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Borrow from £1,000 to £25,000 with a low rate Personal Loan.
Whether it’s to fund home improvements, purchase a new car, or consolidate credit and store cards to reduce monthly repayments, our Personal Loans could help you to do this. We can now also lend to customers in Northern Ireland.
Who can apply for a Personal Loan?
To apply you need to be able to say yes to the following 3 statements:
What can I borrow?
If you borrow £5,000 over 5 years at a rate of 14.9% APRC fixed, you will pay 60 instalments of £116.26 per month and a total amount payable of £6975.60. This includes the net loan, interest of £1975.60, a broker fee of £0.00 and a lender fee of £0.00. The overall cost for comparison is 14.9% APRC.
The actual rate available will depend on your circumstances. Ask for a personal illustration.
Personal Loans and How They Have Benefitted Borrowers
The loan industry has undergone a lot of changes recently when it comes to the introduction of unique loan products. Personal loans today remain the most common type of loan products in the market bearing in mind that many salaried people depend on them, to take care of emergencies as well as finance other large scale projects. First it is important to understand what personal loans are. These loans are basically advanced to borrowers who have a steady source of income. When you borrow a personal loan, your source of income is usually used as a security for the loan.
There is a lot of competition, and as a result, many loan providers are constantly coming up with unique personal loans in order to entice customers to access cash for emergencies or various development projects. The long and gruelling process of accessing loans has undergone a lot of positive changes in the recent past. It is good to note that many borrowers today have benefitted a lot from new and advanced technologies, which have made loan application processes become much easier.
Personal loans have played a crucial role because they have enabled borrowers to continue their lives while fully knowing that they are fully accessible to credit facilities. So, if you are planning to apply for personal loans, you need to research and look around for loan providers whom you believe will be able to meet your expectations. As the borrower, you also have the responsibility of ensuring that adequate research has been carried out before identifying a suitable personal loan provider.
It is also important to have some information on the management and structuring of personal loans since these loans are usually offered based on the borrower’s level of income and capability, to repay the loan within the stipulated repayment period. You should talk to your local financial institution to have a good idea on the various types of personal loan products. We are living in hard times when money does not seem to be enough to cater for all our needs. To avoid getting into unnecessary debt, it is also important to make sure that loans are only taken when it is necessary. Loans should only be used for emergencies and development purposes.