay back on your loan before you accept an offer of a loan.

Using our repayment calculator

When it comes to creating a repayment plan you can use our repayment calculator:

1. Insert the amount you want to borrow
2. Enter the length of your repayment
3. Specify whether or not you own your own home.

Use the slider on the loan calculator to find the best fit for your repayment schedule.

What do I need to apply for a loan of £60,000-£100,000?

To fill in a standard loan application form, you will need to provide some basic information about yourself and your circumstances. These should include your:

• Name and address
• Employment status
• Details of your income.

If you plan to use your loan to consolidate other debt repayments, please have details on those arrangements to hand. This will make the process much easier as it gives lenders all the information they need to arrange payment.

Frequently asked questions about £60,000-£100,000 loans

We know that applying for larger loans can be confusing, but we’re on hand to answer some questions. Learn more about how you can borrow loans of £60,000 or more with our frequently asked questions below.

Are bridging loans a good idea?

A loan of between £60,000 and £100,000 could be used to ensure property repayments are covered in part if you’ve bought a new home but haven’t yet managed to sell your old one. This type of bridging loan is quite common – it involves borrowing a large amount of money in a short timeframe.

However, as a bridging loan is a short-term product you may find interest rates are higher than other types of loan, due to the amounts involved, and it isn’t recommended you take out the loan unless you are confident of paying back the loan in full, sooner rather than later.

Can I take out a self-employed loan for £100,000?

It is possible to take out a £100,000 loan if you are self-employed, but you will require more documentation. As we explain in our article about the process of getting a self-employed loan, most lenders will be looking for a minimum of six months’ history of personal and business bank statements at the start of your application.

Would remortgaging be worth looking into?

Many homeowners consider remortgaging as an alternative, but this does mean you will be changing the terms of your mortgage and affect the equity you have in your home. Our remortgaging guide can help answer some of the questions you may have around remortgaging.

Norton Finance loan details

• How much can I borrow?
  This page focuses on loans of £60,000 to £100,000. However, you can borrow between £3,000 and £500,000 from one of Norton Finance’s trusted lenders.
• How long are the repayment terms?
  The total repayments for loans we arrange can last anywhere from three to 30 years, offering you more flexibility and a repayment timeline that suits you.
• What are the interest rates?
  Our homeowner rates start at 2.99%. We take your financial history and present circumstances into account, so the interest rates we offer can vary.
• How long will it take?
  You may receive a decision in principle based on your application immediately. However, please allow up to two weeks for your application to be finalised and the funds to be deposited.
• Are there any loan fees?
  As a broker and not a bank, we receive a commission from the lender upon completion of a loan application. You can expect to be charged a broker fee of up to 12.5% of the loan amount borrowed, capped at £3,995. We do not charge broker fees for unsecured loans.
• Can I pay off a loan early?
  You can repay a loan early, but you may be charged a fee for Early Repayment if you choose to do so.
• What happens if I miss a payment?
  If you miss a loan repayment, we urge you to get in touch with your lender to let them know as soon as possible. They can help you with questions you might have about extending the payment deadline or restructuring repayments

If you have any other questions, get in touch with a member of our team and we’ll do what we can to help.