How to get a £100,000 loan

Everything you need to know to get your application for a £100,000 personal loan approved

Updated . What changed?

Fact checked

The UK's largest range of secured loans

  • Loans from £1,000 to £2,500,000
  • See your quote before you apply
  • Quote won’t affect your credit score
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured on it.

£100,000 loan calculator

Table: sorted by overall cost for comparison (representative APRC)

Property value

Current mortgage

Loan term

Data indicated here is updated regularly
Name Product Maximum LTV Loan amounts Loan terms Overall cost for comparison Monthly repayment Total payable
Paragon Personal Finance Prime Rate Secured Loan
65%
£30,000 to £500,000
10 to 30 years
3.6% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
60%
£100,000 to £500,000
10 to 30 years
3.6% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
60%
£100,000 to £500,000
10 to 30 years
3.8% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
70%
£30,000 to £500,000
10 to 30 years
3.8% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
65%
£30,000 to £500,000
10 to 30 years
3.8% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
70%
£30,000 to £500,000
10 to 30 years
4% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
75%
£20,000 to £250,000
5 to 25 years
4.3% APRC
£
£
Evolution Adverse Secured Loan
65%
£10,000 to £500,000
3 to 25 years
4.5% APRC
£
£
Paragon Personal Finance Prime Rate Secured Loan
75%
£20,000 to £250,000
5 to 25 years
4.5% APRC
£
£
Evolution Adverse Secured Loan
70%
£10,000 to £500,000
3 to 25 years
4.6% APRC
£
£
Masthaven Bank Flexible Secured Loan
70%
£10,000 to £150,000
3 to 35 years
4.9% APRC
£
£
Optimum Credit Prime Rate Secured Loan
50%
£7,500 to £200,000
3 to 30 years
5.1% APRC
£
£
Evolution Adverse Secured Loan
75%
£10,000 to £200,000
3 to 25 years
5.2% APRC
£
£
Masthaven Bank Flexible Secured Loan
70%
£10,000 to £150,000
3 to 35 years
5.4% APRC
£
£
United Trust Bank Ltd Secured Loan
65%
£10,000 to £125,000
3 to 30 years
5.4% APRC
£
£
United Trust Bank Ltd Secured Loan
70%
£10,000 to £125,000
3 to 30 years
5.4% APRC
£
£
Optimum Credit Prime Rate Secured Loan
60%
£7,500 to £200,000
3 to 30 years
5.7% APRC
£
£
Optimum Credit Prime Rate Secured Loan
70%
£7,500 to £200,000
3 to 30 years
5.9% APRC
£
£
United Trust Bank Ltd Secured Loan
75%
£10,000 to £125,000
3 to 30 years
6% APRC
£
£
United Trust Bank Ltd Secured Loan
65%
£10,000 to £125,000
3 to 30 years
7.1% APRC
£
£
United Trust Bank Ltd Secured Loan
70%
£10,000 to £125,000
3 to 30 years
7.1% APRC
£
£
Optimum Credit Prime Rate Secured Loan
80%
£7,500 to £200,000
3 to 30 years
7.4% APRC
£
£
Optimum Credit Prime Rate Secured Loan
90%
£7,500 to £200,000
3 to 30 years
8% APRC
£
£
United Trust Bank Ltd Secured Loan
75%
£10,000 to £125,000
3 to 30 years
8.4% APRC
£
£
Equifinance Standard Secured Loan
60%
£5,000 to £150,000
3 to 25 years
9.5% APRC
£
£
United Trust Bank Ltd Secured Loan
65%
£10,000 to £125,000
3 to 30 years
9.7% APRC
£
£
United Trust Bank Ltd Secured Loan
70%
£10,000 to £125,000
3 to 30 years
9.7% APRC
£
£
Equifinance Adverse Secured Loan
60%
£5,000 to £150,000
3 to 25 years
10.2% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
10.4% APRC
£
£
United Trust Bank Ltd Secured Loan
75%
£10,000 to £125,000
3 to 30 years
10.5% APRC
£
£
Clearly Loans Exclusive Secured Loan
75%
£5,000 to £100,000
4 to 20 years
10.7% APRC
£
£
Equifinance Adverse Secured Loan
60%
£5,000 to £150,000
3 to 25 years
10.7% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
11.1% APRC
£
£
Equifinance Adverse Secured Loan
60%
£5,000 to £150,000
3 to 25 years
11.5% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
11.5% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
80%
£5,000 to £100,000
4 to 20 years
11.6% APRC
£
£
Equifinance Adverse Secured Loan
60%
£5,000 to £150,000
3 to 25 years
12% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
12.4% APRC
£
£
Clearly Loans Exclusive Secured Loan
85%
£5,000 to £100,000
4 to 20 years
12.7% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
12.9% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
90%
£5,000 to £100,000
4 to 20 years
14.4% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
95%
£5,000 to £100,000
4 to 20 years
15.6% APRC
£
£
loading

Compare up to 4 providers

Your search returned no results.
Overall representative example
If you borrowed £35,000 over a 14-year term at 8.95% p.a. (variable), you would make 168 monthly payments of £418.88 and pay £70,371.84 overall, which includes interest of £30,326.84, a broker fee of £3,550.00 and a lender fee of £995.00. The overall cost for comparison is 11.8% APRC representative.

Can I get a £100,000 loan?

You can potentially borrow £100,000 whether you have a good or bad credit history. However, you’ll need to be able to afford the repayments and you’ll need to be able to secure the loan against a property.

£100,000 loans are available from a wide range of lenders. These lenders tend not to be the big, high-street banks with household names, but are nonetheless well-established and reputable brands, authorised and regulated by the Financial Conduct Authority (FCA).

You’ll need to have built up sufficient equity in your property in order to be able to borrow against it. Each loan will specify a maximum LTV (that’s loan-to-value ratio). So, if your house was worth £250,000 and you had a £100,000 mortgage outstanding (i.e. 40% of the property value), a loan specifying a maximum LTV of 80% could allow you to borrow an additional £100,000.

How much are payments on a £100,000 loan?

4% p.a. interest 8% p.a. interest 12% p.a. interest
3-year term £2,952 £3,134 £3,321
5-year term £1,842 £2,028 £2,224
7-year term £1,367 £1,559 £1,765
10-year term £1,012 £1,213 £1,435
15-year term £740 £956 £1,200
20-year term £606 £836 £1,101

How much does a £100,000 loan cost overall?

4% p.a. interest 8% p.a. interest 12% p.a. interest
3-year term £106,286 £112,811 £119,572
5-year term £110,499 £121,658 £133,467
7-year term £114,818 £130,924 £148,283
10-year term £121,494 £145,593 £172,165
15-year term £133,144 £172,017 £216,030
20-year term £145,435 £200,746 £264,261

The loan illustrations above use approximate, rounded figures, based on a flat interest rate. Longer-term secured loans are likely to have variable interest rates. That means that if the rate goes down during the course of the loan, the monthly and overall costs would decrease. If the rate rises during the course of the loan, the monthly and overall costs would increase. Current interest rates are low compared to historical averages.

How much income do I need for a £100,000 loan?

First and foremost, you must be able to afford the repayment schedule. Longer loans tend to have lower monthly repayments (but tend to be more expensive overall). So, applicants with lower incomes are likely to need to spread the loan over a longer term.

Ultimately your income is just one important part of the picture on which a lender will assess your case.

Some loans specify a minimum income requirement in the basic eligibility requirements (example below); however, meeting these entry-level criteria means that your application can be assessed for approval, not that approval is guaranteed.

A minimum income requirement taken from the lending criteria for Masthaven second-charge mortgages

What credit score do I need for a £100,000 loan?

Loans secured against property put less emphasis on your credit score and more on the amount of equity in your property and the affordability of the proposed repayment schedule.

Some lenders specifically aim to serve those with bad credit. However, realistically, if you have a damaged credit history you’re likely to pay a higher interest rate.

How long does it take to get a £100,000 loan?

A secured loan typically takes 2-3 weeks to arrange and draw down. Although there aren’t solicitors involved, a property valuation will be required and the bank holding the first charge over the property will also need to give its approval.

These extra steps can make secured loans a little slower than unsecured loans. The trade-off for many is access to lower rates and/or larger sums.

How long does it take to pay off a £100,000 loan?

We’ve built a calculator so you can see how adjusting your loan term can make your monthly repayments more affordable. If you can pay more each month you could clear the loan in less time. As a general rule of thumb, spreading repayments over a longer timeframe normally makes for lower monthly repayments (but a higher overall cost). So, it really depends on what you can afford to repay each month.

At a fixed annual rate of 5.5%, a £100,000 loan would take just under 16 years to repay if your monthly repayment was £790. However, if you wanted to keep the monthly costs down, and paid £650 each month, it would take a little over 22 years.

How will a lender evaluate my application?

Here is a non-exhaustive list of some of the key factors that will matter to a lender weighing up the risk of lending to you:

  • The amount of equity in your home. This is how much of the property you actually own, i.e. the current market value of the property minus whatever is still owing to your mortgage provider.
  • Your regular income and outgoings and those of any co-signatories (if it’s a joint application). This is crucial when determining whether or not the monthly repayments would be affordable for you. Lenders will want to know what debt you’re currently carrying and how much that’s costing you each month. If your reason for seeking a new loan is debt consolidation then naturally this will be taken into account.
  • Your credit history. This is a file kept by credit reference agencies like Experian, TransUnion and Equifax, which records your borrowing history. Lenders will be hoping to see that you have a history of using credit responsibly. CCJs are also visible to lenders through your credit report.
  • Why you want to borrow the money – i.e. the loan purpose. Lenders are pretty open-minded when it comes to the loan purpose, but may have specific unacceptable purposes (like borrowing to put down a deposit against an even larger loan).
  • Routine eligibility criteria like UK residency (some lenders will specify that you must have been a UK resident for a certain amount of time) and your age (both minimum and maximum) at the start or end of the loan term.

£100,000 loans for the self-employed

Realistically, getting a £100,000 loan can be harder for self-employed people, who are seen as a higher risk by lenders because their income is perceived to be less stable. Still, there are lenders that specialise in homeowner loans for self-employed people. Expect to be asked for a little extra documentation – typically two years worth of accounts, SA302s/tax calculations, HMRC tax overview statements and possibly a reference from your accountant as well.

Looking for a £100,000 business loan?

How to get a £100,000 personal loan

  1. Work out your budget. Our calculator can help you get an idea of how long a term you’d need to spread the loan over in order to get manageable monthly repayments. As a general rule of thumb, you should aim to clear the loan in as short a time as possible, while ensuring the monthly repayments are affordable. Loans with longer terms tend to come with a variable interest rate (although some secured loans offer an introductory fixed-rate period), so it’s sensible to leave yourself a bit of leeway so that if rates rise, you’ll be able to take it in your stride.
  2. Get to know your credit record. Knowing your credit score is helpful for understanding what options are available to you. For many lenders, you’ll need a good credit score in order to be approved for a £100,000 loan. Plenty of companies can help you get free visibility of your credit report that’ll let you know how you’re tracking. If your credit score doesn’t appear to be good enough, consider applying for a smaller loan or building your credit score first and applying at a future date.
  3. Shop around or – better still – consider a broker/loan-matching service. It’s generally a bad idea to simply go straight to one lender and apply. You should always compare multiple lenders online and look for the best price for the amount you need. For a loan as big as £100,000 even a slightly better rate can translate into thousands of pounds saved. A decent broker or loan-matching service can take your details and check your eligibility against products from multiple lenders in one go – saving you a lot of time (and hopefully money too). A number of lenders (such as Masthaven) actually only offer their loans through brokers.
  4. Apply. Perhaps the easiest way to apply for a £100,000 loan is with the help of a good broker. You’ll provide some basic details, agree to a credit check and the indicative result of your application will usually be made available within seconds. Bear in mind that you should only ever formally apply for credit when you’re pretty confident that you’ll get approved (lenders and brokers can help you to establish this beforehand). Each application for credit usually involves a search of your credit file, which causes a small (and usually short-lived) negative effect on your credit score.

Should I just remortgage?

Remortgaging is a popular strategy for homeowners to get hold of huge lump sums. This involves altering your mortgage deal and borrowing against the equity of your property. If you’ve got a lot of equity or can bag a low mortgage rate, this could prove more economical than a personal loan.

Full guide to remortgaging

Ready to compare rates?

Get started

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site