What are your loan options?

When done sensibly, taking out a loan can help you to meet a wide range of financial goals. From spreading the cost of a holiday over several months to consolidating debt, borrowing can work for you if you have room for repayments in your budget.

When it comes to choosing a loan, there’s plenty of choice. Secured loans can help you borrow more or lock-in lower interest rates, while unsecured personal loans may be easier to arrange but often come with higher rates. And there are all sorts of specialist options, like bad credit loans and payday loans.

Of course, loans aren’t just for personal use. Business loans are designed to help companies grow, manage cashflow, or invest in new projects. But whether for personal or business use, choosing the right type of loan can make all the difference when you’re planning to borrow.

Why are you looking for a loan?

Finding the right loan helps you hit your financial goals, whether that’s meeting an important cost or sorting finance with repayments that work for your budget.

Personal loans

Borrow a lump sum to cover big plans, from weddings to home improvements.

Secured loans

Use your property as security to unlock better rates and higher loan amounts.

Bridging loans

Short-term finance to ‘bridge the gap’ when you need fast access to funds.

Business loans

Support your business goals, boost cashflow, or invest in growth with tailored funding.

Debt consolidation loans

Roll multiple debts into one loan with one simple monthly payment.

Guarantor loans

Boost your chances of approval with someone backing your application.

Specialist loans

How much can you borrow with a loan?

If you’re looking for a personal loan, typical amounts range from £1,000 to £25,000, though some lenders may offer you more than this - potentially up to £50,000. If you’re looking for a secured loan, you could borrow even more, typically up to £100,000, though some lenders may go even higher than this if you have a high value home.

How much you can borrow also depends on your income, credit history, and how affordable the repayments will be for you. Lenders aim to ensure the loan fits comfortably within your monthly budget.

They’ll look at a few key things when deciding what to offer:

  • Your income: Primarily whether it's regular, stable and sufficient to cover the monthly loan repayments.

  • Your employment: Being in a full-time, permanent role can boost your chances of approval, but you may still be accepted if you work part-time, work in a temporary role or are self-employed. Unemployment may make it harder to get accepted but doesn’t rule out a loan.

  • Your credit score: The better your credit profile, the higher your chances of being approved. You might even bag a better rate if you have a particularly solid credit report.

As with any borrowing, it’s smart to only borrow what you need, and to make sure you can manage the repayments comfortably throughout the loan term.

Secured or unsecured loan – which one's right for you?

Not sure which option suits your situation? Don’t worry – there’s a few factors to consider that will help guide you. The right option for you depends on how much you want to borrow, how your credit looks, and whether you’re happy using your home, car or other relevant asset as security. Here’s a quick guide to help you decide:

A secured loan could work well if

  • You’re happy to use something valuable – like your home or car – as security.

  • Your credit score isn’t great and you need a lender to look past it.

  • You want to borrow a larger amount and spread the cost over a longer time – some long-term loans go up to 40 years.

  • You’re confident you’ll make your repayments on time.

An unsecured loan might be better if

  • You’d rather not put your home or other assets on the line, or you don’t have any collateral.

  • You want fixed monthly repayments (whereas secured loans often have variable interest rates).

  • You’re borrowing a smaller amount over a shorter term.

  • You’re sure you can keep up with the payments without any issues.

By comparing loans online, you can easily weigh up the overall costs, early repayment options and term length to decide which is going to work better for you.

Loan guides

Answering your questions about loans

Page updated on 19th September 2025, Reviewed by Richard Groom