£25,000 - £50,000 loans

Secured vs unsecured loans

Before deciding upon the terms and repayments on a £25,000 - £50,000 loan, you must first decide if you want an unsecured or secured loan.

A secured loan is backed by an asset such as a house, which acts as collateral if you fail to meet the repayments. If this happens, the lender can recover the asset to cover the money owed.

An unsecured loan, on the other hand, doesn’t involve any assets, meaning the lender can’t automatically take ownership of your items if you default on payments. However, a lender will pay closer attention to your credit score to judge if you are considered a trusted borrower.

There are positives and negatives to both unsecured and secured loans, depending on your unique circumstances. Speak to one of our team for more guidance on which loan best suits you.

Your loans for £25,000 - £50,000 repayment plan

Understanding your proposed repayments and making sure you can afford them is essential if you’re applying for a loan. You can get an idea of what your repayment plan looks like with our secured loan calculator. Simply set the amount you want to borrow and the loan duration to get a rough guide to what you’ll pay back, and at what rates.

For instance, if you take out a £40,000 loan for over five years, at an interest rate of 4.9% you can expect to pay an estimated £751.07 a month during this time. Or, a £50,000 loan over three years at the same rate would be £1,493.91.

Borrowing £25,000 - £50,000 with Norton Finance

At Norton Finance, we search an extensive market to find a loan to suit your financial and personal circumstances. So, whether you are dealing with a household emergency or want to spread the cost of an investment, we’ll help you find the best £25,000 - £50,000 personal loan to help your situation.

What do I need to apply for a personal loan?

When applying for a personal loan of £25,000 to £50,000, we’ll need to get some initial details from you, including:

• Name and address
• Employment status
• Income details

A member of our team will then be in touch to discuss your application further. It would be helpful to have any records regarding past and present loans or debts to hand. Supplying recent bank statements, payslips and mortgage statements can also help us get the full picture of your finances and aid the application process.

Frequently asked questions about loans from £25,000 to £50,000

Can I borrow £50,000 with bad credit?

Bad credit isn’t necessarily a barrier to borrowing, although it can affect your options for a £50k loan. Many lenders will offer a bad credit loan option, which is designed specifically for borrowers with a poor credit history.

What credit score do I need for a personal loan?

Although your credit score is taken as an indicator of your past financial history, it isn’t the be-all and end-all. Even if you have a less-than-ideal credit score, you may be able to borrow money with a bad credit loan. At Norton Finance we consider all circumstances and we look at every application individually.

How much can I borrow?

While this page is about our personal loans of up to £50,000, you can borrow any amount from £3,000 to £500,000 from Norton Finance.

How long are the repayment terms?

We offer loans for £25,000 to £50,000 with repayment terms between three and 30 years, to suit your schedule and affordability.

What are the interest rates?

The repayments on a £50,000 loan are based on your financial history and current circumstances. Our homeowner loans start at 6.7%.

How long will it take?

Although you may receive an instant decision in principle, you should allow one to two weeks for your application to be processed and for the money to arrive in your bank account.

Are there any loan fees?

We may charge a fee of up to 12.5% of the loan amount. This is a typical broker fee and is capped at £3,995. However, this fee does not apply to our unsecured loans.

Can I pay off a loan early?

It is absolutely possible for you to repay the full amount of your £25k to £50k loan off earlier. However, you may incur an Early Repayment Fee.

What happens if I miss a payment?

If you miss a repayment, we strongly advise you to get in touch with your lender. Then you can work out how to get back on track with repayments, whether through an extension of the terms or a full restructuring of the loan agreement.