Interest Rates On Personal Loans In The UK

We say we would not do it again, but we always end up taking personal loans to buy that new toy, pay that bill, take out a mortgage on that house etc. Taking out a loan to handle your personal business is a great way to free up some extra money and if the interest rates are great, it really cannot be that bad. In the UK, there has not been a better time than now to apply for personal loans as the best loan rates have dropped from 7.5% to 3.3%.

Why did the interest rates drop?

The reason for the drop in the interest rates is simple: the number of banks and other loan facilities offering loans in the sector has pushed the asking rates down. This means that loan applicants have a larger collection of banks to approach for loans in this time. This article has a collection of some of the offers from some banks in the UK in no particular order. However, you should note that, the amounts posted on the loan advert may not be the same rate that will actually be offered to the applicant in the end. In fact, according to telegraph.co.uk, up to 90% of loan applicants are turned down simply because of their credit score. The lending banks are very likely to offer the loan applicant a higher rate than that advertised.

Some loan facilities in the UK and their rates:

Sainsbury’s Bank: This bank offers the lowest rates in the market, with only 3.3% charged on loans between £7500 and £15000. The loans are repayable over a period of 2-3 years.

M&S Bank: this bank also offers 3.3% for principals between £7500 and £15000. However, there are special benefits in place for long-term or existing M&S bank account holders. Repayment is between 1-7 years.

HSBC: this UK company offers 3.3% on loans between £7500 and £15000, repayable within 5 years.

First Direct: This bank offers 3.6% interest rates on loans between £7000 and £25000. Lower rates are available for individuals who own 1st Account current account. Repayment is possible between 1-7 years.

Tesco Bank: offers 3.6% on loans between £7500 and £15000, but only for Clubcard holders. Repayment is possible over 1-8 years.

Nationwide: offers 3.4% on personal loans between £7500 and £14,999. Payment period is 1-5 years. Negotiable lower rates are available to current account holders at Nationwide.

Clydesdale Bank: this bank offers 3.4% on loans between £7500 and £15000. While the payment period is usually between 1-7 years, some loan amount require only a 5 year limit.

It is worthy of note that at all the banks, favourable rates are negotiated. The rate advertised rarely ends up being the same amount offered to the applicant in the end, and bargaining skills and (more likely) an account at the bank can help to sway the table to a favourable corner. Well, what are you waiting for? Prepare your application and get that loan today.

Facts About The Guarantor Loan

Guarantor loans are one of the best options when you have a bad credit card and it’s some emergency, whether you have to pay your medical bills or there is some other financial emergency. These loans are given without any credit check, so if you have a bad credit score and your application has been denied by every bank for the loan, then you can apply for the guarantor loans offered by the Loans With Guarantors.

Your money will be delivered to you within a short period of 24 hours regardless of the credit scores that you have. So, before applying for the guarantor loans, you must know more about these loans. As it is not a light step, it can create stress in your life if you are unable to repay your monthly payments. So, think twice and be sure that you know each and everything about the guarantor loans that you are going to apply. So, have a look at all these facts about the guarantor loan.

  • What Is The Guarantor Loan?

A Guarantor loan is the type of unsecured loan that is given in the presence of the guarantor who co-signs the agreement with the lender and the borrower who takes the responsibility of paying back the monthly repayments if the borrower defaults the payment or he is unable to pay back the loan. You can get $100 to $1500 of a loan from the loans with guarantor.

  • How Much Can You Get With The Guarantor Loan?

You can get the guarantor loan even if you have a bad credit history. This large amount is because you have a guarantor who is taking the responsibility. Therefore, you can get as much amount as you can with the help of guarantor loans.

  • Who Needs A Guarantor Loan?

It can be needed by anyone with the bad credit history. It is one of the best options for the persons in case of emergency as if they have no deposit savings and a bad credit score. Such types of people are often rejected by every other company, so these loans are the best options for them. Whether you have to pay your undue bills or there is some financial emergency, Loans With Guarantor is always the best place to visit. You will get the loan within 24 hours of your application.

  • What Are The Requirements For The Guarantor?

A guarantor can be your family member or someone very close to you. He can be your close friend or even your colleague. But he must not be financially dependent upon you. He must be a trustworthy person who takes such a big responsibility. He must be above 21 years of age with the best credit score. Moreover, he must be a homeowner in the United Kingdom if he is your guarantor. Make sure that he is not financially dependent upon you. Such as your spouse can’t be the guarantor of the loan if she is dependent upon you financially.

Creditpoor.co.uk – An Easy Access to Bad Credit Loans

If you have been associated with any type of debt product or have reasonable knowledge about loans in the economy then you must understand the importance of credit history of a borrower. Every lender in the financial market analyses the credit worthiness of the potential borrowers before approving or disbursing any amount of funds to them. For this financial analysis they use different types of criteria as a measuring factor. One such measure is the credit rating or score. Anyone having a poor credit history is seen with a number of different adversaries.

If you have any type of money shortages and you want to apply for a loan in the UK then the lenders will make your credit rating the focal point of your loan approval decision. Same is the case all over the world where lenders scrutinize the credit elements of the borrowers to the very nitty gritty details.

If by any chance you have a bad credit history, it can be assured that getting a loan out any lender will be no easy task. However, if a loan is unavoidable, it is only possible for such a borrower to get a bad credit loan. These are easiest types of loans that poor credit holders can obtain on a short notice. Creditpoor.co.uk also specializes in provision of these types of loans. They are often very offered at higher rates of interest, but the fastest manner possible.

Apart from creditpoor.co.uk a number of other lending companies are also working online and offline to provide potential borrowers with different types of bad credit loans. Log book loans and guarantor loans are very commonly offered loan categories of these companies.

Bad credit loans are considered to be very beneficial for a number of different reasons. When you opt to obtain a bad credit loan in the UK you get to enjoy many real time advantages. Credit Poor is a very popular name when it comes to getting bad credit loans in the UK. They provide you with the expert professional help that assist you in solving your financial problems. By using their advice and help you can ensure that you do not run into any type of financial trouble or problem once the loan is obtained. If you get a loan from creditpoor.co.uk you can definitely rely on the following:

  • Quick and fast methods of loan approvals
  • No hidden or complicated charges for the bad credit loan
  • Professional financial advice for all customers on a person to person basis
  • Least amount of documentation and pre requisites for the loan
  • Loan approval is ensured without any weightage to the poor credit history
  • Price of the bad credit loan is in compatibility with the market
  • A good chance to improve your existing poor credit rating
  • Quick and simple application system for potential borrowers
  • All information and application procedures are available to the potential borrowers online so they do not have to move out of your home
  • Transparent process of approval
  • Good customer service and qualified and experience staff member.

12 Months Loan – Cash Financing for Individuals

Financial problems have always been one of the various problems people face. They want to actualize their dreams and put their ideas into action but the lack of money can be frustrating. People have always thought of going to banks or loan companies to borrow money but they are concerned about the credit history checks that are required. They tend to believe that their past poor credit history will make it impossible to borrow money.  Some people think of the demands for collateral made by some companies along with the high interest rates that are charged; they think of the red tape involved with applying for a loan;   they think of the pile of papers they have to read and sign just to get the funds; they think of how they are going to repay the loan with high interest rates and all these factors tend to discourage people from trying to apply.  They are concerned that they may not be able to repay the loan which will add to their credit problems.

Acquiring a loan is never a bad idea; people should undertake research on the kind of loan that would be convenient for them to pay back. The 12 months loan, for example, is a convenient and an easy type of loan to acquire. A 12 month loan in the UK gives you the freedom to repay the loan over 12 months.  This kind of loan doesn’t require collateral or an investigation into your credit history. It is available to everyone so long as you have a paying job that would enable you to repay the installments for a period of one year.  This type of loan is available to everyone including people who have had records of bad credit. The 12 months loan can be lifesaving because it can be seen as the best option to generate funds in emergency situations.

There are many companies who provide loan services and there are also online sites that provide these amazing services. You only need to search for companies that provide services that you think will suit your needs and that you think you can abide by their rules which are relatively simple.  There are companies who only need you to provide accurate details about yourself and also how you think you can possibly pay back the loan. Through these online sites and companies, borrowers can get financial assistance in a quick and easy way with flexible repayment plans. Funds can be received within 24 hours if you use the right site or company and it is advisable for borrowers to be truthful when providing their details because these companies will certainly conduct their research based on the information you provide, so you need to give correct details in order to facilitate the loan funds quickly and without stress. 12Loans is the UK’s top provider of 1 year loans, you can apply via their site.

Loans you can use in difficult financial situations

People need money. However, through the financial crisis that one dwells in, it has become hard for people to get money and use it to make meets end. It has been hard for people to have purchases small or big, and to get investments that you want due to financial problems. Through loans, people can get over their financial problems in one way or another. Although loans can help, not all people can get a loan. This is because some lending companies need their customers to have a good credit rating performance.

Nevertheless, since most number of people who need loans has bad credit rating or no existing credit at all, there are several lending companies that have bad credit loans. These bad credit loans are being used by people who have bad credits and cannot be approved by lending companies to get loans that require good credit rating. These bad credit loans have several loans you can use depending on the loan that will be the best choice for you. Some loans like this include guarantor loans, homeowner loans, and logbook loans.

In guarantor loans, you need to have a guarantor who will be the fallback in case you fail to make your repayments. This guarantor will not have to pay for your repayments, but just in case you do not pay your repayments on time then the guarantor will be the one who has to pay for it. The guarantor can be anyone but your spouse or anyone you have financial relations with. Although you can have a bad credit because it will not affect it at all, your guarantor must have a good credit rating. In homeowner loans, you need to be residing in the country you want to get a loan from.

There are other kinds of loans too such as payday loans and student loans. It all depends on how much you need to borrow and what loan would be most suitable for you. Not all loans can be best for one person because the interest rates also differ and also, it differs in the requirements needed for one to qualify in the said loans. For example, in logbook loans, you can only qualify if you legally own a vehicle. By qualifying, it does not mean that you are already approved of the application process. It means that you have a step ahead of the requirements needed.

A representative of the lending company you wish to get a loan from will still have to inspect the vehicle you want to use in your logbook loan. Once it meets the standard that the company needs then you can get your application approved. Logbook loans are one of the most used kinds of loan because it can get you to borrow money immediately. You can get loan in as fast as one day. However, if you want to know if you can afford the weekly repayments and the interest rates of logbook loans, you need to use a logbook calculator. Check logbookcalculator.com so you can know more about logbook loans.