Get a £70,000 personal loan with the best rate

Boost your chances of being approved for a £70,000 loan and find the best loan rate.

Last updated:

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.

A £70,000 personal loan can make a dramatic impact on your day-to-day life, perhaps by funding home improvements or consolidating existing debt.

To get your hands on a loan of this size, you’ll need to be a homeowner and willing to “secure” your loan against your property. This gives the lender the right to repossess your home if you fall too deep into arrears on your loan repayments.

This guide offers tips on being approved for a £70,000 loan and finding the best deal available to you.

Homeowner loans comparison

Table: sorted by overall cost for comparison (representative APRC)
Updated December 7th, 2019
Name Product Maximum LTV Loan amounts Loan terms Overall cost for comparison
65%
£50,000 to £500,000
5 to 25 years
3.8% APRC
65%
£10,000 to £500,000
3 to 35 years
3.9% APRC
65%
£50,000 to £500,000
5 to 25 years
4% APRC
65%
£10,000 to £2,500,000
3 to 25 years
4% APRC
70%
£50,000 to £500,000
5 to 25 years
4.1% APRC
65%
£10,000 to £500,000
3 to 25 years
4.1% APRC
65%
£10,000 to £500,000
3 to 25 years
4.1% APRC
70%
£10,000 to £500,000
3 to 35 years
4.2% APRC

Compare up to 4 providers

Overall representative example
If you borrowed £40,000 over a 14-year term at 8.8% p.a. (variable), you would make 168 monthly payments of £461.49 and pay £77,530.32 overall, which includes interest of £33,040.32, a broker fee of £3,995 and a lender fee of £495.00. The overall cost for comparison is 11.3% APRC representative.

How do secured/homeowner loans work?

Lenders can mitigate their risk against borrowers falling into arrears by asking for personal assets to be put up as collateral. This is called a secured loan.

For personal loans as large as £70,000, lenders will only offer secured loans with a property put up as collateral. These loans therefore work in a similar way to a second mortgage, although there are no solicitors required. Lenders tend to be more lenient about who they’ll offer secured loans, compared to unsecured loans.

When organising this type of secured loan, lenders will arrange a telephone interview after you’ve submitted your online application. If you’re approved for a loan, you’ll be issued a formal offer, subject to a valuation of the property.

The valuation may require permission from your mortgage lenders, and for someone to inspect your home. You can expect the entire application process to take around three weeks.

Ready to compare lenders?

With a £70,000 loan, the difference between applying for the best available deal and the rest can make a significant impact on your finances. After all, you’ll most likely be paying interest on a sizeable amount of money for 10 years or more.

The interest rates advertised shouldn’t be all you consider though. Below is a list of the factors worth comparing.

  • Eligibility criteria. You should be able to find a lender’s basic eligibility criteria online. It may include the documents you need to provide, the type of employment and the minimum earnings/equity in your home. If you don’t meet this criteria, there’s little point in applying.
  • Rate. The lender will advertise its “representative APR”, which is the rate that has to be offered to at least 51% of customers. However, if you’re deemed a particularly risky applicant, you might be offered a higher rate than this.
  • Term length. Your loan repayments will be split over a set amount of months. Loans with longer terms will have lower monthly repayments but will cost you more overall due to extra interest charges.
  • Fees. Many secured loan companies charge one-off arrangement fees paid at the start of the term. These are usually bundled in with the loan amount and repaid over the same term.
  • Maximum LTV. Lenders want to keep their lending relative to the property being used as security, so they consider the “loan to value” ratio, and will always specify a maximum for this figure.
  • Total payable. 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 access £70,000 (or more) of your home’s equity by remortgaging. This is an alternative to a personal loan, which can work out cheaper, especially when mortgage rates are low. It may be possible to remortgage with a brand new mortgage provider too. Compare the total payable of both options to discover which is best for you.

See our full guide on remortgaging

£70,000 loan calculator

This tool is designed to help you estimate the monthly and overall costs of borrowing £70,000. You can adjust the duration of the loan and the interest rate to get a better idea of what would be affordable. Our calculations don’t take into account any fees involved. Refer to your loan agreement for exact repayment amounts, as they may vary from our calculations.
Interest rate


Loan term


Your loan would cost around £ each month and £ overall.

£70,000 loan illustrations

Interest rate of 7% fixed p.a.Interest rate of 9% fixed p.a.Interest rate of 11% fixed p.a.
10-year loanMonthly: £812.76
Overall: £97,531.12
Monthly: £886.73
Overall: £106,407.65
Monthly: £964.25
Overall: £115,710.01
15-year loanMonthly: £629.18
Overall: £113,252.36
Monthly: £709.99
Overall: £127,797.59
Monthly: £795.62
Overall: £143,211.21
20-year loanMonthly: £542.71
Overall: £130,250.22
Monthly: £629.81
Overall: £151,153.96
Monthly: £722.53
Overall: £173,407.65

Frequently asked questions

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.

Was this content helpful to you? No  Yes

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