Loans

The UK Loans market is vast and includes a huge range of choice for consumers. 
If you are confused about where to begin our quick guide will help to point you in the right direction.

What types of Loans are available?
There’s no short answer because there are many types of loans available.  The most popular type is a Personal Loan - this is the standard way of borrowing money from a bank, building society or specialist loan company. 

Who provides Loans?
In addition to banks, building societies and specialist loan companies, supermarkets have now entered the UK’s Loan market, creating increased competition and better deals for customers.

How much can I borrow?
You can generally borrow up to £15,000 for anywhere between six months and 10 years, depending on the health of your finances.  Specialist Loans are available for people with bad credit, however these generally come with higher interest rates.

Tips to find the best Loan 

• Shop around!
• Borrow over the shortest term you can afford - the shorter the term of the loan, the lower the Interest rate will be
• Apply for one loan at a time - applying for more than one can reduce your chances of being accepted
• Always read the small print
• Consider insurance should you find yourself unable to make your monthly payments