Personal Loans

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What are Personal Loans?

A Personal loan has a different meaning to all of us. It could mean the cheapest repayment rate, or for those with poor credit problems it could be the lowest APR rate available for their circumstances.

Personal Loans Advantages

Personal loans have many advantages which can be obtained of applying them. You get money quickly. The funds that get deposited into your business checking or savings account in as little as one to three business days.
You benefit from the possibility of obtaining an unsecured business loan -- no collateral required for certain programs.
There is no application fee. It is free and easy to compare and save on loans offered by different lenders.
All start-ups are welcome.
You get very attractive loan terms.

Personal loans have different types of subcategories. Under the umbrella term of home loans, one can refer to one of the following categories: refinance, mortgage, debt consolidation, or home equity loans. We will examine each in further detail.

If you are looking to buy a new house, you can apply for a mortgage loan, instead of personal loans. In normal conditions, the duration of a mortgage loan can vary from a few years to 30 years or more and you can choose from among many such types and categories of mortgage loans that you are eligible for. Some lenders extend loans to individuals who are attempting to rebuild credit and even to sub-prime customers. With the recent financial crisis, nevertheless, that might change during the next few years.

Many consumers apply for personal loans to pay off an existing mortgage loan (same property). Market interest rates would normally take their toll on the decision as to whether or not to refinance an existing mortgage. In certain particular cases, refinancing may be the best way to save you hundreds or even thousands of dollars every year.

One of the main advantages of possessing your own house is that you accumulate equity on your property and this equity can be used as collateral in return for a loan. You can either apply for a home equity loan (lump sum) or a home equity line of credit (revolving). Personal loans with varying repayment terms are meant for both individuals with good credit and bad credit

Some programs give you the chance to pledge your property as collateral for a loan. You can then use this loan amount to pay off your current debt or consolidate all your loans into one loan. As this debt is secured, interest rates, and thus monthly payments, are generally lower in the case of personal loans.

Normally a personal loan is described as an unsecured loan, a loan which can be taken out which is not secured against a property, in fact can be applied for by anyone.

A personal loan however, is normally for a much lower amount (normally up to a maximum of £25,000 and is borrowed over a shorter period of time (up to 7 years)

Whatever, the definition of a Personal loan means to you. We can help.

Just fill in our brief application form and we will source the Personal loan you need.

Whatever you want from your loan, whether it's consolidation, a dream holiday or anything else, you could be SAVING 100's every month


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