It’s quick and easy
We’ll show you all the key information upfront so you can pick the right deal for you.
GET A GREAT DEAL ON A £50,000 LOAN
See your chances of being accepted before applying
If you’re considering home improvements and want to spread the cost, you can search for a £50,000 secured loan with MoneySuperMarket.
We’ll do a ‘soft search’ that won’t harm your credit rating, but will help find loans that are right for you – and show you your chances of being approved.
To borrow £50,000, you may need to use your home as security against the debt (known as a secured loan), so tick to say you’re a homeowner before you compare.
It’s simple to compare loans with us, and we’ll show you your chance of being approved for each loan deal.
We’ll show you all the key information upfront so you can pick the right deal for you.
Don’t worry. We’ll show you your chances of being accepted for each deal.
Once you’ve made your choice, click through to the loan provider to apply.
We’ve partnered with Fluent Money to help you find the right secured loan
How much your £50,000 loan will cost you will depend on a number of factors, including:
How long you want to borrow the money (the term)
How much interest you’re paying – this is set by your lender based on your financial circumstances and credit score
A longer term loan will reduce your monthly repayments, but you’ll end up paying more interest overall. Our loan calculator can help work out how much your monthly repayments might be and how much you could afford to borrow.
Example costs of a £50k loan |
|---|
| 5% APR over five years | 5% APR over 10 years |
|---|---|---|
Monthly repayments | £941 | £528 |
Total cost of loan and credit | £56,461 | £63,314 |
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 get the information to 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 toborrow and how much it will cost, youcan choose a loan that’s right for you
This helps protect your credit score asyou’re less likely to be rejected whenyou apply
If you’ve struggled with debt in the past and have a low credit score, it could be more difficult to get a £50,000 loan.
But it’s not impossible. Options include a secured loan, where you put up security, such as your house. Or a guarantor loan, where a family member agrees to pay off the loan if you’re unable to.
There are specialist lenders for bad credit
You’re unlikely to be able to borrow a large amount
Interest rates are likely to be higher
Improving your credit rating will help you borrow at better rates in the future. Check your score for free and get tips on giving it a boost with our credit monitor tool.
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 your finances and tick that you're a homeowner to see secured loans
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
APR stands for Annual Percentage Rate and is the percentage of interest you’ll pay on a loan over a year once the interest rate and any other charges such as arrangement fee or annual fee have been factored in. APRs try to help potential borrowers compare different deals on loans, mortgages and credit cards. The only difference from a standard interest rate is that fees are included in the calculation. Therefore, a loan’s APR will be higher than its interest rate if the deal has any fees attached.
A soft search is a way of running a check on your finances to see what deals you might be suitable for without leaving a mark on your credit score. Too many credit applications in a short period can have a negative impact on your credit rating making borrowing more difficult in the future. A soft search can show you your chances of being accepted for any deal along with any loans you’re already pre-approved for. This means you can apply in confidence for the deal you want.
There are various ways you could use a £50k loan. A popular use is for home improvements, which might be seen as an investment in your property’s value. Another option could be to consolidate existing debts, giving you the opportunity to clear what you owe elsewhere and then pay back the £50k loan in a series of affordable monthly repayments at a lower rate of interest than you were previously paying.
Each lender has different criteria to decide whether to accept a borrower for a £50k loan. But the higher your credit score, the better your chance of approval and at lower interest rates. Our guide to What is a good credit score? provides more information.
You will be able to pay off your £50,000 loan early, but you should factor in any early repayment charges first before deciding. Information on any early repayment charges will be in the conditions when you sign up for the loan, so take note of these before you apply – particularly if you think there is a chance you may be able to clear it early.
Once approved, you should receive your money in a few working days. Each lender has different terms for how quickly they release the funds.
If you can’t make the repayments on your loan contact your lender as soon as possible. It should help you work out a solution, such as a short-term payment holiday (although you’ll still accrue interest) or restructuring your loan to make it more affordable.
If you miss a repayment you’re likely to be hit with late fees and extra interest – and it could damage your credit score – so try to avoid this if at all possible by talking to your lender as soon as you realise you could have problems. This is particularly important if you have a secured loan, because you could be in danger of losing your home if you have repayment problems and you don’t talk to your lender.
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
Super save over and over again with Energy Monitor
There are always more ways to save with MoneySuperMarket
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.