Personal loans have low-interest rates and flexible repayment options which make them ideal for satisfying almost any financial need.
Whether you need a small unsecured loan or a large secured loan for debt consolidation, a personal loan offers the best option in the UK.
Get a personal loan & use it for anything
Personal loans offer lower interest rates than credit cards and can be obtained fairly easily, especially if you’re looking for a smaller sum and a shorter loan term.
You can quickly and easily find your ideal loan by making use of a loan comparison website. You can compare loans from a range of providers as well as compare interest rates and loan amounts offered to find the ideal loan solution. Most loan comparison sites are free to use and are self-explanatory.
Borrow responsibly & benefit from it
When some people hear the word ‘loan’ they get a little nervous. But a personal loan can be very useful when you need money now but don’t have it. All you have to do is make sure that you only borrow what you need, and can afford.
Find a lender who will work with you to work out a personal loan that suits your unique circumstances, including what suits your pockets. After all, personal loans are there to give you a hand, not sink you into a financial hole.
Even when you qualify for more than you have applied for, limiting your loan amount means less debts and will allow you to repay the loan in full within a shorter time period.
What makes personal loans great?
The great thing about personal loans is that you can use them for a variety of different purposes. For example, unlike a home or car loan where the use is limited to property and vehicles respectively, personal loans widen the net a lot further and make it possible for you to use them for diverse reasons.
This is why they are so convenient!
If you’re in a financially tight spot, chances are a personal loan that can assist you in getting out of that spot.
Personal loans also offer tailored loan amounts and tailored repayment terms which are much more flexible than those offered by payday loans, car loans and other forms of finance.
Top reasons to choose a personal loan:
- You can choose your loan amount – from small loans to large loans big enough to purchase a vehicle or refurbish a property
- You choose the loan term – from a few months to 7 years, depending on the loan amount and your personal affordability
- Almost all lenders offer personal loans – so you can pick your provider
- Personal loans carry competitive interest rates – peer-to-peer lenders offering some of the lowest on the market
- You can opt for a secured or an unsecured loan – depending on your needs and whether or not you are a home owner
- You can extend or reduce your loan term – to make it more in line with your financial goals and repayment abilities
- You can use the personal loan for anything – there are almost no restrictions
- There are a range of personal loans – available to those who have a bad credit history too
You can get the cash you need, right when you need it
Personal loans make it possible for you to afford something that you can’t afford at the moment. And even though you will repay your loan with interest, your repayments are calculated to be affordable for you.
This could mean a longer repayment term but if you can make your repayments comfortably then that should be your aim. You should never take out a loan with a short repayment term that you will not comfortably afford.
No collateral? No problem!
Personal loans can be unsecured loans. These loans don’t require the borrower to offer security for that loan. You need to keep in mind that unsecured loans generally come with higher interest rates.
This doesn’t necessarily mean you won’t be able to afford your loan since a lot of factors go into deciding how much your loan will cost.
So there’s no need to worry; there are many lenders out there for you to find a highly competitive, affordable unsecured loan.
That being said, unsecured loans also come with smaller loan amounts. So if you need a larger loan, this may be a limit you need to consider. Also, if you have a bad credit rating you may have to provide collateral or, at the very least, find a co-signer that will be willing to act as a guarantor.
Personal loans are flexible
Many lenders will allow you to pay off your personal loan early without charging you for doing so. Even if you can’t necessarily make full repayment, you could possibly still make over payments.
This is particularly helpful if you are in a position to repay your loan in full prior to the end of your term and so being able to do just that makes more sense than continuing to pay installments bit by bit.
Before signing a loan contract always read the personal loan’s terms and conditions and establish the lender’s policy on early loan repayment.
Convinced?! Get your personal loan now
Many lenders across the UK have made it really easy for you to apply for a personal loan without needing to make the trip to the lender’s premises.
This is because you can apply online for your loan, which is usually quite simple to do. However, if you still prefer the old-fashioned way of doing things, you can apply in a branch, face-to-face as well.
Stress-free online loan application
With a personal loan, you can save yourself the stress of trying to figure out where you’ll get the money you need in order to meet your financial needs.
Take the easy road and complete a quick online loan application that can be filled out wherever and whenever at your convenience. So the next time you feel like a spur of the moment road trip, simply apply for a personal loan online and happy travels!