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What exactly is a personal loan?
A personal loan is a sum of money which you borrow. This could be from a bank, building society or another financial institution.
What is the maximum value of the secured loans I can have in relation to the value of my property (LTV ratio)?
The industry average for the LTV ratio (Loan to Value Ratio) is 75%. This means that if your property is valued at £100,000 – you will be able to borrow £75,000 against it. It may be possible to get more than that – for example 85% or 90% - however you will need an excellent credit history and must in general be considered a ‘no risk’ customer by the loan provider.
What happens if I want to borrow more?
To borrow more you have the option of either taking out a new loan independent of your other loan(s), or arranging with your loan provider to add onto your existing loan.
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.
How much can I borrow with a debt consolidation loan?
The amount you can borrow on a debt consolidation loan is basically exactly the same as for a normal loan.

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.

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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.

 

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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.