Loan Advice

Personal Loans
A personal loan is a lump sum which you borrow from a bank, building society or another lender. A personal loan could be the best option for you if you are looking to borrowing money for between 1 and 5 years and is particularly ideal if you have other debts that you're looking to consolidate into one loan to reduce your overall monthly payments.

Types of personal loans
There are two main types of personal loan - unsecured loans and secured loans. A secured loan has the value of your property set against the amount borrowed. Remember! Your home is at risk if you fail to make payments on your mortgage or other loan secured on it. Unsecured loans are not secured on your property.

Personal loan or re-mortgage?
If you already have a mortgage you could be better off if you choose to add to the value of that loan, rather than taking out a new personal loan. By re-mortgaging you can add to the total sum of the mortgage and gain access to additional finance without paying the higher interest rate of a personal loan.

The downside can be if you have redemption penalties on your mortgage, the cost of re-mortgaging may be greater than the cost of taking out a personal loan.

Credit scoring and eligibility
When you apply, the lender will perform a full credit check on you with credit reference agencies. If you are refused a personal loan it may be because you have had County Court Judgments registered against you in the past, previously declined applications for credit, defaults on payments, arrears on a mortgage, any repossession of property or cancellation of a credit card by the credit card company.

Peace of mind
Payment protection schemes can offer you peace of mind that in the event that you are unable to meet your required loan payments due to accident, illness or redundancy, you loan payment will be covered.

Cover may vary and you should carefully check what the particular payment protection policy or scheme covers (and any exclusions).

Selection of Loan Companies

Only Finance
You can apply online for three types of loans with Only Finance - Secured loans for homeowners - Unsecured loans and loans for anyone who has been refused credit comparing over 150 companies to find the right deal for you.

Central Capital Secured Loans for Homeowners
The Central Capital Loans brand is part of Central Trust PLC, founded in 1987 and is the largest loan broker in the U.K. They offer loan plans from £5,000 to £250,000 to homeowners only.

Homeowner Loans
Easy online loan application secured against your house, you can also select a free gift when applying for a secured loan.

Easy Loans
They offer mortgages, loans and remortgages to UK homeowers and consider all circumstances including CCJ's, mortgage arrears, self employed with no proof of income and zero / negative equity.

Secured Loans
Only Loans.co.uk offers its customers a Secured Loan with nothing to pay for the first 5 months. Loans.co.uk are the UKs fastest growing credit broker. We have over 300 staff arranging thousands of loans every day.

Hour Loan
24 Hour Loans is one of the country's leading internet loan brokers. Our professional and experienced staff respond quickly to customer enquiries and work hard to find our customers the best possible deal.

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