£1,000 Loans
When £500 would only cover part of the cost. Borrow £1,000 and spread it over a longer term, with the same fixed repayment every month.
- 12–18 months is the usual term
- Fixed monthly repayments
- Soft search to get a quote
When £500 isn't enough
The point of borrowing £1,000 rather than £500 is to deal with the whole cost, not just part of it. Borrowing too little can leave you with the problem half-fixed – and looking for a second loan a few weeks later. People usually come to us for £1,000 for things like:
A bigger car repair
A clutch, a gearbox or a failed MOT with several faults – the kind of bill where £500 only gets you halfway.
Several bills at once
When two or three unexpected costs land in the same month and you'd rather deal with them together.
Replacing more than one thing
A major appliance, or a few smaller household items that have all given up around the same time.
Moving or an urgent housing cost
A removal van, a deposit gap or an essential repair to the place you live.
Equipment for work
Tools, a laptop, a licence or a course that keeps you earning.
Why £1,000 is harder to get than £500
Lenders don't treat every amount the same. A £1,000 loan is a bigger risk for them than a £500 one, so they set a higher bar and want to see a more convincing picture of how you'll afford the repayments. In our experience, the difference is big:
Our own estimate from the applications we see – not a promise, and every lender decides for itself.
How to give your application the best chance
You can't change a lender's rules, but you can make sure they see an accurate picture of your situation:
Work out your budget first
Add up what comes in and what goes out each month. If the repayment won't fit comfortably, a lender will see that too.
Give accurate figures
Lenders check income and spending against your bank and credit records. Honest numbers are what get loans approved.
Keep your details steady
Use the mobile number, email and address you've had longest. Frequent changes can make lenders cautious.
Ask for what you need
If £600 would really cover it, apply for £600. If it really takes £1,000, don't borrow less and end up short.
What £1,000 could cost you
The cost depends on the lender and on how long you take to repay, so we don't quote example prices – your lender will show you the exact cost before you agree to anything. If your loan counts as high-cost short-term credit – broadly, an APR of 100% or more, repaid or mostly repaid within 12 months – it's covered by the FCA's price cap, and on £1,000 that means:
Not every loan is covered – for example, one with an APR under 100% – so check your loan agreement. Either way, lenders must still check that you can afford the repayments and treat you fairly, and your loan agreement will show the total you'll repay. Most people spread £1,000 over 12 to 18 months. A longer term makes each payment smaller, but you pay interest for longer, so it costs more overall. Pick the shortest term whose monthly payment you can comfortably afford.
Is borrowing right for you?
A £1,000 loan is for a one-off cost, not for everyday bills or to repay other borrowing. If you're already finding it hard to keep up with what you owe, speak to those lenders first, or get free, confidential advice from MoneyHelper.
Need less? See our £500 loans. Want to spread a larger amount? Read about 12 month loans, or compare all our loans.
Representative example: £1,500.00 borrowed for 12 months. Monthly repayment is £154.12, total repayable is £1,849.47. Total cost of credit £349.47. Representative 49% APR. Credit broker not a lender. All loans are subject to status and only available to UK residents over the age of 18. Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk
Need £1,000?It only takes a few minutes, and checking won't affect your credit score.
Apply Now