With the variety of loans available today it is important to compare the available loans and their lenders to make sure you make the right choice. On this site we have many resources to help guide you toward the loan that can help you, factoring in the status of your credit file to recommend the best loan for your financial situation.
Loans for Good Credit Score Holders
If you have paid your debts in full and on time then you will most likely have a good credit rating. This will allow you to apply for loans from the bank which most often offer the most competitive rates. The eligibility criteria for a good credit loan differ from bank to bank, with most only being available to those who are employed full-time.
A personal, or unsecured, loan is the most common in today’s market. Whilst being of lower personal risk and with a lower demand of security, these loans do not differ in the severity of the consequences of late or missed repayments.
Specialised loans offer loans for a variety of specialised purposes: holidays, home improvement, car etc. These loans can help you avoid spending out on a credit card, but take a look at your options before deciding, as these types of loan are only useful if they provide a cheaper option.
Loans to Consolidate Debt
Do you have lots of debt across many different platforms and can’t keep up with the different monthly payments? Consolidate your debt by borrowing from one lender to pay off all of your debts at a potentially lower monthly payment rate.
A small loan can refer to a loan of between £200 - £1000, meant to be a fast solution to get you through those unseen emergencies. Small loans are similar to quick loans and short-term loans, with each of these loan types intending to help you cover small and unforeseen costs, not to solve long-term financial problems.
If you have no income, or even if you receive benefits, you can still take out a loan. Loans targeted towards an unemployed audience, or one receiving benefits, have a higher APR than most other loan options so make sure you compare what options are available to you to ensure that you are handling your finances sensibly.
Loans for Bad Credit Score Holders