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 offering loans which can be repaid over a few months, or a few years. To get an instant decision, click on apply now below or use our loan 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.
These loans are aimed at those with bad credit histories, as they enable applicants to apply for a loan that is secured by a guarantor. It is important to note that the guarantor would be legally obliged to make repayments on your behalf if you are unable to keep up with the payments. Your loan can be repaid over 1 to 5 years in monthly instalments, depending on the amount borrowed.
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 £5000, depending on your income and credit rating, and the loan can be repaid over a period of months or years.
Unlike a guarantor loan, personal loans don’t tend to involve more than one individual. They are typically used for personal reasons such as paying off debts, car payments, large expenses, or even to cover the cost of a holiday. You can even get personal loans for bad credit.
There are a variety of reasons as to why people decide to take out a £5,000 loan. Some of the most commonly cited reasons for obtaining a loan of this size though include the following:
A loan could be used to help renovate an existing property or a new building. Maybe you want to spruce up your kitchen or add a new bathroom - you can use the money borrowed to help boost the value of your property.
Perhaps your vehicle has suddenly broken down, or your boiler needs replacing - a £5,000 loan could be essential to help cover these expenses.
With so many costs to take into consideration, some couples use a loan to help cover a special day, or parents may opt to borrow the money to help their children.
A debt consolidation loan can 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. 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? There are a number of advantages to deciding to apply for a loan through our broker service, but here are some of the main benefits:
Here at My Financial Broker, we don’t charge you any fees for using our services. We instead work on a commission basis with our lenders.
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 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 (FCA). We think this is vitally important, as it means that any lender we partner with is adhering to the FCA’s regulations regarding borrowing and interest rates, ensuring that borrowers are provided loans that are fair in price and customers are treated fairly.
We are proud of the fact that our team has a combined experience spanning more than 25 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.
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.
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.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.
While some lenders may have specific requirements when borrowing from them, the basic criteria for taking out a £5,000 loan are as follows:
The exact eligibility criteria for some lenders will depend 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, and is preferably a homeowner, 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