20k Loan | What Are The Payments On A £20,000 Loan?

The payments on borrowing 20k will vary on a number of factors, these include the length of the loan term you choose, as the longer the term the less you will pay back each month, but the greater you will pay over the term of the loan. Another important factor is your credit rating, if you have a history of missed payments, CCJ`s or other negative markers on your credit history the loans offered by many lenders may be at a higher interest rate than those with an excellent credit rating.

It is important to note that as a loan broker My Sort Of Loan have a large panel of lenders with loan plans to suit most circumstances. When you enquire to My Sort Of Loan one of our specialised loan advisers will compare the different plans and find the one that best suits your individual circumstances. Once you are happy we will give you a number of options for borrowing £20,000 that make the monthly repayments affordable for your budget.

My Sort Of Loan is a leading UK finance broker, with high standards of integrity, trustworthiness, and service. We bring you all of the best loan options from the top lenders on our panel and specialize in residential homeowner secured loans.

What sets My Sort Of Loan apart? As a well-established business we work with many of the UK`s most respected lenders. We follow through on our promises and our commitment to service and are always happy to help or answer questions you may have.

Our lenders loans can be used for virtually any purpose. Perhaps you would like a new bathroom, an extension or even a conservatory? Funds can also be obtained via a home loan to help with education costs, a business start-up or even a once in a lifetime special holiday.

A flexible approach to home owner loans can help to recognise the varying circumstances which affect nearly everyone at some stage during the repayment period - particularly fluctuations in earnings. We use secure and reliable lenders to achieve the best solution for you, from consultation to completion. To help you find the most suitable type of loan contact us for an initial discussion.


You Can Apply For A 20k Home Loan Even If You Have A Few Adverse Items On Your Credit Search.

We have a number of lenders who understand that many people find themselves with negative items on their credit profile, these lenders can help you borrow the money that you need at an affordable interest rate. Even if you have been declined by other lenders, we still may be able to help, so enquire online or give us a call to receive a personalised quote for borrowing £20,000

Our advisers understand that arranging a secured homeowner loan may seem a little daunting at first. We are here to help you and will openly address those concerns many people have when considering a long term homeowner loan.

The lenders we use are secure and reliable, some you may recognise others may be less familiar, this is because they supply mainly through professional finance intermediaries, such as ourselves. When deciding whether to proceed with a loan you should think about how you meet the repayments in case of unemployment, serious illness or the loan extending beyond your lifetime.


Secured Loans vs Unsecured Loans

Many unsecured loans have a borrowing maximum of around £15,000 and terms of up to 7 years. Although some lenders may offer up to £25,000: if you have a very good to excellent credit profile you may qualify for these large unsecured loan amounts and so may wish to try these first. However, if you are looking to borrow £20,000 a secured loan may be a suitable option, especially if you have negative marks on your credit history, a low credit score or want to spread the loan over a longer term.