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- What is an unsecured loan?
- An unsecured loan is a loan where no asset is pledged as security for the loan. (The most frequently used security is the family home.)
- What if my loan application is not accepted?
- Sometimes a lender may not wish to give you a loan. This may be for a number of reasons, however the lender is not obliged to tell you exactly why the loan been refused.
- Should I get Personal Loan Payment Protection Insurance?
- When you apply for a loan, you will be asked at the initial stages if you want personal loan insurance to be included in the agreement
- How do I make repayments and can I choose my monthly repayment date?
- Your repayments will normally be taken from your bank by direct debit on a monthly basis. This means that you must have enough cleared funds in your account on the due date, or the payment will fail and you will have missed a payment.
- How much can I reduce my monthly payments by with a debt consolidation loan?
- It really depends on how much you owe. In some circumstances you may be able to reduce your total monthly repayments by as much as 75% - simply by consolidating your debts into one single payment.
What is a Holiday Loan?
A holiday loan is a loan designed to give you the means to pay for a holiday. This is commonly used for 'holidays of a lifetime' like honeymoons, anniversaries and holidays to exotic locations.
You don't need to specifically apply for a holiday loan. However when completing loan enquiry and application forms you will be asked why you want the loan, and 'holiday' will be one of the options. A holiday loan is considered to be a good reason to get a loan by most loan providers, generally because they are quite small loans and therefore easy to pay off.
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.
- Adverse credit and finance ?
- What exactly is a personal loan?
- What is a tenant loan ?
- What do you accept as income ?
- Will the loan company contact my employer ?
- I live at home can i still get a loan ?
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