Sep 142016

You have been staring at that car, that jewelry, the new apartment for too long now. It is about time you took a stand and did something about it. There are many loans you can take in the UK whether as a student, immigrant or resident, that will help you to settle any bills you have pending and pay for that item, trip or course you have been eyeing for too long. If you are wondering just what opportunities exist for loans in UK and what the types are, this post brings you all of those details.

The various broad types of loans in the UK are detailed below and if you are looking for the perfect loan so you can get that item you have always wanted, the first place to start is knowing what kinds of loans there are:

Personal loans

A large percentage of all loans taken worldwide are personal loans, and the UK is no exception. Personal loans are also known as unsecured loans in the UK, because the loans are given with no security, as they are loans that are taken based on the individuals personal credit rating. Borrowers can get up to £25,000 to be repaid over 10 years.

Secured loans

Unlike the personal loans which are unsecure in the sense that the bank or lending facility does not have any collateral or security against the loan, the secured loans are a lot different. First of all, the property of the borrower is used as a collateral or security on the loan. Thus, failure to remit or to finish repayment leads to seizure of the property by the bank or credit facility. Amounts for borrowing can be up to £100,000, payable over 25 years.

Debt consolidation loans

A credit card payment here, a subscription to Tesco on the other hand, power and water bills on another hand, and then the almighty mortgage; it’s enough to make you go crazy. With a debt consolidation loan, the borrower is able to access enough money to pay off all his debts from the different creditors while consolidating the newly accrued debt into one account. From this account, the borrower can service the debt as one. This particular method serves to simplify the finances of the borrower.

Student loans

Similar to student loans worldwide, student loans in the UK can cater to either the tuition or the maintenance fees, or both, depending on the course the student is offering and the policy of the lending facility. However, for all the student loans in all parts of the UK, repayment is only mandated to begin after the student finishes the course. Payment is usually variable rate (3.9+%), dependent on the income of the student post graduation.

So there you have it, the major types of loans to be found in the UK. Walk into any bank or credit company and inform them of your desire to take a loan, they will definitely be very interested and ready to furnish you with more information.

Jun 282016

“Right decisions for the right time”, this is the secret of almost all the successful people in the world. And there is no problem in the world which does not have a solution. Financial crisis is something like the same; it could be smallest to worst and with anyone but by timely wisdom any problem can be resolved. It can happen with anyone on earth, even the richest businessmen in the field who would not have serious fund issues must have availed any loan in their life to overcome a temporary crisis. But since taking loan is not an easy task for everyone, common people have to think several times before availing this option. is that single choice which can serve as the biggest facilitator for those who are reluctant about taking a loan but badly need it. This service provides excellent loan on the most affordable rates with an opportunity to avail services of the top lenders of Singapore. This is because this company is capable to make a comparison of the best service providers in the market to get an affordable rate for the customers. All of these companies are chosen on the basis of the credibility and authenticity; which means that only those firms can become the member of this network who have the best reputation in the lender sector in Singapore.

This company allows the borrower to choose a loan calculator at the home page and decide to submit a combination of required amount and time period to repay this amount. Any amount from $1,000 to $100,000 and period from 1-7 years can be chosen and submitted through the online calculator. However the company also provides an option to apply for a higher amount and term if the lender agreed to provide such an option.    

The company provides great support through experts with high experience who have set an automatic linkage system, which governs the detail submitted by the client and linking the customer with the most appropriate lender. Rest of the correspondence takes place between the lender and the borrower in order to collect further information as much as required. However there are no complicated procedures required for the loan; just a few documentary requirements for safety of both the parties, which takes place in a very short duration.

Choice of the best lenders in the market makes Myloan the best option as the loan providing option in the market. It has set very strict criteria to choose the lenders; everyone cannot become a part of its lenders’ list. Satisfaction of the client is the top priority of the company that is why all the lenders on the list must ensure compliance of the set rates of the company, without applying and concealed charges. Those who do not fall on the certain criteria or fail its compliance are not included in the list of lenders. This is the basic reason due to which Myloan is known to be the most credible company in the world of personal loan in Singapore.

Apr 132016

Financial stability is must for every people life as it is the only reason because of which the person can complete all its luxuries needs and requirements and also overcome all his/her desires and also raise their standard of living. It is not possible that every person has the same amount of money always with them because the time situation changes with the time and if in case a person is in need of cash in emergency and does not able to get any source outside then he/she can prefer to have loan from bank where they can get money in exchange of something that is kept with the bank as guarantee according to the contract.

Short term and long term loans;

There are many loan organization that help you in providing loan in your difficult situations and help you in making your financial condition better than the before as they are the people that help you in growing with new steps so that you don’t face this such problem again. 12 Loans (12 month loan provider) is also one of the loan organizations that help you in all these cases and making you stank again in the society. They help you in providing unsecured loans, personal loans, signature loans and installment loan so that you can choose according to your requirement and needs and by taking this loan you will save your time, energy and mind as they complete all your needs and demands and also make you confident in investing at the right time so that you can pay the loan on time. They also help you in getting the loan for short term and long term period of time so that it is easily convenient to you in all the ways. Difference between long term loans and short term are;

  • Short term loans; these loans are for short period of time and have low interest rates as compared to other loans and have to pay back the money within the short period of time and thee loans are easily affordable and you don’t have to pay much.
  • Long term loans; these loans are long period of time and have high interest rates and have to pay more money as interest rate is so high.

Types of loans;

12Loans offer with different types of loans like;

  • Fast lending; the ancient procedure of lending loan is to go to bank, fill the application form, then wait in a queue to submit and then wait for long to get approved and then after that you get the money from the bank but now in this modern world you don’t have to go through all these procedure, you can now also get the loan online easily by getting yourself register online without waiting in a queue and online companies will verify with all your documents and income and all your details are kept personal and confidential with the company polices.
  • Repayments and flexible loans; under this you get a great opportunity of repaying the loan by lowering the interest rate as under this it is not necessary to pay the loan monthly but also you can pay the loan after every 2 weeks which can lower the interest rates and can take flexible loan easily.
  • No loan fees; while taking the loan online and completing all the procedures online easily you don’t have to pay loan fees as there are any charges for taking loan and also the agents don’t ask you any kind of money. All the loan procedure are free of cost only you just have to submit all the legal documents for getting the loan amount.
Feb 142016

Secured loans are useful if you are in a need of a large sum of money in a small period of time. It is an agreement that is backed with using the property owned by the borrower.

Therefore this kind of loans are available only to people who possess some kind of property that can cover up the loan in case the borrower cant re pay the loan that was borrowed. The minimal sum that can be borrowed with secured loans is £ 20,000 and the maximum is £ 150,000 however the amount that you can borrow is the amount how much your property is worth.

Good thing about secured loans is that you can borrow a large sum of money that you can use in buying a car, organizing a wedding, vacation building a new house and much more.

The repayment periods on secured loans are longer and they can take from 10 up to 15 years to re pay the loan that was borrowed, and with a standard and normal income it is easy to cover up the loan on the monthly basis. But if the borrower doesn’t keep up with re paying the loan that was borrowed he/she can risk in losing their house or something else.

With secured guarantor loans a guarantor is there to guarantee for you, that you will be able to repay the loan that was borrowed. Guarantors are basically your back up in the process in making a secured loan, they can help you if you cannot repay all of the loan that you borrowed that is why mostly guarantors are members from your family or close friends. Not anyone can be a guarantor, it takes a lot of trust and obligations for the guarantor to accept his role in making of the secured guarantor loan. Guarantor Lender won 2016’s lender of the year award, might be a good place to start.

Secured loans are mainly large loans because they hold your property until you repay the loan that you borrowed, that is the reason why the loan can be repaid in the large period of time, it is all made in that way to help the borrower repay his loan without going in a debt.

Over 40% of people in the United Kingdom have decided to make secured guaranteed loans. And continue with their lives with a lot easier lifestyle, without stress and problems.

But before deciding to make a secured guaranteed loan you should be careful, if you are not in the position to re pay the loan that you borrowed you will probably stay without your household or any kind of property that you want to put in the agreement. Also you should consider other options before rushing and deciding if this is the loan that you need, if this is the best way to get out of a debt, or the fastest way to buy a new home.

Beside secured loans there are unsecured loans that don’t require you to have some kind of valuable property, you just need to have a stable income.