Expert loan views & facts archive
Where can I find a £6000 loan?
It isn`t easy finding a loan today. Falling house prices means people own less equity in their home, so it`s harder to get a secured loan. At the same time, the credit crunch means lenders are being much more careful about lending money out
What is a personal loan?
A ‘personal loan’ is, generally speaking, a loan intended for personal use. Typical uses for personal loans include funding large purchases (e.g. home appliances), holidays, further education, debt consolidation, etc.
What types of loan are there?
With so many different types of loan available for different purposes, looking for a loan can be a daunting task.
Why can`t tenants get secured loans?
Secured loans, in general, come with lower interest rates than unsecured loans. In other words, lenders will charge less to loan the same amount of money for the same amount of time. However, secured loans are not available to everyone - and the reason for that is in the name...
Where can I find a £5,000 loan?
It isn`t easy finding a loan today. Falling house prices means people own less equity in their home, so it`s harder to get a secured loan. At the same time, the credit crunch means lenders are being much more careful about lending money out.
Secured Loans & the Special Liquidity Scheme
Credit, from mortgages and secured loans to unsecured loans and credit cards, has become, in general, harder to obtain and more expensive since the credit crunch began.
Consumers `shunning loans in favour of savings`
As fears surrounding personal finance problems rise in the UK, consumers are increasingly shunning loans in favour of saving their cash.<
Secured Loans & the BoE Credit Conditions Survey
For anyone with enough equity in their home, a secured loan can be an effective way of ‘freeing it up’: basically, turning some of it into cash.
What happens if I’m falling behind on loan repayments?
Many people currently feel the pressure when it comes to meeting their financial commitments – and loans are no exception. The credit crunch and rising costs of living mean that what was once a matter of simple budgeting has now become a balancing act, trying to make sure all your commitments are met without going into the red.
Which personal loan is right for me?
If you are looking for a personal loan, there is a lot to consider. There are various types of loan available, and the differences between each can be confusing. Here we take a look at the three main types of loan, and who they are most suitable for.
Useful Pages:
Secured Loans | Personal loans | Unsecured loans
Tips for getting approved for a loan
The credit crunch means that applying for a loan is tricky business compared to recent years. Potential losses after years of confident lending have meant that lenders have had to tighten their lending criteria, making loans harder to come by. That’s not to say it’s impossible to get a loan – after all, lenders still want to gain business...
Useful Pages:
Loans
Debt Consolidation Loan or IVA: which is best for me?
If you’re having problems with debt and you are looking for a way out, the range of options on offer can be overwhelming. Each different debt solution is suited to a different situation, and it’s important to understand which is best for you.
Here we look at two debt solutions that could help you get back in the clear: debt consolidation loans and IVAs (Individual Voluntary Arrangements).
Useful Pages:
IVAs | Debt consolidation loans
Secured and unsecured loans: what’s the difference?
A loan can be a big financial commitment. By taking one out, you will be required to give up a portion of your salary every month until the loan is paid off, and failing to do so could result in serious consequences.
There are two main types of loan: secured and unsecured. Each have their advantages and disadvantages, depending on a) your financial health and b) how much you want to borrow.
Who are debt collectors? What can they do?
If you’re behind on your loan payments, you might end up hearing from debt collectors. This is no reason to panic. Debt collectors aren’t going to confiscate any of your possessions – they’re not bailiffs and they don’t have any ‘special powers’.
Who are Bailiffs? What can they do?
Many people who owe money worry about bailiffs. There are all kinds of rumours about who they are, why they might be ‘sent round’ – and what they can do when they get there.
Bailiffs do have special powers that creditors and debt collectors don’t have, but that doesn’t mean they don’t have to follow the rules laid down to protect you.
Dealing with growing utility bills
At a time like this, the fast-rising price of energy is just one of many growing pressures on our finances. Energywatch (the gas and electricity watchdog) have estimated that utility bills have risen by 85% in the past five years, and trade oil prices are currently double what they were a year ago.
If you’re in debt, continually rising costs of living could be more than just a dent in your disposable income – they could mean it’s very difficult to afford both your costs of living and your debt repayments. If that happens, a debt consolidation loan (or maybe another debt solution) could help.
Debt Management or Debt Consolidation: which is better for me?
If you are struggling with debt problems, you may have a number of options available to you, depending on your situation. Here, we look at just two: debt management plans and debt consolidation loans, both of which can reduce your monthly payments and simplify your finances.
However, there are some differences between the two that mean each is suited to a different kind of situation.