Hot Topics

What is a Debt Consolidation Loan?
A consolidation loan offers the opportunity to put all your outstanding balances together into one block. This can include credit cards, personal loans and sometimes your mortgage.
What is a Tenant Loan?
If you do not own your own property, you will not be able borrow money secured on your home. This means that any loan you take out will be a tenant loan – or an unsecured loan.
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.
How long can I take the loan over?
How long you take the loan over depends on how much you need and how much you can afford to repay on a monthly basis.
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.

In what circumstances should I consider taking out a personal loan?

You can get a personal loan for any reason you want.

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The most common reason for getting a loan is to buy a car. Not many people have £10,000 or more sat in the bank so when buying a new car, it is extremely common to get a loan. You can also get a loan out to buy a holiday, maybe a honeymoon or a holiday of a lifetime for you and the family. Many people also get a loan to pay for major home improvement - perhaps you want to fit double-glazing and add on a conservatory to increase the value of your house. Or maybe you want to build a swimming pool in your back garden. The loan company will ask you why you want the loan in the first instance, and basically it is entirely up to you.

Many people think of an unsecured loan as being a 'personal loan' but, if you're a homeowner, a secured loan could be an alternative. Click on our FAQ's 'What is a secured loan' or 'What is an unsecured loan' for more details.

 

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.