Browse the FAQs categories and most popular questions below, or alternatively use the FAQ search box to whip your way through all the questions and answers in seconds!
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If you are a homeowner with a secured loan that is secured against the equity in your home there are a number of options that may be available to you in the event that you are intending to move house.
The options open to you will depend on a number of factors including the policies of the lender through which you have your secured loan. However options can include: repaying the homeowner loan in full out of the equity that you get from the sale of your existing property, taking out a larger mortgage for your new property and repaying the homeowner loan with that, thus transferring the amount that you owe on the homeowner loan to your new mortgage, or transferring the homeowner loan to your new property.... read more |
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Buying a new vehicle can be very exciting but can also be expensive, and for most people getting a new or newer vehicle involves having to sort out suitable finance.
There are a number of finance options available if you are looking to purchase a vehicle, and the type that is best suited to you will depend on your needs, preferences, and of course your financial status. ... read more |
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Debt consolidation has become an effective tool for those that want to make their finances easier to manage and wish to reduce their monthly repayments.
With a debt consolidation loan you can repay all of your smaller debts and have just one monthly repayment to deal with, which is often far lower than your combined existing repayments. ... read more |
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To defer repayments on a loan means to take a payment break at the start of the loan term, in other words you receive the loan amount but then do not have to start repaying the loan for an initial period – usually around 3 months.
Many lenders offer deferred repayments on unsecured loans, with the length of the repayment break varying from one lender to another. ... read more |
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Many people take out a secured loan and then find themselves in a position to repay the loan early – this could be through any situation from a house move, where the loan has to be repaid from the equity if it cannot be transferred, to a windfall where the borrower chooses to repay the loan in full.
While there is nothing to stop you repaying the loan early, it's important to be aware that there may be an early redemption penalty to pay, which can be, for example, 3 to 6 months' worth of interest.... read more |
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Depending upon the car finance option you choose and the loan amount you can borrow, you’ll either be able to select any car from a certain dealership, or you’ll be able to buy any car from any dealership – though some lenders may have certain requirements on the mileage, age and condition of the car.... read more |
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Secured loans can usually be repaid over a period of around 5 to 25 years, though this can range from 3 up to 30 years depending upon the lender.
When you take out a secured loan you can generally enjoy far longer repayment periods than you would get with an unsecured loan. ... read more |
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Payment protection insurance is a type of protective insurance cover that is offered with loans as well as with other types of finance.
This cover is designed to insure your loan repayments in the event that you cannot meet the repayments due to certain circumstances – through redundancy, accidents, or sickness, where you may find that your income suddenly falls.... read more |
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Pretty much anyone who has a regular income and a current account can take out a cash advance or a payday loan – as there are often no credit checks involved to apply.
Cash advance and payday loan lenders are regulated by the financial services authority – however, with these loans being so easy to get – and the fees charged aren’t exactly cheap - you should weigh up whether or not you really need to take one out. ... read more |
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Unsecured loans can usually be repaid over a period of 1 to 5 or 7 years. However, there are lenders offering repayment periods on unsecured loans of up to 10 years.
These longer-term 10-year unsecured loans are available with Northern Rock or Tesco. Eskimo loans (provided by Northern Rock) also offer loan terms of up to 8 years.... read more |
| Any purpose loans |
Any purpose loans allow you to borrow money for a range of different purposes.
An any purpose loan is so called because it allows you to borrow money for pretty much any purpose.
The money you are leant is leant without any requirements or conditions of what you should or should not spend the money on - as long as it's legal of course!
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| Bad credit loans |
A bad credit loan is a loan designed specially to help people with a poor credit history get the finance they need.
The majority of bad credit loans are secured personal loans, which means the loan amount you borrow is secured upon your property.
There are also bad credit loans specifically designed for purchasing a car. Car purchase loans do not require you to be a homeowner to take the loan out.
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| Car finance loans |
Car finance loans are personal loans that can be taken out to fund the purchase of a new or used car.
Car loans are similar to unsecured loans in the fact that they do not require any property to be used as security on the loan. However, some car loans may be secured on the car you buy.
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| Debt consolidation loans |
Consolidating your debts into one loan can often mean your monthly repayment will become much less than what you are currently repaying each month on all your separate debts.
As well as easing the burden of hefty repayment bills, a debt consolidation loan can remove a lot of stress of trying to juggle repayments on many different credit or loan debts.
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| Home improvement loans |
We all want to make the most of our homes, and being able to create the perfect home can really improve your quality of life. But of course, like most other things in life, home improvements cost money, and in order to carry out the improvements that you want you may need to look at ways to raise the necessary capital.
A home improvement loan is an effective way to raise the finances that you need in order to carry out your home improvements.
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| Secured loans |
A secured loan is when you use your property to borrow money. Your property acts as 'security' or collateral on the loan amount you are borrowing, very much like a mortgage.
Secured loans are often referred to as a second charge; this is because you are borrowing money on top of your existing mortgage, making it a secondary charge to your property. |
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| Unsecured loans |
An unsecured loan is a personal loan that does not require a property to be used as security on the loan. Unsecured loans are therefore available to people who do not own their home.
An unsecured loan will be leant based upon your credit score and financial circumstances only, so you will need to have a good credit history. |
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