In the past if you wanted a personal loan you would have made an appointment with your bank manager. Nowadays the scope of lenders has enlarged enormously and with the emergence of the internet and its convenience to the customer, there are more choices of lender available literally at your fingertips.
Your record is searched every time you apply for any form of borrowing, hire purchase, store cards, other cards etc. Each time this is done it leaves what is called a "footprint" on your record.
Some lenders feel that even if you have never had financial problems, just having an active record with many footprints is good for your rating.
Some loans can be approved within a 24 hour time frame. Personal loans are usually for amounts between £5000 and £25000. It maybe that you want to buy a new car or start a project of home improvements.
Some people take out lending in order to consolidate their debts into one single monthly payment. This is often called "restructuring" your debt, and involves getting lending large enough to pay off your other loans and credit card debts.
An unsecured loan is where you can not offer up a properties equity as insurance against the failure to repay the loan. A secured loan would have a lower rate of interest compared to an unsecured loan where the lender calculates the risk of losing the debt as far greater.
Below we have some comparison tables showing some of the best deals currently avaialble for secured and unsecured personal loans. If you want more information about a particular loan product offered click the apply button where you can read more information before actually applying for the loan if you wish.
This site is intended for UK residents only. Best UK Mortgages is a trading name of Grovelawn Limited.
Grovelawn Limited is Registered in England & Wales number 5030300.
Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY
Best UK Mortgages & Grovelawn Limited does not provide personalised financial advice.