Apply with confidence
When you’re pre-approved, the loan amount, duration and interest rate are all confirmed
Compare great deals on £5,000 loans
Doesn't harm your credit score
We do the heavy lifting, so you don't have to. We work with leading providers to help you borrow the money you need.
If you’re looking to make home improvements, purchase a car or pay for wedding costs, then a £5,000 loan could be a great option. Borrowing the money upfront and paying it back in fixed instalments can help you to budget and pay off the cost over a longer time frame.
When you search for a £5,000 loan online with MoneySuperMarket we compare deals from leading UK loan providers across the market.
It’s quick and simple and we’ll also show you your chances of being accepted for each loan so you can apply in confidence. Searching won’t affect your credit score.
How much a £5,000 loan will cost you will depend on a number of factors, including:
The loan term: The ‘term’ of your loan is how long you’ll be borrowing for. You can decide how long you want your loan term to be when you apply
The interest rate or APR: This will be decided by your lender, based on your financial history and your credit rating
Usually, the longer your loan term, the lower your monthly repayments will be – but you’ll pay more interest on a longer loan, so it’ll be more expensive overall.
Our loan calculator can help you work out the total cost of your loan over different terms and at different interest rates.
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
If you’ve had debt problems in the past and you’ve got a poor credit rating your choice of loans may be limited. But this doesn’t mean there aren’t options available.
Specialist lenders can offer bad credit loans. They’re aimed at those with a poor or limited credit history, so they’re easier to qualify for. But they usually have higher interest rates and lower borrowing limits – meaning they are more expensive. Representative 23.3% APR.
Taking steps to improve your credit score and comparing with MoneySuperMarket could mean bigger savings in interest by finding a great deal.
We’re here to help find the right loan for you, so we’ll tell you which rates you’re guaranteed to get.
Tell us a little about yourself, your finances and the loan you want
We’ll search through loans from a wide range of lenders on the market
You’ll be able to sort loans by the overall cost and the likelihood you’ll be accepted
It is up to you to choose a guarantor, but it should be someone who you trust – such as a close friend or family member. In order to qualify as a guarantor, they’ll need to meet the following criteria:
They must be at least 18 – or in some cases 21
They must be in full-time employment
You won’t be able to use your spouse or someone with whom you’re financially linked – for example, anyone with whom you have a joint bank account or mortgage.
A soft-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.
A repayment holiday is when you don’t have to make any loan repayments for a certain period of time that you’ve agreed with your lender. They’re generally good for when you’ve had a temporary change of circumstances, such as unemployment, maternity, or unexpected expenditures.
You’ll normally be able to pay off all or part of your loan early, though some lenders may have an early payment charge.
You can typically get a £5,000 loan without a guarantor if you have a good credit score.
Borrowers who have struggled with debts in the past and have a low credit score, and those who have never borrowed before and have no credit history may struggle to get a £5,000 loan – or a loan at a competitive interest rate. This is where sometimes a guarantor loan may be a better option.
Always research the different borrowing options and consider the pros and cons of a loan. If you borrow on a loan and get into difficulties with your repayments you could further damage your credit score.
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 or a repayment holiday. Not letting your bank know could mean you’ll be penalised for missing any payments.
Once you’ve been approved for a loan, depending on your lender, you could receive the funds into your bank account very quickly – this could be the next day, for example, or within the next week or two. If you’ve applied by phone or post it may take slightly longer. Things can also take a bit longer if your application or your financial circumstances are more complicated.
You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.
Whip your credit score into shape with Credit Monitor
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So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.
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.