£40,000 Loan

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When you want to get a £40,000 loan at the best rates possible, at Personal Loans Now we can help you find them. Our easy to use application compares 40+ direct lenders. A secured £40,000 loan can be approved online and deposited to your bank account on the same day if approved. Click apply now, and we’ll send you a personalised table of offers with £40,000 loans that match your requirements.

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How Do I Get a £40,000 Loan Online?

Finding a £40,000 loan online can be time-consuming if you’re not sure where to begin. Whether you need a £40,000 loan for home improvements, a car purchase or even a dream holiday, we can help search the market. This will make things much quicker and more convenient using our online service. Our credit on demand system will present you with 40+ lenders who are best placed to help you get a £40,000 loan. Enter the repayment terms you want, and we’ll quickly provide a personalised table of loan offers. The best part about it is you won’t need a credit check to view the offers available to you. This means you can review the lenders without worrying about your credit score being impacted.

How Can I Be Eligible for a £40,000 Loan?

To be eligible to apply online for a £40,000 loan, you’ll need to meet the following minimum requirements:

  • You are 18 years of age or older
  • You have a UK bank account
  • You are a current UK resident
  • You have a regular source of income from benefits or employment

Meeting the above criteria does not guarantee you’ll be accepted for a £40,000 loan online. You’ll still need to pass through a credit check and assessment of your affordability. As responsible lenders, we need to ensure the loan is right for you and that repayments won’t become a struggle. As it is a secured loan, you’ll need to consider the risks involved. You’ll also need to provide details of personal assets to support the application. If you have any questions about the application or eligibility, please contact us. You can speak to our friendly and knowledgeable customer service team who are happy to help.


£40,000 Loan with Bad Credit

£40,000 Loan with Bad Credit

If you have bad credit, you may still be able to apply for a loan through Personal Loans Now. However, the rate of interest may be much higher and repayment terms shorter, depending on your situation. We recommend that you carefully consider this before applying for secured borrowing. You’ll need to offer collateral that may not be possible if you’re currently in a bad credit situation.


We consider your whole finances as part of the approval process. Even if you have bad credit, we’ll look at your affordability as well as your credit score. You’ll need to ensure that your income can match the loan repayments you want. Otherwise, you risk affecting your credit score further. You should work out your income and outgoings before applying for a loan. This is because you’ll be able to see your disposable income and determine your affordability. You’ll need to consider if you’re happy to pay a higher rate of interest if you are approved for the £40,000 loan.


Why Choose Personal Loans Now to Apply for a £40,000 Loan?

There are many good reasons to compare £40,000 loans with us as well as the convenience of applying online. We’ll give you a personalised table of offers without a credit check, with other great reasons including:

  • Fully Online Application – you can apply for a £40,000 loan completely online from start to finish. No waiting for paperwork to be sent and signed.
  • High Acceptance Rates – we are proud of our high approval rates, with 50,000 loans already approved for applicants just like you.
  • Low APR Rates – we search the market finding secured loans at the lowest APR rates you’ll find anywhere.
  • Instant Approval – you will receive a decision in just 90 seconds.
  • Same Day Funding – once you are approved, the lender will credit your bank account on the same day.
  • FCA Authorised Lenders – we connect you with FCA authorised lenders who follow strict guidelines. All lenders offer responsible lending online.

Need a £40,000 Loan?

Get Your Loan With Personal Loans Now


A secured loan can help you achieve many things. At Personal Loans Now, we can help you find the best deals available. We’ll make it quick and easy to apply for a £40,000 loan that works for you. Click apply now, and we can get started on helping you today.

£40,000 Loan FAQs

What is a Secured Loan?

Secured loans allow you to borrow higher amounts of money, with the loan attached to a personal asset. Secured borrowing would commonly be a mortgage due to the costs involved with buying a property. A mortgage loan allows you to borrow money against the cost of your home. A £40,000 mortgage loan, for example, can help you with home improvements. This can be a useful way to borrow money that otherwise would be difficult to obtain. Secured loans with us give you the opportunity to borrow up to £250,000, as long as you have the collateral. If you would prefer unsecured borrowing instead, we can help you borrow between £1,000 and £25,000 with our personal loans.

What Happens if I Can’t Make Repayments on a Secured Loan?

If you miss repayments on a £40,000 bank loan, you risk the asset used as collateral being claimed to clear the arrears. A lender can take legal action if repayments are regularly missed or arrears have mounted up. You’ll need to contact the lender at the earliest opportunity to avoid this happening to you. Most lenders will be able to agree on a suitable time frame to pay arrears without any legal action. You’ll need to ensure you fully understand the risks involved before applying for a secured loan.

What Interest Would I Pay on a £40,000 Loan?

If you want to see how much interest you could be paying on a £40,000 loan, use our handy secured loan calculator. You’ll be able to see exactly the repayment terms for this loan amount as well. We charge a fixed rate of 39.7% RAPR (representative annual percentage rate). However, some lenders may charge a higher amount of up to 99.9%, which can either be at a fixed or variable rate. A fixed rate can offer you a consistent repayment, as you’ll know how much interest you will pay at the start. A variable rate can increase and decrease throughout the loan term, much like interest on a credit card. You should carefully check the rates of interest available to you. This is so you can make the best decision for your situation.

Can I Repay a £40,000 Loan Early?

If you find yourself in a position you can repay a secured loan quicker than planned, you should contact the lender. You’ll be able to check your credit agreement to see if any charges are applicable. In most cases, you’ll be able to repay a loan early. For example, if you sell the secured asset, you could use the available funds to clear the loan.

Can I Get a £40,000 Loan Whilst in Financial Difficulty?

If you’re currently in financial difficulty, we do not recommend that you apply for further borrowing. If you apply for a £40,000 loan, your credit rating will be negatively impacted if you have a high amount of debt. We recommend seeking impartial financial help from one of the free to use companies. Citizens Advice or the Money Advice Service, are able to offer you the help you need. If you’re in financial difficulty, you’ll want to consider your options to help you in the long term.

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