Want a Cheap Loan?

All you have to do is fill out your details and your loan requirements using our quick & easy Loan Request form. By applying now you’ll gain access to nationwide loan facilities with the cheapest loans deals currently available in the UK.

We know that you may well change your mind about the sort of loan you want once you’ve spoken to your loans adviser and found out what you’ll qualify for and what the monthly repayment will be – but at this stage that doesn’t really matter. The important thing is to send the basic information and get the process underway. There's no obligation.

How Secured Loans and Unsecured Loans work in more detail

Before you enter a Secured or Unsecured Loan Agreement make sure you know exactly what you’re doing. Read the following information – we hope it helps you make the right decision!

Also scroll down for Top Tips for the Best Value Loan

The Loan Contract. When you enter into a cheap Secured Loan or Unsecured Loan agreement you are signing a contract to make the repayments, as stipulated, by the arranged date every month for the duration of the contract. Any deviation from this agreement, without prior agreement, may result in financial penalties. For example, some lenders apply a charge for early settlement (also known as an early redemption penalty) if you repay the loan UK in full before the agreed end date. This penalty can be up to 2 or 3 months interest so it’s not to be sneezed at! If you think you might clear the loan before the end of its term, then look out for a secured loan or unsecured loan with no early settlement costs.

Flexibility. If you would like some flexibility in your UK loan agreement, make sure you arrange this before you sign on the dotted line. You may be able to arrange occasional over-payments and lump-sum payments, both of which allow you to clear the loan over a shorter period than agreed initially.

If your UK secured loan is truly flexible, you may also be able to use the loan facility as a bank account, withdrawing funds from the account on a rolling basis, providing you stay within your credit limit.

Lenders also offer repayment holidays, allowing you to defer your monthly cheap loan repayments either at the start of the loan (known as 'deferred repayment') or at an agreed points during the term of the loan.

Interest. Naturally, you’ll be charged interest on the amount of your loan. Sometimes this is calculated on the sum outstanding, and sometimes on the full initial sum borrowed. APR on loans currently varies from 7.4% for secured loans with people with excellent credit histories etc, up to 27.6% for those with particularly severe credit problems.

The APR stands for Annual Percentage Rate. It includes the average rate of interest over the life of the loan, how often interest is calculated, the administration cost of setting up the loan, and any discount periods. To comply with the Consumer Credit Act, all lenders must ensure that the borrower is clearly informed of the APR he, or she, will be paying.

Fixed or Variable APR’s. Your APR can be a fixed or variable charge. A fixed APR has the benefit of added security since the rate will not change. A variable APR doesn’t have this security but your monthly payments could reduce if interest rate charged were to go down.

Top Tips
for the Best Value Loans

Look at the small print - although the lowest APR is the main factor that contributes to a cheap loan UK, you should always pay attention to the small print as any extra conditions will always be found there. Remember, sometimes it isn’t always the cheapest loan that suits you best.

Don’t borrow more than you need - you will only pay more back in loan interest.

Stay in control - make sure you know exactly what the monthly UK loan payments will be, and how much you will pay back in total.

Everyone’s different - lenders have different APR offers and may charge some extras like legal charges or administration charges. So closely check out what they are offering.

Compare like for like – the APR’s are based on a standard formula set down in law. This enables you to make an exact comparison of the interest rates you are being offered.

Only ever make one loan application at a time – be aware that all your loan applications are recorded on your credit files held at centralised credit agencies. Multiple loan applications are frowned upon by banks, mortgage lenders and other lenders, and their records are kept for years.

Consider loan insurance – if you lose your job, have an accident or become sick, you will still have to make your loan repayments in full. So it’s a good idea to take out loan insurance, especially if the loan is secured on your home (a secured loan).

Talk to your loan provider - if you cannot meet your secured loan or unsecured loan repayments then immediately get in touch with your lender to discuss the financial problems you are experiencing. This will give you both the opportunity to talk over the options and then decide the best course of action to take.

Finally, check out the alternatives - you may be able to get a better deal on a home improvement loan by going to your mortgage lender or remortgaging rather than taking out a secured loan or even an unsecured loan.

Most of our visitors get this rate or lower.	11.2% APR Typical variable
Low and cheap rates from7.4% APR
The highest rate at 27.6% APR, is for those with particularly severe credit problems. All rates are variable.

Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.

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