Improve Financial Position with £70,000 Loan

Acquiring a £70,000 loan opens the door to diverse financial possibilities, thanks to an extensive array of lenders.

Navigating through the multitude of loan options can be a daunting task, as each alternative presents its own intricacies. Popular choices for those seeking a £70,000 loan often revolve around homeowner loans, where the loan assumes a secondary position behind your mortgage, providing a secured option.

Determining the cost of a £70,000 loan

Expenses are contingent on individual circumstances. If you possess an outstanding credit score, you may be eligible for a premier personal loan rate.

Securing a £70,000 loan with less-than-ideal credit

Approval for loans becomes more challenging with a low credit score. Nonetheless, secured loans provide lenders with assurance, as they can reclaim their funds in case of default. Consequently, having bad credit doesn’t necessarily impede obtaining a £70,000 loan, although a higher interest rate might be offered. Notably, while some lenders shy away from borrowers with poor credit, others specialise in catering to this demographic.

How much will a £70,000 loan cost?

Several factors influence the expense of your £50,000 loan, such as:

  • The duration for which you intend to borrow the funds.
  • The interest amount is contingent on your financial standing, credit score, and the collateral involved, particularly for secured loans.
  • Opting for an extended loan term reduces monthly payments but increases the overall interest paid.

Use our loan calculator to gauge the comprehensive cost of your substantial loan.

How do our loans work?

Get the upfront funds you require with a loan and enjoy the flexibility of repaying it over time. Whether you’re planning a unique getaway, eyeing a new vehicle, or dreaming of a modern kitchen, a personal loan can bring these aspirations within reach at a more manageable cost.

Eligible for UK residents aged 18 and above, loan rates are contingent on factors such as the loan amount, duration, and individual situations. Approval is subject to status.

Our range includes unsecured personal financing options, ensuring that if we extend a loan to you, it won’t be tied to your residence, vehicle, or any other assets. This gives you the freedom to allocate the funds towards your specific needs.

  • Choose a loan term ranging from 12 to 120 months, depending on the loan amount and purpose. Keep in mind that certain loan purposes may have a capped maximum repayment period.
  • Select the precise amount you require, whether for substantial expenses or minor ones. We cater to various needs and allow you to be precise about the loan amount, down to the last pound.

Utilise our loan calculator for an estimated cost based on your desired loan amount and term. Keep in mind that the actual interest rate may vary depending on individual circumstances.

What is the timeline for receiving my financing?

Upon approval, you’ll be sent crucial documents within a week. Thoroughly review, sign, and send them back to us.

For online applications, an instant decision awaits you. If deemed eligible, you can electronically sign the financing agreement. Subsequently, we employ Faster Payments to seamlessly transfer the funds directly to your bank account.

Upon satisfactory review of the provided information, your loan will be officially sanctioned, and the funds will be seamlessly deposited into your designated bank account.

Payment breaks

Ease the burden by delaying the commencement of your loan repayments, especially when facing additional expenses. When applying for a loan, you may qualify for a deferred payment option before initiating your monthly repayments.

This grace period is exclusively applicable at the outset of your loan. If your request for this feature is approved, the initial payment will be deferred until the third month following the loan’s issuance.

During the payment deferment, interest will accrue, and the overall loan duration will be extended by two months, resulting in an additional two months’ worth of interest payments. Please carefully review your offer documentation for a comprehensive understanding of the terms associated with the payment deferral.

How the loan will be paid back

Your monthly installment is conveniently handled through a direct debit from the account where the loan is credited. The inaugural payment is scheduled for one month after the loan is issued, aligning with the date you specified in your application.

Predictable payments – Rest assured, all loans from our institution come with fixed rates. This implies that your monthly direct debit payments will remain consistent throughout the entire loan tenure, ensuring a straightforward and uncomplicated repayment process.

Consequences of late payments – In the event of a delayed payment, a fee of £12 will be levied each time, along with an additional £12 if a default notice is issued.

Early loan repayment option – Certainly. You have the flexibility to settle your loan ahead of schedule. However, opting for early repayment incurs a charge equivalent to up to two months’ worth of interest.

Credit checks

When you apply for a loan, we will conduct a credit reference check, and a credit score will be created based on the information you provide and your credit reference information. This will assist us in determining whether or not we can lend to you. We will then notify you of the decision and the status of your application.

How APR & the annual rate of interest works

The annual percentage rate (APR) signifies the comprehensive expense of borrowing, expressed as a percentage of your outstanding amount, spanning a year. Computed from the annual interest rate and inclusive of any initial fees, the APR provides a means to evaluate and compare the expenses associated with various loan and credit propositions.

Meanwhile, the annual interest rate represents the proportion of interest applied to your loan amount, expressed as a percentage, over the course of a year.

How long can you take out loan for with Donkey Finance?

Choosing the right type of loan significantly impacts the timeframe and feasibility of financial commitments. Each loan type—bridging, mortgage, and development finance—serves distinct purposes and thus the loan term typically varies depending which product is chosen.

Bridging Loans
Bridging loans are designed to provide short-term financing solutions for individuals or businesses looking to secure property quickly, typically within 0 to 24 months, though usually offered for 12 months.

Secured Loans
Secured loans are backed by collateral such as property or assets, offering lenders security in case of default, making them suitable for longer-term financial commitments. Most secured loans are offered for over 5 years; simply use our payment calculator to work out your monthly payment, along with the interest rates attached to the loan you take out.

Mortgages are long-term loans used primarily for purchasing property, commonly structured over 10 to 30 years in the UK, allowing borrowers to spread out repayments and manage costs effectively. Borrowers can utilise mortgage calculators to estimate monthly repayments based on interest rates and loan terms.

Getting a loan if you have bad credit

Donkey Finance specialises in helping individuals secure loans even if they have a history of bad credit. Donkey Finance aims to find suitable loan options that meet their clients’ needs. Individuals with bad credit can still access competitive loan rates and flexible repayment terms. Whether for personal expenses, debt consolidation, or business ventures.

Loans for the self-employed

We recognise the challenges faced by self-employed individuals in traditional lending environments and we aim to provide accessible and competitive loan solutions that empower self-employed individuals.

An example of our £70,000 loan:

Loan amount


Monthly repayments


Length of agreement

120 months

Total amount repayable



3.9% APR

Fixed Annual Rate of Interest (nominal)


The above example is indicative for those with good credit.
The rate displayed is for illustration purposes only and could change when provided a quote for your loan.
View information about other popular requested loan sizes:

The UK’s most popular loan amounts
£15,000 loan £50,000 loan
£20,000 loan £60,000 loan
£25,000 loan £70,000 loan
£30,000 loan £80,000 loan
£35,000 loan £100,000 loan
£40,000 loan £150,000 loan
£45,000 loan £200,000 loan