Loan repayment calculator

First Choice Finance give advice upon and recommend secured loans and mortgages from our panel of lenders. We do not advise on personal unsecured loans. If you are interested in a personal unsecured loan we suggest you try your bank or building society first. If you wish we can refer you to an associate company who can look at their unsecured lenders for you. They are a loan broker, they are not a lender. Use our simple loan calculator to get free figures on loans from £1,000 to £150,000 at any rate you want to check. No credit search is needed for the calculator, so whether you are seeking a larger secured loan of up to £150,000 or a small loan from £500 this could help you get an idea of the amounts involved.

Find out the monthly cost of your loan and see the total amount payable at different APR`s. Change the loan amount you would like (in pounds), the term of your loan (repayment period in years) and the interest rate (in percentage to one decimal place) to understand how the payments will change. Money borrowed can be used for virtually any purpose. We have been arranging secured loans and mortgages for over 25 years. If you want to get a calculated personalised no obligation free quote for a secured loan scenario give our loan team a call on 0800 298 3000 (free phone) or 0333 003 1505 (mobile friendly), alternatively put your contact details in the calculator above or complete our shorton line enquiry form. Our lenders loans are only available for homeowners.

Loan Rates Calculator

The interest rate on your loan will depend on your individual circumstances, those with a good credit history could find themselves with a low interest rate loan, but some loan providers consider many different aspects of applicants, so even if you have some credit blemishes you may still qualify for a decent rate. Our loan calculator allows you to try various loan rates so you can see the difference in monthly repayments and total cost of the loan over the full term (if the loan is repaid early this would significantly reduce the total cost of the loan)

Bank Loan Calculator

If you have already received a quote for a bank loan please feel free to use our calculator to compare your bank loan with other loan plans or just to see what else you may want to apply for instead. Our free loan calculator can be used to try out many different scenarios. Please bear in mind that by extending your loan term you could reduce your monthly repayments but may well increase the total amount repayable. First Choice Finance has been arranging loans for around 25 years and is a UK Finance & Credit Intermediary with access to many lenders, some of which do not deal with the public directly. Therefore we can help in a variety of different circumstances including those who may have had trouble getting a loan from a bank in the past.

Home Loan Calculator / Secured Loan Calculator

First Choice Finance specialise in finding loans for home owners and mortgage payers, these are often in the £10,000 to £50,000 range spread over 5 to 15 years, but larger loans of up to £100,000 over longer loan terms up to 25 years are also available. Using our calculator as a secured loan calculator allows you to try various different amounts / terms and interest rates to see what the cost of a loan may be.

Car Loan Calculator

There are not many of us who get through life without taking out a few car loans along the way. Even the motorbike riders and van drivers will probably need to use some vehicle finance along the way because these are quite major purchases. Fortunately loans from First Choice Finance can be used for almost any purpose including van, motorbike, chattel (caravans) or car finance. You may want to compare the finance options offered by a car dealership to a loan from your bank - you may find it cheaper than you thought.

Bad Credit Remortgage Calculator vs Loan Calculator

Lenders in the UK mortgage, secured loan or and personal loan market all have their own quirks as to which market area they are after. However all of these to some degree are likely to have a significant element of rate for risk. This can simply mean that a lender has a higher rate of interest generally because it seeks out people with a bad credit history and therefore expects a higher default rate, in effect those that do pay compensate for those that do not. Other lenders have multiple tiers of products and calculate which rate you qualify for based on your credit history, income, employment and residential history amongst other factors. The concept here is all about lenders offering you a rate that is lower the less risk `they` perceive their money will be at of not coming back to them if they lend it to you. Because remortgages offer a very high level of security to the lender, in that subject to equity being available in the home secured on, a lender can seek possession to recover it`s monies from you - it then follows that a bad credit remortgage can be the lowest form of borrowing (in terms of rate) you would see compared to a loan calculator for a given amount if you qualify for that route. The clear negative aspect is that the security offered by you ultimately means you are putting your home on the line if you do not pay the mortgage back in full.

Calculate cost of a secured loan

Using a secured loan calculator can be very handy if you`re thinking of consolidating your debts, but it`s also useful if you`re using your homeowner loans for other reasons too.

Bear in mind secured loans are there for homeowners and mortgage payers to borrow money for almost any purpose.

When you`re considering debt consolidation, the main thing that you want to do is reduce your monthly outgoings so that you`ve got a bit more financial freedom and a bit less stress.

With this in mind, you need to know that the secured loan you take out will mean paying back less each month than your existing unsecured, loan or credit card debts you wish to clear.

That`s where the secured loans debt consolidation calculator can help, as it`ll let you enter your current outgoings on things like car and credit card repayments, as well as the total you need to pay back.

You can then adjust the debt consolidation loan amount, interest rate and the length of time you`ll be paying it off until you`re happy with the repayment total.

The loan calculator will show you how much your payments could be reduced by taking out a secured loan at a given rate, but you need to bear in mind that you may end up paying back more over the course of the loan if you choose to pay it back over a long period.

The key is only borrow what you need and can afford to repay.

Of course, you don`t have to use a secured loan to refinance your debts – you may wish to borrow from £10,000 up to £150,000 to pay for something else; like remodelling your home so that it becomes more practical for you to use or perhaps adding extra rooms with a view to adding value when it comes to sell or in light of the family expanding.

Whatever you plan to use your homeowner loan for – either check out the secured loan calculator alternatively, call us from a landline on 0800 298 3000 or 0333 003 1505 on your mobile.
 

Homeowner Secured Loans 9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest)..

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.