Tag: Financial Blog

Home Loans

If you’re a homeowner, home loans are usually defined as secured loans, and should benefit from the best APR’s available. Home loans are available with some of the most established lenders in the UK. If you have defaulted on a payment in the past or have CCJ’s (County Court Judgments), you can still be eligible for a good rate if you choose a home loan.

Sometimes lenders will offer a repayment holiday with a home loan if you need to take a breakfrom making repayments. You should always ask when applying. Home loans are amongst the most popular loans products.

Car Loans

Car loans are amongst the most popular loan types with UK consumers. If you’re looking to finance a new car then the car loan is usually the best option.

Specialist car finance companies process thousands of car loans every year and has tailor their services to suit the demands of the car finance market. If you don’t have a specific vehicle in mind, some car loan lenders have the facility to supply the car as well as the finance effectively offering a one-stop shop.

Of course this is not an ideal solution for everyone, however some customers do like the extra convenience of being able to sign one contract and drive their car away the same day.

Personal Loans

There are now a wide variety of financial comparison web sites allowing you to search and compare practically all of the most competitive personal loans and personal loan plans available in the UK. Whether you’re a tenant or homeowner you can find the best loan to suit your needs and more importantly your financial circumstances.

Finding the time to search for personal loans cannot be easier today there are over 300 personal unsecured loans available in the UK and now a plethora of comparison companies allowing you to source competitive personal loans and personal loan plans.

Bad Credit Loans

If you’ve already been refused credit or have missed payments or have defaults from the past your most likely options are bad credit loans. For customers with an impaired credit history bad credit loans are available to these people who fall within the sub prime category and are usually associated with above average interest rates if the customer is a non homeowner, a tenant.

However it’s not all bad news, if you are a homeowner it is more likely that your lender will off you a secured loan because they have the added benefit of the loan being secured on your home.

Simon Duffy writes for the Financial Blog a UK Finance Blog talking about all aspects of personal finance including loans blogs, credit cards blogs, tenant loans, credit cards blogs, mortgages blogs, insurance blogs and more.

Personal loan rates are increasing in the UK. This is either an attempt by the banks to stem any further losses from the recent credit crunch or it is in place to cover the possible risks of lending to people already in debt who may be struggling already.

Loan rates have increased by something like 0.5 per cent in the last 3 months alone and so borrowing money with an unsecured loan will cost you far more today than it did before Christmas.

People thinking about consolidating their debts with a loan should seriously consider the affordability but especially when banks are increasing the costs of borrowing seemingly every month. Certainly a good point to consider would be applying for only a fixed rate product so that you can guarantee no further interest rate rises will affect the repayments on your loan, costing you less in the long run.

Also consider the fact that you may be able, in the future, to repay your loan in full. Make sure the loan product has no early redemption penalties where you are penalised with a fee or further interest charges for repaying your loan in full before the term of the loan.

Of course there is no guarantee that your loan application will be accepted, if you have recently applied for a loan and have not been successful it might be best to ask yourself why? Can you really afford the repayments? What if you loose your job? And so on-

If you are insistent on getting a loan then you must bear in mind that the riskier a potential customer you are to a bank the more it will cost you in interest and ultimately the total amount you repay.

Simon Duffy writes for the Financial Blog a UK Finance Blog talking about all aspects of personal finance including loans blogs, credit cards blogs, tenant loans, credit cards blogs, mortgages blogs, insurance blogs and more.