How to get a £90,000 Loan

For those looking to take out a £90,000 loan, there are a range of funding options available offered by a wide range of lenders.

Consequently, it can often be overwhelming to sift through different loans try to make sense of each option and find the loan that’s right for you. Generally, the most popular loans amongst those taking out loans of £90,000 tend to be homeowner loans (secured loans), where the loan sits as a second charge behind your mortgage.

How much does a £90000 loan cost

This will depend on your circumstances;

With a £90,000 loan, if the purpose of the loan is for personal use, UK lenders will require the loan to be secured.

To be eligible for a homeowner or second-charge mortgage, you must be a homeowner or have an existing mortgage.

Your eligibility will also depend on your income and the affordability of making repayments based on your current outgoings.

Loan Repayment Example

Loan Repayment Example for £90,000

Let’s work through the example of a loan of £90,000 taken out over 15 years (180 months) with an annual APR of 6.1%. We’ll determine the monthly repayments, including both capital and interest.

Loan Details

  • Loan amount: £90,000
  • Annual Percentage Rate (APR): 6.1%
  • Loan term: 15 years (180 months)

Steps to Calculate Monthly Repayments

  1. Convert the annual interest rate to a monthly interest rate:

    \( r = \frac{6.1\%}{12 \times 100} = \frac{0.061}{12} \approx 0.00508 \)

  2. Determine the number of monthly payments:

    \( n = 15 \times 12 = 180 \)

  3. Plug the values into the formula:

    \( M = P \frac{r (1 + r)^n}{(1 + r)^n – 1} \)


    • \( M \) is the monthly repayment
    • \( P \) is the loan principal (initial amount)
    • \( r \) is the monthly interest rate (annual rate divided by 12)
    • \( n \) is the number of payments (loan term in months)
  4. Calculate step-by-step:
    1. \( (1 + r)^n = (1 + 0.00508)^{180} \approx 2.074 \)
    2. \( r (1 + r)^n = 0.00508 \times 2.074 \approx 0.0105 \)
    3. \( (1 + r)^n – 1 = 2.074 – 1 = 1.074 \)
    4. \( M = 90000 \times \frac{0.0105}{1.074} \approx 90000 \times 0.00978 \approx 879.30 \)

Monthly Repayment

The monthly repayment is approximately £879.30.


If you take out a loan of £90,000 over 15 years with an APR of 6.1%, your monthly repayment would be approximately £879.30. This amount includes both the repayment of the loan principal and the interest. Over the 15-year period, you will make a total of 180 payments.

Loan Calculator »

Calculations are based on the interest rate being fixed over the term and no repayments are missed.

Can I get a £90k personal loan?

an unsecured personal loan tends to be more straightforward than other forms of finance. As the loan is unsecured, it does not require you to put an asset (such as your home) down as collateral against the loan.

Personal loans are offered by the majority of banks and other lenders, and you can typically expect to borrow between £1,000 and £25,000 over a relatively short period of time (in comparison to a secured loan). As personal loans tend to be considerably smaller than secured loans. A loan of £90,000 for personal reasons will need to be taken out on a secured basis. As a result, many borrowers look towards secured loans when looking to borrow loans of this size.

Can I get a £90k secured loan?

secured loan is a loan that is protected by an asset or collateral of some sort (usually your home). Secured loans have become popular amongst home owners as they usually offer lower interest rates than unsecured loans.

However, secured loans are also perceived as being a more risky method of gaining finance as if you cannot keep up with repayments, there is the potential for you to lose your home. Homeowner loans are usually preferable when looking to take out larger amounts of money.

It is worth noting that the amount you can borrow, the rate of interest and the loan term is likely to depend on your personal circumstances, market conditions and the amount of equity that you own in your property. Secured loans can be used for almost endless possibilities, provided they are not illegal or for commercial use.

Can I Get a £90,000 Business Loan?

If you are a business owner sourcing finance is typically done on the trading record of the business. Lenders will look at your annual accounts and typically the last 3 to 6 months bank statements in assessing whether they will lend. Unsecured business loans will still often require a director of the business to provide a personal guarantee. Use our loan service to see if your business qualifies for a £90000 business loan. Repayment terms range from 3 months to 5 years.

Can I Get a £90,000 Bridging Loan?

Bridging loans are secured on property, and most lenders in the UK will have a minimum loan size of £25,000, with many starting at £50,000. So for a bridging loan of £90,000 you should have options but talk to a specialist bridging loan broker to see if this option is right for you.

Considerations before taking out a £90,000 loan

It is essential to consider your options carefully when taking out a £90000 loan.

Depending on your personal circumstances, some options are likely to be more suitable for your needs than others. Before committing to a loan, we strongly recommend that you compare the market.

We provide a loan calculator on this site. For secured loans, business loans and bridging loans you should speak to a qualified loan broker who can evaluate your situation and provide you with unbiased, expert advice to make the right decision for you.