Compare great deals on £30,000 loans
Check eligibility before you apply
Thinking about some home improvements and need a loan to spread the cost? You can search for £30,000 loans with MoneySuperMarket, but for this size of loan it’s likely to be a secured loan. That’s where you’ll need to use your home as security against the debt.
When you search with us we’ll find loan deals that are most suitable for your needs – and show you your chances of being accepted. And it won’t impact on your credit score.
Just tick to say you’re a homeowner if you want to compare secured loans.
You can see all the loans your eligible for in one place. This includes the interest rate you’ll be charged and how much the monthly repayments will be – plus your chances of being accepted.
We’ll run a soft search on your credit report to check your chances of being accepted for a loan. This won’t leave a mark on your file or affect your credit score in any way.
Compare across a wide range of UK loans which you’re eligible for. You can compare by interest rate and chance of success if you apply.
We do the heavy lifting, so you don't have to. We work with a wide range of leading providers to help you borrow the money you need.
The cost of your £30,000 loan will depend on a range of factors including
How long you want to borrow the loan (known as the term)
The interest rate or APR you can get. This will usually depend on your credit score – the higher your credit rating the lower your interest rate
To keep costs down look to boost your credit score to achieve the lowest possible loan rate. You could also opt for a longer loan term. Our loan calculator can help you work out what your loan will cost.
Example of costs of a £30k loan |
|---|
| 2.8% APR over five years | 3.5% APR over five years | |
|---|---|---|
| Monthly repayments | £536 | £545 |
| Total cost of loan and credit | £32,156 | £32,701 |
These rates were chosen for illustration purposes and are not based on any products available with MoneySuperMarket. Calculations were made using MoneySuperMarket’s loan calculator.
When you apply for a loan, it’s not always clear what deal you’ll be offered or whether you’ll be accepted. But when you’re pre-approved for a loan, you know the deal you see is the deal you’ll get – you’ll know where you stand, with information that will help you make the right choice.
When you’re pre-approved, the
loan amount, duration and interest
rate are all confirmed
When you know what you’ll be able to
borrow and how much it will cost, you
can choose a loan that’s right for you
This helps protect your credit score as
you’re less likely to be rejected when
you apply
Can I get a 30000 loan with bad credit?
While it may not be impossible to get a very large loan even if you’ve got a low credit score it is likely to be much more difficult. Lenders are unlikely to loan you £30,000 – even on a secured loan - if your credit file shows you have a history of missed repayments and debt problems.
That said it will often still be possible to borrow. Bear in mind...
If you have bad credit look at ways to start building your credit score – as this will unlock better loan deals in future.
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
APR, or your Annual Percentage Rate, is the interest rate at which you pay back money you’ve borrowed. It takes into account the actual interest rate you pay, plus any other fees or charges involved in the deal, to give you a more complete picture of what you loan will cost.
When you see a rate advertised as the representative APR, this means the lender is required to offer this rate to at least 51% of applicants – however it doesn’t mean you’re guaranteed to receive this interest rate yourself.
A’ soft’ credit search or soft-application is a way of finding out where you stand in terms of getting a loan without leaving a mark on your credit report. It’s a useful way of finding a loan you’ll be eligible for without harming your chances of being accepted.
You can take out a £30,000 loan for a number of reasons, such as home improvements or funding education to big purchases like buying a car, a caravan or a boat, for example. However, it’s unlikely you’ll be approved for a loan to cover your day-to-day living costs. For secured loans it is likely you'll only be able to borrow for either home improvements or debt consolidation.
To borrow a large sum of money such as £30,000 at a competitive interest rate you will usually need a good to excellent credit rating. If your credit score is poor you may have to accept borrowing less and paying a higher interest rate. It could be worth taking some time to build up your credit score. By growing your score over time you’ll unlock lower borrowing rates for loans, credit cards and mortgages.
You will usually be able to pay off some or all of your loan early if you want to – but the lender could impose an early redemption penalty charge.
How quickly you’ll receive your loan will depend on the lender. But once you’ve been accepted and approved for your £30,000 loan, the money could be with you very quickly – and usually within a couple of days.
If you’re struggling with your finances and you think you might not be able to make your repayments, you should call your lender as soon as possible – they may be able to help you work out an easier repayment plan by restructuring the loan, or a repayment holiday.
If you don’t let your loan provider know and your miss a repayment you could be hit with steep penalty fees and interest – and it is likely to negatively affect your credit score.
How to secure the best card or loan deal in a lending squeeze
Can you get a loan without a credit check?
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Secured loans can be a way to borrow more, by using your home (or other valuable asset) as security. Understand how secured loans work in our guide with pros and cons to consider.
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