Warning: Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 292% (fixed). Representative 171%APR. Total repayment amount £1351.20 and total interest is £601.20. 12 monthly payment of £112.60.** We do not know how many customers take out a loan or the APR, this calculation is based on the mean APR of the lenders we work with
My Financial Broker can help you borrow £5,000 at the most competitive rates and find the lender most likely to accept your application. We have established partnerships with reputable direct lenders who can offer loans for good credit and bad credit histories. You can apply to borrow £5,000 with a range of flexible repayment options, with our lenders offers loans repaid few months to up to 5 years in total. To get an instant decision, click on apply now below or use our calculator provided.
There are several types of £5,000 loans with some better suited to good and bad credit histories. When choosing the right loan, consider how long you wish to borrow for, since personal and unsecured loans can be repaid over 5 or 10 years, but something like a payday loan is usually paid back over 1 to 2 years maximum.
Guarantor loan Aimed at those with bad credit histories, as it enables applicants to apply for a loan that is secured by a guarantor. It is extremely important that the guarantor is aware of the fact that they are legally obliged to make repayments on your behalf if you default on them. Your loan can be repaid over 1 to 5 years in monthly instalments. See guarantor loans for more information. Unsecured loan This type of loan does not require you to secure valuable assets to receive funds, meaning you do not risk potentially losing high-value items if you default on loan repayments. You can borrow up to £5,000 or higher, depending on your income and credit rating, and it can be repaid over 5 or 10 years. Personal loan This is a loan that is for one person, and used for personal reasons such as paying off debts, car payments, holidays and more. You can borrow up to £25,000 or £50,000 over 5 or 10 years, or longer. See personal loans to apply.
The reasons why people decide to get a £5,000 loan are wide-ranging. However, some of the most commonly cited reasons for obtaining a loan of this size include: Home improvements A loan to help renovate an existing property or a new building. Maybe you want to spruce up your kitchen or a new bathroom, you can use the money borrowed and it will improve boost the value of your property. Emergency costs Perhaps your vehicle has suddenly broken down, or your boiler needs replacing. A wedding With so many costs to take into consideration, some use a loan to help cover a special day for them or their children. Debt consolidation To make clearing debts easier and less stressful Whatever the reason may be, My Financial Broker has access to a large number of trustworthy lenders who will be more than happy to help with providing a loan at a competitive rate.
What makes us stand out from the rest? We think there are a number of advantages to deciding to apply for a loan through our team. Here are some of the main benefits: No upfront fees The My Financial Broker team does not charge you any fees for using our services. Complete transparency It is one of our top priorities to ensure that we are completely upfront about any potential costs you may need to pay, as well as the structure of repayment dates. We are regulated we are a responsible broker, and we make sure that any lender we work with is either fully authorised (or has interim permission) by the industry regulator, the Financial Conduct Authority. We think this is vitally important, as it means that any lender we partner with is adhering to the FCA’s regulation regarding borrowing and interest rates, ensuring that borrowers are provided loans that are fair in price and customers are treated fairly. 35 years of experience in the industry We are proud of the fact that our team has a combined experience spanning 35 years in the loans sector. This means that as a customer using our loan brokering site, you will be able to benefit from the considerable amount of knowledge and expertise we have accumulated over these many years to make your application as smooth as possible. Instant decision At My Financial Broker, we understand that trying to get funds as quickly as possible is probably one of your main priorities when looking to borrow money. This is why we have tried to make the process as speedy as possible when making an application online with us: you will receive an instant decision as to whether you will be approved for a loan through one of our lenders. Entire application process online We have aimed to make the loan application process as straightforward as it possibly can be and to make it accessible for all. This is why when you apply with My Financial Broker, everything takes place online, with no need for paperwork or phone calls.
The typical criteria for a £5,000 loan is: - Being over 18 years old - Being a UK based resident - Being in employment with a stable salary - Having a UK mobile number - Having a debit card and bank account
The exact eligibility criteria for the lenders that My Financial Broker partners with can depend, especially on the type of loan that you apply for (for example, with a guarantor loan application, you will need to nominate a guarantor who has a good credit score, is in steady employment, preferably a homeowner, etc, whereas none of this criteria applies for a payday loan). Depending on the product, you can choose a no guarantor loan, if you prefer to deal directly with the lender and not have any other parties involved.
Making an application for a loan product through us is an easy and straightforward process. All you will need to do is complete an online application form that should take you no less than 5 minutes to fill in. We will need information regarding your income, employment, expenditure and a few other details before going ahead. We will provide an instant quote and decision on screen, and if approved, you could end up receiving funds in just a few hours.Apply Now