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Compare loan representative rates from 5.8%[2]
Take a look at our best loan rates for loans between £7,500 and £15,000.
Name of Lender | Loan Rate | Eligibility checker |
|---|---|---|
People's Choice (owned by insurer Hastings) | Representative 5.8% APR | |
M&S Bank | Representative 6% APR | |
Santander | Representative 6% APR |
Rates shown are Representative rates, which means that at least 51% of those accepted must get this rate but others can be charged more. Actual rate depends on individual financial circumstances.
Use our handy personal loan calculator tool to find out how much your monthly repayments could be, and how much you can afford to borrow
Find out what monthly repayments would be, how much you'll pay overall and how much you could borrow.
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Total amount
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Based on the information you supplied, you would be borrowing XXX and repaying the loan in XXX monthly instalments of . The total sum to repay, subject to XXX% APR over the full loan term would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
Total amount
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Based on the information you supplied, you could borrow XXX at a monthly repayment rate of to be paid over XXX monthly instalments. Over the full loan term at XXX% APR, the total amount repayable would be XXX. This assumes there are no extra fees and that your payments are made on time and in full.
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If you need a larger amount, consider a secured loan, which will allow you to borrow more but uses your home as collateral. Be aware that lenders can sell your house if you fail to keep up with repayments.
A £10,000 loan can give you that cash injection you need. With this sum of money, it could help you fund the following:
Wedding: Your big day can come with a big price tag. You can use a loan to help fund your wedding
Car: Whether you want the latest model or used car, getting a new set of wheels might set you back a bit. Using loan can help spread the cost of getting the car you want
Home improvement: Refurbishing your house can be pricey so many people use loans for home renovations to help make the costs manageable
There are different types of loans available - which you can get will depend on your financial situation and your credit score…
You don’t need to put any assets down as security, but you may need a good credit score to be eligible
You’ll be required to put up a valuable asset – usually your home – as security to get the loan
Before lenders offer loans, they consider your personal circumstances, like your outgoings, income, and previous borrowing history. For a successful loan application, consider the following:
Lenders often require you to:
Be over 18
A UK resident
If you don't meet this criteria, lenders are very unlikely to enter a loan agreement with you.
Every time you apply online for a form of lending, like credit cards, mortgages, or loans, the lender will perform a 'hard credit check' which shows up on your credit file.
If you have multiple hard checks over a short period of time, this is a red flag to lenders and may reject your application.
We recommend using a loan eligibility checker to perform a soft search and find lenders where you have a higher chance of being approved.
Lenders will check your credit file, so before you start making applications you should review your report and address any errors before applying, including:
Existing credit agreements
Your financial links with other people (including ex-partners)
Missed payments
Beyond errors, check you're registered on the electoral roll and take steps to improve your credit score - it could make a big difference to your monthly repayments and wider loan eligiblity.
If you’ve struggled with debts in the past and have a low credit score it could be more difficult to get a £10,000 loan. But it's not impossible to borrow, even with a poor credit history - just be confident you can afford the repayments.
Specialist lenders offer loans for bad credit - although you may not be able to borrow as much as £10,000 and the interest rate could be high.
Secured loans, where you put down a valuable asset, such as your home, as security, and guarantor loans – where a friend or family member with a better credit score agrees to be liable for the debt if you cannot pay, are both potential options. But you may not be able to borrow large sums.
Boost your chances of getting a better loan deal by improving your credit score with our free Credit Score service.
Representative 23.3% APR
As you’d expect, you’ve got the best chance of being approved for a larger loan, such as £10,000 or above, if your credit score is ‘excellent’ or you’re putting up an asset as security. If you find you’re not eligible for larger loan amounts and you’d like to be, you’ll need to take steps to improve your credit score. The good news is that there are lots of simple, quick things you can do that. And the better news is that you’ll find them all in our handy tipsheet.
Kara Gammell Personal Finance Expert
See personalised deals and find the right loan for you
We’ll need to know a bit about you and your finances. For secured loans, register yourself as a homeowner in the search
We’ll show you loans you’re eligible for from leading providers across the market
You’ll be able to sort loans by the overall cost and the likelihood you’ll be accepted
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
If you’re looking for more information about loans, you’ve come to the right place. We have many guides you can read to help you get to grips with loans.
APR stands for annual percentage rate, and it basically means the interest rate at which you’ll pay back the £10,000. It includes the main interest rate of the loan, but also takes any other fees and charges into account so you get a better picture of the loan’s total cost.
When you see a representative APR advertised on a loan, it means this rate must be offered to at least 51% of applicants – you won’t be guaranteed to get this rate yourself, as this will be based on your personal circumstances.
A soft search is how we find out where you stand in terms of getting a loan without affecting your credit report, so you can find a loan you’ll be eligible for without damaging your chances of being successful when you apply.
If you miss a repayment on your loan, you risk having to pay a late fee – but you may also lose any low- or zero-interest incentives you have. Your interest rate could even go up for future repayments.
A repayment holiday is when you agree with your lender that you don’t need to make your repayments for a set period of time – which can be useful if you’ve had a change in circumstances. For example, you might benefit from a payment holiday during times of unemployment, maternity or other surprise expenditures.
You will normally be able to pay all of part of your loan off early, but it may involve an early repayment charge.
If you think you might struggle to make your loan repayments you should contact your lender as soon as possible.
They may be able to help you figure out an alternative payment plan if you do, but if you don’t you could be penalised for missing your repayments.
Once you’ve been approved for your loan you should receive the funds fairly quickly – but this will depend on the lender, as each will have their own policy. In some cases you could get your loan funds within days.
Your eligibility for a £10,000 loan will depend on the lender’s eligibility requirements. Generally, the better your credit score, the more likely you’ll be accepted for a loan. However, there are specialist lenders out there who lend to people with bad credit. You’ll also usually have to be over 18 to be accepted for a loan.
There might be fees with a £10k loan. The exact amount will vary depending on your lender and the conditions of the loan. Some fees you may encounter include:
Late Payment Fee: If you don’t make your loan repayments on time, you could face a late payment fee. If you’re experiencing loan repayment difficulty, contact your lender immediately. Late loan repayments can harm your credit score and make borrowing money difficult in the future.
Early Repayment Fee: You might think paying your loan off early can be a good thing. However, you can incur an early repayment fee if you pay before the agreed upon loan term.
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You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.
