Large Personal Loans
Are you in need of large personal loans to help you afford that one thing you have in mind? Large personal loans enable you to not only get a larger loan but also give you a longer repayment period meaning you can afford what you are required to repay.
Simple Personal Loans can help send your application to multiple lenders to help you get what you need.
What are Large Personal Loans?
Large loans refer to borrowing sums of money that exceed £25,000. Luckily for you, we offer loans up to £35,000. Personal loans are usually unsecured loans meaning they have no security or collateral. For example, with a secured loan the lender could seize your property if you fail to keep up with your repayments.
How do Large Personal Loans work?
Once you’ve applied, your application will receive an informed decision within 10 minutes. Usually, people receive their loan on the same day or the following working day. Although, it could take longer depending on the time and day you apply.
Like most loans, the repayment is split into smaller monthly instalments. Larger personal loans can be paid back anytime between 1 year and 6 years to give you plenty of time.
What can I use my Loan for?
These type of loans tend to be for things which cost a large sum of money. This could be things like home improvements, weddings, consolidating debts, cars, or other loans. Although, they are just examples and personal loans can be used on whatever you want, hence the name. But we do advise that you are careful and make sure you know everything possible about loans before you apply.
What happens if I miss a payment?
Before you apply for a large personal loan you should ensure that you will be able to repay the loan. On websites like ours, you will find a loan calculator which you can use as a guide to give you a rough idea of how much you will repay for your desired loan.
Missing a payment can cause serious money problems. All lenders have a late repayment policy, it is usually a £15 penalty and up to 0.8% interest per day. Along with this, it can impact your credit score massively. But, this can be different for all lenders. So, if you are unable to repay your large loan, you should contact your lender immediately.
Large Personal Loans upto £35,000
For loans with values of around £35,000 or more, your lender will probably want to secure the loan against something valuable. That could be your home or your car, this way they know they’ll get something back if you stop paying.
Simple Personal Loans offer loans from £1,000 to £35,000 to ensure you’re getting the amount which you need. Our unsecured loans are simple – they’re a loan which has no security or collateral.
Applying for a Loan
If you’ve come to the decision that you’re interested in taking out a personal loan, be sure you meet the eligibility criteria. We ask that applicants are over 18 years old, are employed and live in the UK. As well as this, we ask for your personal and employment details. So, don’t wait up and being your loan journey today!