Loan Information on All Loan Types
Loan Information – All about Short Term Loans, Installment Loans, Homeowner Secured Loans and Guarantor Loans.
Short Term Loan Information
Short Term loans can be a good idea if they are used properly and as they were originally intended for use. It is true that the APR rates are extremely high if looked at on their own, but short term loans were never intended to be spread over years.
The ideal use of this product is better over a few months, as then you know exactly the costs and fees involved and you can budget for paying the full amount back.
Short Term loans are for unexpected emergencies and should only be entered into in the knowledge that you can pay the loan back in full by the original period agreed.
Installment Loan Information
These are installment loans for higher amounts and they can be spread over longer periods, typically 1 year to 5 years. The APR interest rates are much lower than payday loans and can also be referred to as unsecured loans or personal loans. Some bad credit or adverse credit is allowed.
We use lenders that will accept new loan applications from people with all types of credit backgrounds including having bad credit and a low credit score.
Homeowner Secured Loan Information
As the title suggests, this type of loan would be for a person who owns property with equity in it, so as the loan is secured on the home or property as a second charge.
Rates are normally a lot cheaper and you can borrow from £5,000 to £2,000,000, providing there is enough equity in the property and you can prove you have enough income to repay the loan.
The secured loans can be secured on home, Buy To Let rental properties or commercial property. Some bad credit is allowed.
Guarantor Loan Information
There are two types of guarantor loans available and there are an increasing number of lenders moving into this market like Amigo Loans, Solution Loans, UK Credit Loans, etc.
If you borrow up to £5,000, the person that is your guarantor does not have to be a homeowner, but if you borrow up to the maximum of £7,500, then the lender concerned states that you will need a guarantor that is a homeowner.
Everything can be done online, including authorising your guarantor and this type of loan is becoming more popular.
Rates are much lower than Payday Loans and some Personal Loans as well and it is a good product to help your credit history and credit score, if you keep strictly to the loan terms and conditions and make sure you make all of your monthly payments in full and on time.
There are pages on the website explaining how you can get a credit card even if you have bad credit. We have many clients who had severe credit problems not only in the past, but current as well and they were able to get a new credit card account.
You may have to start off with a low credit limit initially, but they will review this after only a few months with good credit conduct.
There are various credit card companies and deals available and they are constantly being updated to bring you the latest offers.