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Credit > Loans > Loan Types
Your choice of loan will depend on a number of things such the purpose of the loan, the length of time you want to spend paying it back and whether you want to secure the loan with your home or not.
Personal loans usually start at 1 year repayment periods where as secured loans can often be paid back over as long as 25 years.
Below are brief descriptions of some of the loans available. Click through to learn more and to compare some of the loans currently available.
Secured Loans: These usually use you home as security for the loan. They often have lower interest rates than other kinds of loans and can be paid back over longer periods of time. Your home, though, could be at risk if you fail to keep up repayments on this kind of loan.
Unsecured Loans: These don't require you to put your home up as collateral for the loan. They do, however, have shorter repayment periods - usually up to 7 years and may have higher interest rates than secured loans.
Car Loans: As the name suggests, these are for buying new or used cars. They are most often unsecured and are paid back over a few years. Compare the deals you can get from banks before automatically going with the deal offered by the car manufacturer or dealership
Personal Loans: This is a generic term used for unsecured loans. They can be used for many things from new kitchens, cars and even holidays.
Homeowner Loans: These are a kind of secured loan. They can often be for higher sums than other kinds of personal loans and are usually repayable over periods up to 25 years.
Bad Credit Loans: If you have a less than perfect credit history, borrowing options can be limited. Some companies now specialise in these kinds of loans so there are options out there for everyone.
Bad Credit Car Loans: Again, bad credit can put a dampener on borrowing money and that can be especially troublesome if you need a new car. Luckily there are people out there willing to lend, but the terms may not be as attractive as for those with good credit.
Loan Types
There are a wide number of different types of loans available in the UK today.Your choice of loan will depend on a number of things such the purpose of the loan, the length of time you want to spend paying it back and whether you want to secure the loan with your home or not.
Personal loans usually start at 1 year repayment periods where as secured loans can often be paid back over as long as 25 years.
Below are brief descriptions of some of the loans available. Click through to learn more and to compare some of the loans currently available.
Secured Loans: These usually use you home as security for the loan. They often have lower interest rates than other kinds of loans and can be paid back over longer periods of time. Your home, though, could be at risk if you fail to keep up repayments on this kind of loan.
Unsecured Loans: These don't require you to put your home up as collateral for the loan. They do, however, have shorter repayment periods - usually up to 7 years and may have higher interest rates than secured loans.
Car Loans: As the name suggests, these are for buying new or used cars. They are most often unsecured and are paid back over a few years. Compare the deals you can get from banks before automatically going with the deal offered by the car manufacturer or dealership
Personal Loans: This is a generic term used for unsecured loans. They can be used for many things from new kitchens, cars and even holidays.
Homeowner Loans: These are a kind of secured loan. They can often be for higher sums than other kinds of personal loans and are usually repayable over periods up to 25 years.
Bad Credit Loans: If you have a less than perfect credit history, borrowing options can be limited. Some companies now specialise in these kinds of loans so there are options out there for everyone.
Bad Credit Car Loans: Again, bad credit can put a dampener on borrowing money and that can be especially troublesome if you need a new car. Luckily there are people out there willing to lend, but the terms may not be as attractive as for those with good credit.
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