Loan Calculator – How much can I borrow?

When it comes to borrowing money, no matter the reason, one of the things that you are likely to want to consider is how much money you can actually borrow.

Whilst many people think it is simply a case of entering how much you want and then being given the money, this isn’t always the case. In order to calculate your borrowing amount, the lender will look at your personal details, your risk factors and of course your credit rating.

Not only this, but one of the most important things to think about is your affordability to make the repayments back on what you borrow. The last thing that the lender is going to want is to lend money to someone who then cannot pay it back. They want to ensure that repayments, and of course the sum of money that has been lent, is paid back over the period of time that was set out in the initial application.

How much can I borrow?

What can you afford to repay each month (£)? 
What’s the interest rate (APR%)?
How long do you want to borrow for (months)?


If you only want to pay off your loan in a short term, then you may find that the amount of money that you can borrow is lower. This is to ensure that you can make the repayments that you need in order to stop yourself falling behind.

Of course, if you are able to borrow over a longer period of time, then you are likely to find that the amount that you can borrow will raise, after all, this means that you will have more time to pay off this larger sum.

When it comes to loans, they are designed to offer a short term lending solution. You may find that that this means that the amount that you can borrow is much lower than some of the other forms of loans that you can take out.

Whilst you may prefer to borrow the higher amount, you should always remember to borrow the amount of money that is right for you. That you can pay back with ease and that won’t land you in some financial difficulty.

So, if you need some cash in a hurry, but not sure how much you can borrow, then check out our loan calculator to see how much you might be able to borrow.