Are you wondering why choose a personal loan? One of the main reasons for choosing a Personal loan is the flexibility. There are a variety of Personal loans available which can be divided into two categories: secured personal loans and unsecured personal loans. Homeowners can apply for a Secured personal loan (using their property as security), whereas tenants only have the option of an unsecured personal loan.
Secured Personal Loan:
A Secured personal loan is simply a loan that is secured against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan; or, have a poor credit history.
Lenders can be more flexible when it comes to Secured personal loans, making a Secured personal loan possible when you may have been turned down for an unsecured personal loan.
You can borrow any amount from £5,000 to £75,000 and repay it over any period from 5 to 25 years.
The only disadvantage to a secured personal loan is that there is a risk of losing your home, if for whatever reason, you are unable to keep up the repayments.
Unsecured Personal Loan:
An Unsecured personal loan is good for people who are not homeowners and cannot obtain a secured loan for example; a tenant living in rented accommodation.
An Unsecured personal loan is a personal loan where the lender has no claim on a homeowner's property should they fail to repay. Instead, the lender is relying solely on the ability of a borrower to meet their loan borrowing repayments.
The amount you are able to borrow can start from as little as £500 and go up to £25,000.
The repayment period will range from anywhere between six months and ten years.
An Unsecured personal loan can be used for almost anything - a luxury holiday, a new car, a wedding, or home improvements.
Unsecured personal loans are invariably more expensive than secured loans, and the repayment periods demanded by lenders are shorter too.
You may freely reprint this article provided the author's biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.
An unsecured loan is a personal loan where the lender... Read More
The latest IDS figures for unemployment the claimant count measure... Read More
Have you been trying to find out what bad credit... Read More
The Internet has provided a whole new dimension to obtaining... Read More
A bad credit history is like having contracted an infectious... Read More
Should you find yourself getting in over your head with... Read More
Why choose an unsecured loan? An unsecured loan can be... Read More
If you're saddled with debt or find yourself in an... Read More
Obtaining bad credit loans can be a real challenge. If... Read More
Payday loan companies gives the borrower the amount of the... Read More
With a nation that has in the region of a... Read More
Listed below is a guide to loan terms. It is... Read More
When looking for loans online, you might find yourself wondering... Read More
Because of the Internet, quick payday loans are faster than... Read More
Here are some useful tips on what to consider before... Read More
"All work and no play makes jack a dull boy".The... Read More
Owning a home is the most important dream of any... Read More
For a fast cash advance loan, no fax payday loans... Read More
You were on your regular walk with your wife, and... Read More
If your home business is starting to overflow from the... Read More
Many banks actively encourage their clients with low balances to... Read More
The phrase 'tailor-made' ought to be made for personal loans.... Read More
Before entering college, you may find yourself pondering exactly how... Read More
Outlined below is a guide to unsecured loans. It will... Read More
What are the opportune times to avail of military payday... Read More
There is a huge market for homeowners who have credit... Read More
Online car loans enable you to get a good quote... Read More
The term unsecured loan relates to a loan which is... Read More
If you find yourself looking for a loan, you'll likely... Read More
Enervated by the hectic schedule at the work place, traveling... Read More
If you're looking for a fast homeowner loan, you might... Read More
Okay, so one day you wake up and realize that... Read More
Some say that the automobile industry saved the economy during... Read More
Online cash advance companies offer a convenient and speedy application... Read More
There are many benefits in choosing a business loan, some... Read More
Credit Unions have long been known as the place to... Read More
Here is a useful guide to fast secured loans. Here... Read More
Refinancing your car loan is an ideal way to lower... Read More
There is a huge market for homeowners who have credit... Read More
As tuition rates at many colleges continues to rise, the... Read More
Car loans are a tempting way to purchase a new... Read More
Credit relationships in a social system form an intricate web... Read More
A UK Bad Credit Personal Loan is a loan designed... Read More
Online lenders might be high quality, serious companies such as... Read More
Since the invention of the first self propelled car by... Read More
Did you know that if you have a home that... Read More
In the full moon night, on a lovely morning you... Read More
While most companies seeking venture capital initially think about angel... Read More
If you're like most people, then you've got debt in... Read More
You just finished high school and realize you have two... Read More
A secured loan is a personal loan which is generally... Read More
Because it can sometimes be difficult to find a UK... Read More
Payday loan qualifications are different from other types of short-term... Read More
You wouldn't consider buying a new pair of shoes, a... Read More
Watching more and more people fall in the trap laid... Read More
Payday loans offer a fast and easy solution to financial... Read More
Financial statements, salaries, income proof, documents, paycheck, W-2 forms, 1099's... Read More
Not everyone is aware of what is a student loan?... Read More
Outlined here are some of the many benefits of a... Read More
Home improvement loans are loans specifically designed by loans companies... Read More
If you find yourself in need of poor credit loans,... Read More
Buying A New Car: A new car is second only... Read More
The usual modus operandi in most automobile purchases is as... Read More
When trying to locate bad credit loans, many people find... Read More
The long awaited paycheque is finally here. However, the reverie... Read More
Laws have been created to protect people against "Loan Shark"... Read More
Loan |