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Hello, I asked a friend about large personal loans and they referred me to you. I’m looking for a £45,000 loan to cover some home improvements – specifically a new conservatory – but haven’t had any luck with my bank as they seem to be able to lend no more than £25k. Could you give me an idea of whether this is something you can do? I’d also like to know how much I’ll need to repay each month on a £45,000 loan as I’d like to keep monthly payments under £1000 if possible.

Hi Gary. Thanks for getting in touch!

Your problem is a common one, as many banks cap their large loans at £15,000 to £25,000 – but this can be understandably frustrating, especially as remodelling your home can cost a great deal more than that, depending on the work you’re looking to have done.

Thankfully, we’re able to offer large personal loans up to a maximum of £100k, meaning your £45,000 loan shouldn’t be a problem! We offer loan terms between 12 and 120 months, meaning you can spread your repayments for lower monthly instalments. If you’d like to keep your monthly repayments below the £1000 mark, though, a term of at least 62 months is recommended (assuming you have a good credit score). Based on a Representative APR of 13.9%, you can repay your £45,000 loan over 62 months with a repayment plan based on £997 a month.

Adding a new conservatory to your home could add as much as 11% to the sale price, making this an entirely worthwhile investment in the long run. If you’re interested in applying, you can give our team a call on 0800 266 2882 or apply now for a decision within the hour.

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