Compare £60,000 loans to get the best rate available to you

See how to get approved for a £60,000 personal loan for good or bad credit and use our calculator to estimate costs.

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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.

£60,000 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
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
£
£
Norton Fast Track Secured Loan
75%
£3,000 to £75,000
1 to 25 years
10.5% 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
£
£
Norton Fast Track Secured Loan
75%
£3,000 to £75,000
1 to 25 years
11.1% APRC
£
£
Equifinance Adverse Secured Loan
75%
£5,000 to £75,000
3 to 25 years
11.4% 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
75%
£5,000 to £75,000
3 to 25 years
11.9% APRC
£
£
Equifinance Adverse Secured Loan
60%
£5,000 to £150,000
3 to 25 years
12% APRC
£
£
Clearly Loans Exclusive Secured Loan
75%
£5,000 to £60,000
4 to 20 years
12.3% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
12.4% APRC
£
£
Clearly Loans Northern Ireland Secured Loan
65%
£7,500 to £60,000
4 to 20 years
12.6% APRC
£
£
Clearly Loans Exclusive Secured Loan
85%
£5,000 to £100,000
4 to 20 years
12.7% APRC
£
£
Equifinance Adverse Secured Loan
75%
£5,000 to £75,000
3 to 25 years
12.8% APRC
£
£
Equifinance Adverse Secured Loan
70%
£5,000 to £100,000
3 to 25 years
12.9% APRC
£
£
Clearly Loans Northern Ireland Secured Loan
75%
£7,500 to £60,000
4 to 20 years
13.2% APRC
£
£
Clearly Loans Exclusive Secured Loan
75%
£5,000 to £60,000
4 to 20 years
14% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
90%
£5,000 to £100,000
4 to 20 years
14.4% APRC
£
£
Equifinance Adverse Secured Loan
75%
£5,000 to £75,000
3 to 25 years
14.6% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
95%
£5,000 to £100,000
4 to 20 years
15.6% APRC
£
£
Loan Logics Fast Track Secured Loan
60%
£3,000 to £70,000
1 to 25 years
15.9% APRC
£
£
Loan Logics Fast Track Secured Loan
60%
£3,000 to £70,000
1 to 25 years
15.9% APRC
£
£
Equifinance Adverse Secured Loan
75%
£5,000 to £75,000
3 to 25 years
17.2% APRC
£
£
Clearly Loans Northern Ireland Secured Loan
85%
£7,500 to £60,000
4 to 20 years
18.5% APRC
£
£
Clearly Loans Exclusive Secured Loan
95%
£5,000 to £60,000
4 to 20 years
18.6% APRC
£
£
Clearly Loans Exclusive Secured Loan
95%
£5,000 to £60,000
4 to 20 years
19.8% APRC
£
£
Clearly Loans Northern Ireland Secured Loan
95%
£7,500 to £60,000
4 to 20 years
21.1% APRC
£
£
Clearly Loans Exclusive High LTV Secured Loan
85%
£5,000 to £60,000
4 to 20 years
22.5% APRC
£
£
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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.

How can I get a £60,000 loan?

It’s possible to get your hands on a £60,000 personal loan, but you’ll need to secure a loan of this size against a property, which means you’ll likely only be able to borrow £60,000 if you own a house.

When applying for large loans, it’s also especially crucial to have your finances in order. If you’ve got a healthy credit score and a decent amount of equity in your property, it will make the process much easier and improve your chances of getting approved.

It’ll be hugely beneficial when it comes to finding the best available deal too. After all, even the smallest difference in interest rates can make a significant impact on the overall cost of a loan this size, and getting the best rate can save you a lot of money.

How do secured homeowner loans work?

When borrowing a sum of £60,000 or more, your lender will insist the loan be “secured” against a property. This essentially means your lender has the right to repossess your property if you fall too far behind on loan repayments. In nearly every way, this type of loan works the same as a second mortgage, although there are no conveyancers needed.

The lender will need to research your finances and the property you’re hoping to secure the loan against. This process will begin with a telephone interview, followed by a formal offer, then a valuation of the property. Your lender will need to obtain permission from your mortgage provider to finalise the loan.

You can expect this entire process to take around three weeks.

Can I get a £60,000 loan with bad credit?

Potentially, yes. Thanks to the reduced risk to the lender that a secured loan provides, your credit score is less of a be-all-and-end-all. Realistically, the very lowest rates being advertised on the market might not be attainable with bad credit, as rates are tailored to the applicant. However, secured loans are a popular way for people with bad credit (and a home) to avoid paying extortionate interest rates.

How much are payments on a £60,000 loan?

Your monthly payments on a £60,000 loan will vary based on both the rate you receive and the length of your loan term. You can compare the payments on different £60,000 loans below.

4% p.a. interest 8% p.a. interest 12% p.a. interest
5-year term £1,105 £1,217 £1,335
8-year term £731.36 £848.20 £975.17
10-year term £607 £728 £861
15-year term £444 £573 £720
20-year term £364 £502 £661

How much does a £60,000 loan cost overall?

4% p.a. interest 8% p.a. interest 12% p.a. interest
5-year term £66,299 £72,995 £80,080
8-year term £70,210 £81,427 £93,616
10-year term £72,897 £87,356 £103,299
15-year term £79,886 £103,210 £129,618
20-year term £87,261 £120,447 £158,556

The loan illustrations above use approximate figures and are based on a fixed interest rate. If you receive a variable rate on your £60,000 loan, your monthly payments are likely to change over time, and you may end up paying more or less depending on how the rate changes. It’s also worth keeping in mind that current interest rates are at historically low levels.

How should I compare lenders?

  • Eligibility criteria. Most lenders publish their basic eligibility criteria online. You should check that you meet these before applying. You’ll definitely be rejected if you don’t meet these criteria and may still be rejected even if you do.
  • Rate. Lenders may advertise a representative APRC, the rate that has to be offered to at least 51% of customers. However, if you’re deemed to be a particularly risky applicant, you may be offered a higher rate than this.
  • Term length. This is the number of months you’ll spend repaying the loan. Loans with longer terms will have lower monthly repayments, but it will cost you more overall due to additional interest charges.
  • Fees. Some personal loan companies charge one-off set-up fees, although these are rare nowadays.
  • Total payable. This is the amount of money you’ll pay over the entirety of the loan. This is the most important factor to consider.

Should I just remortgage?

You can get your hands on a lump sum of £60,000 by remortgaging to pocket some of the equity built in your property.This is most likely to be more cost-effective than a personal loan when mortgage rates are low. To find the best deal, compare the total payable of a remortgage deal with that of your personal loan.

Full guide to remortgaging

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