Whatever your reason is for seeking a loan for £4,000, it’s important not to panic and accept the first offer you get; it might not be the right deal for you!

If you’re finding it difficult to get credit from your bank, 118 118 Money can help find you the best financial solution to suit you. What’s more, we’ll keep your offer valid for up to 5 days, meaning you can shop around to find the best deal before you make the commitment.

How can I use a £4000 loan?

Whilst you can use the money any way you wish, it’s important that you use it responsibly. A loan for this amount is usually used to cover emergency costs, a small home improvement such as new windows or bathroom tiles or to buy a reliable used car.

It’s important that we understand your reason for borrowing in order to get a better idea of your application. Taking out a loan is a financial commitment and shouldn’t be taken lightly, therefore it is vitally important to do your research about each lender and know exactly how much you can afford to take out and repay in monthly instalments, with interest.

You can try our budget planner and loan calculator to give you a better idea of your financial situation before you consider applying for a £4,000 loan.

A guide to your £4,000 unsecured loan

An unsecured loan simply means that your loan is not secured against any asset such as your car or house, so if you fail to keep up with your monthly repayments your assets will be safe, however you will risk lowering your credit score if you are unable to keep up with them and could cost you in fees, depending on the lender.

Luckily, at 118 118 Money we will always consider whether you’ll be able to comfortably afford the fixed monthly repayments before offering you a loan. Whilst some lenders only look at your credit profile, we look beyond it and review each application carefully.

We understand that it can be difficult to get credit from the banks and other lenders if you have less than perfect credit, which is why at 118 118 Money we are here to offer an alternative solution. Our unsecured personal loans can be repaid in 12, 18 or 24 month fixed repayments, so you’ll know exactly how much you’ll pay back each month.

Applying for a £4,000 loan

Before applying for a £4,000 loan, try our no-risk eligibility QuickCheck. Our QuickCheck will give you an indication of how likely you are to receive a loan from us, without affecting your credit rating. Once you find out that you are eligible with QuickCheck, simply decide to apply to receive an instant decision.

In order to apply for a £4000 loan, you’ll need to be aged between 18 – 70, have a monthly income of more than £700 and have a current UK bank account.

During the application you will need to provide your:

  • Full name
  • Contact details
  • Address history for the past three years
  • Income and outgoings.

You will also need to check that you are happy with the interest rate and the specified monthly repayments. The APR you are offered will be based on a number of factors such as your financial history and the amount of money you are looking to borrow.

If your loan application is successful and we do not require any additional information to finalise our decision, you could have £4,000 in your bank account within just 24 hours. We’ll also set up a direct debit mandate, so that we can collect your fixed monthly repayments.

N.B. A £4000 loan with 118 118 Money is only available at 35.9% APR.

Representative example: Amount of credit £1,800 for 24 months. Interest rate: 71.3% pa (fixed). 24 scheduled monthly payments of £142.65. Total amount payable: £3,423.67Representative 99.9% APR. 

Rates from 35.9% APR - 99.9% APR fixed.