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Loans - Free loan quote

How we find you the cheapest loan:

  • You can borrow £1,000 to £500,000 for 1 to 25 years.
  • We can find you the best lender from over 500 loans.
  • We only work with regulated and qualified financial advisors.

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Bad Credit Loan

There are several reasons why you may have a bad credit rating. If you do have CCJ's or other credit problems, specialist companies will offer you a bad credit loan, although at a higher than average rate.

Having a bad credit rating doesn't mean you're a bad person. It also doesn't necessarily mean you're not financially astute. Your credit rating is based on two types of tests. The first is a credit assessment, usually done by one of two companies: Experian or Equifax. You should get your free Experian credit report online and see the information lenders see. If you are refused credit and you don't know why, you MUST do this - there are plenty of cases of people wrongly losing their credit status because of ex-partners or business complications that are totally unjustified.

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Bank Loan

A bank loan is what olden people would call a personal loan. These days, borrowing is much easier, and can be done in five minutes online. You don't have to go to a bank, in fact banks are often the last place to go in terms of price.

These days there are plenty more places than a bank to go for a bank loan. Supermarkets and online lenders all offer loans, and there are specialist lenders for flexible or bad credit loan products.

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Bridging Loan

A bridging loan is a specialised loan. Usually a bridging loan is used to cover shortfalls between buying one property and selling another, or to cover businesses between funding tranches.

A bridging loan is a specialised type of loan taken out over a very short period of time. You will know already that a standard loan gives you the money now, and schedules repayments over a fixed term. The cost of the loan is quoted as an APR, the interest you'll pay across a year. A bridging loan is used in specific circumstances to cover a shortfall over a very short period of time. The best example is the process of moving house, where you wish to complete the contract on your new property before the money in your old property is freed up. This can be a huge sum but the term across which the bridge is required might be very short.

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Business Loan

Big businesses have plenty of funding options, but for the small player a business loan from your bank is the only real option. Expect a better deal if you're committed enough to bet your house on your business success. Be sure to have a good business plan, and for cashflow shortages, consider factoring too.

A business loan is nothing like a personal loan. To begin with, most of the supermarket or direct lenders will not lend for business purposes full stop. Holidays and home improvements are their stock-in-trade, and business lending operates on very different criteria. Your first port of call should be a bank. Your building society is also likely to entertain lending to you for starting a business, but only if the loan is secured against your home.

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Car Loan

Some car loan providers offer special deals like cheaper insurance or breakdown recovery. Other products to consider are personal purchase schemes or flexible borrowing products. And ensure that car purchase is tax effective in the first place.

Along with home improvements, buying a car is one of the most popular reasons for getting a loan. There are plenty of car loan special offers because cars are expensive and for most consumers buying a new car without a credit deal of some sort is impossible. The useful life of a car can predictably outrun the period of the car loan, so it's not a giant leap into the unknown in financial terms.

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Career Development Loan

The career development loan scheme is a government-initiated lending system of convenient loans for vocational training. During the period of the loan, you will only pay off the interest. Once you are qualified and get a job, you can pay off the rest.

This is a slightly complicated area, because there are two types of career development loan.

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Cheap Loan

The cheapest loan can be judged by the APR of the product, and also be sure to see if any benefits associated with the product make it more attractive. Ask about redemption penalties too as they could cost you dearly if you pay the loan off early.

Every lender will tell you they can offer you a cheap loan. But do they mean cheap in terms of monthly payments? That might just mean they'll spread the loan over a longer period than their competitors. You'll pay far more, but it'll feel like less. Perhaps they offer a low "typical" rate which might not be the rate you pay. Most lenders judge each case individually, and you may not be offered the best possible rate. The best rates are always reserved for larger sums, so if you need less than £5,000 it's highly unlikely you'll get the best deal.

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Cheap Personal Loan

With rates from 5% you can have a £2000 holiday for only £200 of borrowing fees. With such benefits, your overall choice of lending includes credit cards and flexible banking.

You would have thought that borrowing money was as simple as looking for the lowest possible APR. Often that's true, but there are other factors too. Here are a few pointers to getting a cheap personal loan.

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Consolidation Loan

A consolidation loan is a special type of loan usually secured against your home to help those seriously in debt to recover. By consolidating all your existing debts into one large sum; you can then spread it over a longer period in order to reduce your monthly repayments to help get out of debt.

The principle of a consolidation loan is simple. You bundle up all your existing debts, which might include credit cards, store cards and other loans into one simple loan. The new loan might be over a longer period, thereby reducing your monthly repayments. As store cards can have high interest rates, you might also end up paying a lower interest rate. On the downside, if your old debts have redemption penalties, just closing them down could add to the debt you need to fix.

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Debt Consolidation Loan

A debt consolidation loan won't usually reduce your debts, in fact you'll owe more in the long run. This type of loan rather bundles up your existing debts into one lump sum, which you can then pay off over a longer period thereby reducing your monthly repayments to a more manageable level.

The principle behind a debt consolidation loan is that you put together all your existing debts in one large sum. This means the resulting debt is simpler to understand, the repayment will happen once a month rather than multiple times, you can clearly plan ahead and ideally the payments will be lower.

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Flexible Loan

Flexible banking allows you to offset your borrowing against your savings. Flexible loans allow you to borrow within limits whilst only paying interest on the outstanding balance at each billing cycle. That's ideal for taking a break over Christmas or overpaying if you come into some money.

The flexible loan is a by-product of the trend towards flexible banking. It just happens that flexible banking makes the flexible loan a particularly useful product.

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Freelancers Loan

The more you can show you're in control of your finances, the better your chance of getting a freelancers loan. With so many people starting their own businesses, many lenders are starting to see entrepreneurs and freelancers as an opportunity not a risk.

Unfortunately, freelancers and the self-employed people fall into the same category as bad debtors in the eyes of many institutions. For many, a freelancers loan is a bad credit loan. The important question to ask is whether you have any proof of income. An accountant's certificate will ensure you a better deal but if you are self-certified you are liable to have some lenders turning you down.

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Home Equity Loan

A home equity loan is the honest term for a homeowner loan. The money you borrow is based on the equity you hold in your property. The amount you can borrow depends on the price you bought your property, the amount it's risen in value and the amount of the mortgage you have yet to pay off.

A home equity loan, also known as a home owner loan, is a secured loan based on the value of your property. You'll either have a mortgage or outright ownership of your home to be eligible and if you fail to keep up repayments, then you may lose your home. This is not a lending solution to be taken lightly, usually an unsecured loan is the answer unless you're borrowing quite a lot of money.

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Home Improvement Loan

A home improvement loan is often cheaper because of the recognised increase in the value of your home. If you don't own your house, expect a standard loan deal to do the job but at a higher premium than a secured loan. At lower amounts, consider the benefits of payment holidays if you'd like a breather before paying.

Home improvements are one of the most popular reasons for getting a loan and it's usually easy to find a lender to give you the money. There are good reasons for this. They only apply to home owners, and chances are that your redecoration or extra building work will add to the value of the house. Home improvements are likely to cover 50% of their costs across the time they are in place in increased value in the property itself. Pop in a conservatory, swimming pool or extension, and you can usually bet the whole price of any home improvement loan will be covered.

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Home Loan

If you own your home, you have plenty more home loan options than if you are renting. To improve your home with a secured loan, consider all the usual mortgage lenders; and expect a better rate than an unsecured product.

The term "home loan" can mean "mortgage" - a loan you take out to cover the cost of buying a house. It can mean a loan which is secured against your home such as homeowner loan and home equity loan. And in this context, a home loan is a loan you take out to cover either maintenance or decoration of your home. And more confusingly, the best rates are reserved for homeowners borrowing against the value of their home.

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Home Owner Loan

A home owner loan is only available to you if you own your property either outright or under a mortgage. The money you borrow is secured against the property. Fail to pay the instalments and you could end up losing your house. But if you're investing in home improvements, the increase in value of your house could mean you actually make a profit.

The home owner loan is the most common type of secured loan. Unsecured loans are fairly expensive in interest rates because the lender has given you money without security. A home owner loan will be cheaper, not just because it's usually for quite a significant amount of money, but also because the lender is taking less of a risk - the loan is secured against your home, and there's every incentive for you to pay up on time.

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Homeowner Loans

A homeowner loan is another name for a secured loan. This is a loan secured against your property. As you are providing security, it will usually be for a larger sum but at a lower rate of interest than unsecured loans.

Technically, a loan can be secured on any valuable piece of property, but in almost all cases it's your home which provides the security; hence the term "homeowner loan".

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Loan Calculator

One of the benefits of shopping for loans on the internet is the loan calculator. Instead of showing you lots of tables, you can get two quick answers immediately: "what will my monthly repayments be" for any permutation of loan, and "what can I afford" in monthly outgoings and repayments.

Don't sign up for a loan without playing with our loan calculator first. Because there are so many permutations of amounts and terms that otherwise a mass of tables is required to work a loan out.

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Loan Calculators

There are two things to watch out for in particular. First, find out what you can afford to borrow given your monthly in/out goings. Then find out what your repayments on any loan will be. Be sure also to account for payment protection premiums if required.

We offer loan calculators, not least of all because it's too complicated to work out loan rates by hand. It's also your right to know how much you're going to have to repay. Incidentally, this is a separate issue from the equally pervasive comparison tables which show how much better one product is than another.

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Loan Companies

Loan companies fall into three main categories. There are traditional lenders such as banks and building societies. Then there are direct lenders, ranging from supermarkets to insurance brokers and many of them offer innovative products that push the lending boundary. Finally, if you're in financial difficulties, consider specialist bad credit lenders, debt consolidation and debt negotiation companies. All of whom will reduce your monthly payments but not necessarily reduce your overall debt.

There was a time when you had to pay the bank a visit to get a loan. Now, you can get a loan in a supermarket, and a credit card from your football club. Seriously though, loan companies split out pretty much into three ways.

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Loan Lenders

Facing financial difficulty? Looking to consolidate your debts? In need of a cheap loan? Don't worry, we are here help. View our extensive list of loan lenders.

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Low Cost Loan

Compared to lending practices a generation ago, every loan is a low cost loan. Lending rates have been stable and low since the early 1990's, and despite some recessive economics the financial markets are still lending at very low rates. That said, enjoy the value and keep checking the APR for the best deal - there's still up to 10% between the best and worst performers at any given loan amount.

If you asked most people what makes a low cost loan, almost all will say a low interest rate. If you didn't know, the rate is quoted as an APR (Annual Percentage Rate), which is a universal assessment of a loan's appreciation value. They account also for any administrative costs and accounting for the entire period of the loan. The main exception is bridging loans, which are usually quoted monthly.

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Low Interest Loan

For a low interest rate, look at the APR and be sure to add on any payment protection insurance for a true assessment of the cost.

In an ideal world, loans would be clear cut - the one with the lowest quoted rate would be the one to go for. But we don't live in an ideal world as the lowest quoted rate might be introductory rate. What matters is the APR (Annual Percentage Rate), which is a rate including all charges you might have to pay across the entire term of the loan. It's the best judge of whether a loan can really be called a low interest loan.

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Personal Loan

A personal loan isn't the only option when you're short of cash - consider credit cards or overdraft facilities. But if you like the organised and structured repayments or if you're buying a large purchase, then a personal loan could be right for you.

Personal loans have a rather unenviable reputation. In actual fact, these days loans are only one of several options if you find yourself short of cash, and if it proves to be the right one, there are plenty of places you can get your loan. So if you just find yourself a bit short at the end of each month, we can help you get a cheap loan.

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Personal Secured Loan

Getting a personal secured loan over an unsecured loan allows you to borrow more by placing your property as collateral to the loan. For business or home improvement purposes this is a clear advantage. However, in debt consolidation purposes it should only be used as a last resort as all your existing debts will then be settled by your own home if you fail to meet repayments.

A personal secured loan increases your borrowing options dramatically against an unsecured loan. Plenty of lenders who would refuse to lend you an unsecured loan on the grounds of lending responsibly will suddenly change their tune when the loan is secured against your home. This is why the vast majority of debt consolidation loans are of the personal secured loan variety.

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Second Mortgage Loan

A second mortgage can raise extra cash, but it's not the only option

If you need extra money for home improvements, to send the kids to school or start your own business, a second mortgage loan can help. However, expect to pay a higher interest rate than on your existing mortgage and make sure you can afford the repayments. Consider remortgaging instead.

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Secured Loan

A secured loan gives you a better interest rate, larger borrowing facility and longer repayment periods than an unsecured loan. That's because if you don't keep up repayments, you can lose your home.

A secured loan means that although you are borrowing money, you have enough specific property of your own, identified in your contract with the bank, for the bank to legitimately confiscate to cover the cost of the loan if you default on repayments. Usually that means your house, but loans can have anything as collateral. That of course sounds horrible, so "secured loan" is the preferred term! It's the opposite to an unsecured loan, and they cost more in interest. This is because the bank is taking a higher risk lending to you without any guarantee that you will put any of your property up as collateral against the loan.

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Secured Personal Loan

A secured personal loan is secured against your home, so it's only available to home owners. The advantage over unsecured lending is that by putting up collateral you benefit from a low interest rate. Be aware though that a secured personal loan is usually at a variable rate.

A secured personal loan is also called a homeowner loan - because your property is put up as security for the loan. So if you don't have a mortgage or own your property outright then an unsecured loan is the only way forward.

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Small Business Loan

Unlike with personal lending, the only place you'll easily get a small business loan is with a bank - most are equipped with business managers for this purpose. Most such loans are secured against your house and if pure cashflow is the issue, you should also investigate factoring.

When you're running a small business, you don't have many options. Big businesses that need to borrow in the millions can go to venture capitalists, angel investors or pursue an AIM listing. Small businesses can't. To make matters even worse, getting a small business loan isn't easy, because all the new lenders don't lend to businesses.

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UK Car Loan

Getting a UK car loan is no longer a straight forward process. As well as the dealer, you can now go to your bank, a supermarket, a specialist car credit dealer, or sign a part-purchase scheme contract. Which deal is right for you will depend on how much you value several criteria.

The UK car loan marketplace is increasing in size all the time, not only because of many new players but also new products which give different groups of people more options on buying a car. This includes the interest rate, your credit worthiness, fixed price motoring, deferral of costs, and ultimately whether you want to own the car outright at the end of the day. This is because the value, price and longevity of cars is not only quite specific, but well known throughout the finance industry.

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UK Loan

The UK loan market is much broader than it was a decade ago, because of shiny new banking products from internet lenders and supermarkets. For many consumers these put the banks in the shade, but for specific lending needs high street banks are still a good bet.

The UK loan market has changed dramatically in the past 10 years. This is largly due to two major areas that appear to shake up the cosy UK loan arena dominated by the high street banks. They are the internet banks and supermarkets.

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UK Personal Loan

The internet isn't the only thing to cause a stir in the UK personal loan market. Thanks to credit scoring and a benevolent economic environment, you now have many places to look for a loan. Beside your bank, there is a huge number of direct lenders - provided you have a good credit rating.

As with investing in the stockmarket, the arrival of the internet has given the UK personal loan market something of a shakeup. By cutting the costs of lenders, rates to you the customer can be cut too.

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UK Secured Loan

With your property as a guarantee, you're more likely to be accepted for a loan, and pay a lower rate of interest but with higher risk. The UK secured loan market is largely still restricted to mortgage lenders and a new breed of consolidation experts, but you can obtain your top-up loan from a different provider than your mortgage.

Getting money from a lender is always easier if you already have property to set up as a guarantee against the loan. You will inevitably pay a lower interest rate, because your property reduces the risk to the lender of never getting their money back. In the UK, secured loan lending is also affected by some other factors. Overseas, a higher proportion of home loans are at fixed rate, an intrinsically higher risk factor to the lender. In the UK, we have variable rate lending, which exposes you to the chance that interest rates will rise, but means the lender has little or no risk at all resulting in a very keen interest rate for you. Add to the mix a favourable economic climate and the fact that we are a small island without an endless supply of unregulated building space, and you can see why property prices have been rising steadily and the UK secured loan market has been stable and predictable.

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Unsecured Loan

An unsecured loan is the opposite of a secured loan. Despite the fact that most loans are unsecured, they cost more in interest than secured loans, and there's a good reason for it.

An unsecured loan comes at a higher premium than secured loans because the bank is taking a higher risk by lending to you. Also you might be less inclined to be responsible with the money when your house isn't riding on it. But for lower borrowing amounts, it's a negligible difference and simpler to arrange too.

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Unsecured Personal Loan

An unsecured personal loan is basically a plain loan - it's not secured against your home

An unsecured personal loan is pretty much the normal way to borrow a large sum of money for a range of expensive things. Unsecured personal loans usually carry an interest rate of between 7% and 12% APR. Within the consumer credit act, unsecured loans can reach a maximum of £25,000 but generally most lenders will only offer you between £500 and £15,000. Typical purchases include home improvements, holidays, cars and wedings.

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Why Loan?

A loan is a good way to borrow money for things you might not ever afford to save up for. Along with mortgages, loans are a structured way to buy now and pay later; with rates currently between 5% and 12% for a secured or unsecured loan.

Most people think of loans in a very negative way - much more negatively than they think of overdrafts. Maybe it's because loans are associated with being short of cash.

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