Hot Topics

What is a Career change Loan?
If you are planning a change of career then it is likely you will experience either a big drop in or a total loss of regular earnings – and this is why people choose to take out career change loans.
How quickly can I get the money?
How quickly you get your loan depends on who you buy it from.
Will my monthly repayments ever change?
It depends on whether your loan is a fixed or variable interest rate loan, and over what period of time you are taking the loan.
Can I have a fixed rate loan?
It is entirely up to you if you want a fixed rate or a variable rate loan – however there are some limits to this.
Can I borrow again in the future?
Your ability to borrow again in the future will depend largely on how well you managed your loans and other forms of credit in the past.

How much can I borrow?

How much you can borrow is dependent on a number of categories: your income, your assets and your credit history to name but a few.

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The basic rule with an unsecured loan is that you can borrow between £500 and £25,000. With a secured loan the average figure would be between £3,000 and £100,000. However, these are general figures and if you need more you will be able to negotiate if you have assets, i.e. property, to secure the loan.

The maximum value of your loan is often directly related to your property, and the maximum loan you will be allowed will be to 85% of the value of your property. This means that the more property you own, the more you can borrow, and those who have done well in the recent housing price boom will have the ability to borrow more against the house, and buy extra properties. If you have the assets, you will be able to borrow up to £1 million.

 

Risk Warning
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.