| Lender | Loan | Maximum loan amount | Minimum income | Link |
|---|---|---|---|---|
|
HSBC Premier Personal Loan |
£50,000 |
No minimum income specified |
|
|
Shawbrook Bank Personal Loan |
£50,000 |
£15,000 per year |
|
|
Admiral Personal Loan |
£40,000 |
£19,000 per year |
|
|
Novuna Personal Loan |
£35,000 |
£10,000 per year |
|
|
John Lewis Finance Personal Loan |
£35,000 |
£12,000 per year |
|
|
My Community Bank Personal Loan |
£25,000 |
£18,000 per year |
|
|
Churchill Loans |
£25,000 |
£850 per month after tax |
|
|
M&S Bank Personal Loan |
£25,000 |
£10,000 per year |
|
|
Fluro (formerly Lending Works) Personal Loan |
£25,000 |
£850 per month |
|
|
Santander Personal Loan |
£25,000 |
No minimum income specified |
|
|
HSBC Personal Loan |
£25,000 |
£10,000 per year |
|
|
Santander Existing Customer Personal Loan |
£25,000 |
£10,500+ for loans up to £19,999, or £20,000+ for loans between £20,000 and £25,000 |
|
|
Salary Finance |
£25,000 |
No minimum income specified |
|
|
Everyday Loans Personal Loan |
£15,000 |
£10,000 per year |
|
|
Bamboo Personal Loan |
£15,000 |
No minimum income specified |
|
|
BetterBorrow |
£12,000 |
No minimum income specified |
|
|
Guarantor My Loan |
£10,000 |
No minimum income specified |
|
|
1plus1 Loans Guarantor Loan |
£10,000 |
No minimum income specified |
|
|
Abound Personal Loan (formerly Fintern) |
£10,000 |
No minimum income specified |
|
|
Reevo Money Personal Loans |
£7,000 |
£15,000 |
|
|
118 118 Money Personal Loan |
£5,000 |
£700 per month |
|
|
Loans by Mal Personal Loan |
£5,000 |
No minimum income specified |
|
|
Finio Loans Personal Loan |
£5,000 |
No minimum income specified |
|
|
Lifestyle Loans personal loan |
£5,000 |
No minimum income specified |
|
|
Fluent Money Secured Loan |
£1,000,000 |
No minimum income specified |
|
|
thinkmoney Secured Loan |
£250,000 |
No minimum income specified |
|
|
Halifax Personal Loan |
£50,000 |
No minimum income specified |
|
|
Royal Bank of Scotland Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
Halifax Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
Nationwide Member Personal Loan |
£50,000 |
£700 per month |
|
|
Bank of Scotland Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
Ulster Bank Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
first direct Existing Customer Personal Loan |
£50,000 |
£10,000 per year |
|
|
NatWest Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
Lloyds Bank Existing Customer Personal Loan |
£50,000 |
No minimum income specified |
|
|
TSB Existing Current Account Customer Personal Loan |
£50,000 |
£850 per month |
|
|
Barclays Existing Current Account Loan |
£50,000 |
No minimum income specified |
|
|
Barclays Existing Premier Account Loan |
£50,000 |
No minimum income specified |
|
|
Virgin Money Existing Customer Personal Loan |
£35,000 |
No minimum income specified |
|
|
Tesco Bank Personal Loan |
£35,000 |
No minimum income specified |
|
|
Zopa Personal Loan |
£35,000 |
£12,000 per year |
|
|
Creation Financial Services Creation Loans |
£30,000 |
£9,600 per year |
|
|
Lendwise |
£25,000 |
No minimum income specified |
|
|
Danske Bank Home Owners Personal Loan |
£25,000 |
£16,000 per year |
|
|
MBNA Limited Personal Loan |
£25,000 |
No minimum income specified |
|
|
|
Tesco Bank Clubcard Personal Loan |
£25,000 |
No minimum income specified |
|
|
Lendable Personal Loan |
£25,000 |
£800 per month |
|
|
Danske Bank Existing Choice Plus or Prestige C/Acc Customers |
£25,000 |
£16,000 per year |
|
|
|
Danske Bank Existing Freedom C/Acc Customers |
£25,000 |
£16,000 per year |
|
|
TSB Personal Loan |
£25,000 |
£850 per month |
|
|
Monzo Bank Personal Loan |
£25,000 |
No minimum income specified |
|
|
AIB (NI) Personal Loan |
£25,000 |
No minimum income specified |
|
|
|
thinkmoney Personal Loan |
£25,000 |
No minimum income specified |
|
|
Danske Bank Fixed Rate Personal Loan |
£25,000 |
£16,000 per year |
|
|
Plata Personal Loan |
£20,000 |
No minimum income specified |
|
|
Norwich Trust Limited Unsecured Homeowner Loan |
£20,000 |
£1300 per month |
|
|
Oakbrook Loans personal loan |
£15,000 |
No minimum income specified |
|
|
LiveLend personal loan |
£12,000 |
£12,000 per year |
|
|
Plend personal loan |
£10,000 |
No minimum income specified |
|
|
Toot Loans Personal Loan |
£5,000 |
£1,000 monthly income |
|
|
Munzee Loans Personal Loan |
£3,000 |
No minimum income specified |
You can generally find personal loans from £1,000 to £25,000. Some larger banks might offer personal loans of up to £50,000 to existing customers, but those are exceptional cases. For loans higher than this, you’ll generally need to offer some form of security and take out a secured loan.
However, the amount you’ll actually be able to borrow depends on several factors, including your financial history and credit rating. Many lenders favour applicants with good credit scores, as this shows you’re a reliable borrower and are likely to repay your loan on time. What constitutes a good credit score depends on the credit rating agency (CRA) you use, as the 3 main CRAs in the UK all score consumers differently. But generally, the higher your credit score, the better.
While you can still find borrowing options with bad credit, you likely won’t be eligible for the largest loan amounts available.
If approved for a loan, the lender tells you the total amount you can borrow. However, it’s important to consider how much you actually need and what you can afford to borrow before taking out a loan.
This depends on the type of loan and lender, but as a rule of thumb, unsecured personal loans are generally offered for up to £25,000 or £40,000. Loan amounts higher than this are often secured loans, which means you’ll need to use an asset as security against the loan.
Your home is the most common type of asset used for a secured loan, which means you’ll usually need to be a homeowner to qualify. Secured loans are typically available for sums as high as £500,000, but the maximum you can borrow is dictated by your property’s value and the amount of debt currently secured against it (i.e., in your “first charge” mortgage). Secured loans are usually repaid over a longer period compared to unsecured loans.
Discover and compare secured “homeowner” loans
Most personal loan providers have limits on how much they can offer. But in reality, these don’t apply to all borrowers. How much you can actually borrow depends on a wide range of factors, like your financial situation and credit history.
There are no guarantees you’ll be approved for the loan amount you’re seeking, but these tips may help you get the amount you need:
However, it won’t always be in your best interests to borrow up to your maximum limit. You may find it hard to afford your repayments or may end up paying unnecessary interest if you borrow more than you need.
While a lender will only offer you a loan amount it believes you can pay back, it’s important that you also understand your borrowing limits. To be sure you can afford the maximum amount a lender offers you, do some basic calculations first. You can calculate how much you can afford to borrow by taking into consideration both your current bills and your current monthly income.
Add up all your bills and regular expenses – including all your debt payments – and subtract this from your take-home pay. If you have a few hundred left over, you can likely afford a new loan for a large amount. If you don’t, work on paying down some of your other debts before borrowing.
Our personal loan borrowing calculator can help you quickly determine how much you may be able to spend on a new loan.
Borrowing the maximum amount available could enable you to cover the full cost of whatever you need the funds for. You might be paying for an extension to your property, for example, or buying a new car. In some cases, borrowing a larger amount also reduces the interest rate, although this usually only applies to borrowing amounts of between £7,500 and £25,000.
But as well as the benefits, there are a number of drawbacks. For a start, your monthly repayments will be higher, and this could make it harder to repay your loan on time. If you miss repayments, you risk damaging your credit score, so it’s important to be sure you can afford your loan before you take it out. You’ll also pay more interest overall as you’re borrowing more, and you’ll increase your debt load.
When you submit an application, lenders take into account a few different pieces of information to determine if you qualify for the maximum loan amount you’re requesting.
The maximum amount available for a loan and the maximum amount you can borrow will vary depending on the lender and your financial circumstances. Find the right lender and see what types of rates you may be offered. If it matches your budget, you may be on your way to financing that next big purchase in your life.
If you need to borrow funds in a hurry to cover an unforeseen expense, this guide explores your options.
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