A VIDEO GUIDE TO PERSONAL LOANS | HOW THESE UNSECURED LOANS WORK | WIDE VARIETY OF LENDERS AVAILABLE скачать в хорошем качестве

A VIDEO GUIDE TO PERSONAL LOANS | HOW THESE UNSECURED LOANS WORK | WIDE VARIETY OF LENDERS AVAILABLE

This guide goes into depth about how unsecured personal loans work, unsecured vs. secured loans, and credit rating impact. ------ ▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG Personal Loans: https://www.solution-loans.co.uk/pers... Unsecured Loans: https://www.solution-loans.co.uk/unse... Cheap personal loans for unemployed people: https://www.solution-loans.co.uk/blog... Unsecured vs secured loans: https://www.solution-loans.co.uk/blog... ------ ▶️ SOCIAL Like us on Facebook:   / solutionloansuk   Follow us on Twitter:   / solutionloansuk   Follow us on LinkedIn:   / solution-loans   Follow us on Instagram:   / solutionloans   Website: https://www.solution-loans.co.uk/ Subscribe to our YouTube channel: https://bit.ly/solutionloansYT ------ ▶️ ABOUT SOLUTION-LOANS.CO.UK Solution Loans is a leading UK online credit broker. We started in 2005 with the express mission of providing people with information and online tools to help them make smarter financial decisions. We're fully authorised and regulated by the Financial Conduct Authority (FCA). Our credit broking service is FREE to use; there are NO UPFRONT FEES. In most situations the deals you will get will be AS GOOD AS GOING DIRECT, although you should also have more choice than if you went direct. ------ ▶️ VIDEO TRANSCRIPT Unlike homeowner loans, logbook loans or other secured forms of finance, unsecured personal loans do not require the borrower to put up a form of security - be it a house or vehicle - as a guarantee for the lender. There is also no requirement for a third party to act as a guarantor. The lender bases a decision on whether a borrower will be able to repay the loan by assessing the applicant’s creditworthiness, income and their other financial commitments. They can offer a borrower an affordable option to pay for a car or a holiday in a flexible way with repayment schedules which can range from one to 10 years. Most people who successfully apply for a personal loan are able to borrow between £1,000 and £25,000 and there are lenders who have financial products for non-homeowners & tenants as well as homeowners. Interest rates are lower than for other forms of finance and there are now personal loans available for borrowers with less-than-perfect credit. Personal loans are available form a wide range of lenders and applicants are not restricted to the traditional High Street banks when looking at this type of finance. There are probably more unsecured loan products on the market than any other type of loan with each lender having different acceptance criteria, different repayment schedules and different interest rates. In general, however, the more that you borrow, the lower the APR you are likely to pay but this will depend upon your financial circumstances (including credit record) and the length of the repayment schedule. If you have a good credit history, then it’s likely that you’ll be able to access personal loans with the lowest interest rates. However, there are increasing numbers of loans available to people with less-than-perfect credit histories and interest rates on these compare favourably with other forms of lending - particularly credit and store cards. Most personal loans are offered with fixed rates meaning that you’ll know exactly how much you’ll have to repay and what the monthly repayments will be for the term of the loan up front. This can be particularly useful if you need to be able to budget well in advance to suit your lifestyle. An unsecured loan could be the right form of finance for you if you’re looking to borrow a fairly substantial amount, not end up paying a very large amount in interest charges and want to know exactly how much you’ll be repaying over the term of the loan. Personal loans are frequently used to fund home improvements, car purchases, holidays and even to consolidate other debts. While not having to provide security in the form of a home or vehicle for a personal loan and despite there being a wider range of them on offer, there are still fewer unsecured loans available to applicants with poor credit histories than secured or guarantor loans. You’re also likely to have to pay a higher interest rate than with a secured or guarantor loan and the amount that any applicant will be able to borrow - irrespective of credit history - will be less than with a secured loan. Repayment schedules are also shorter although you can still choose to repay over timescales as long as 10 years. If you’re considering an unsecured loan, bear in mind that if you find yourself in a position to repay the loan early, you could face early repayment fees. Although these loans are not secured against property, lenders can still pursue a defaulting borrower’s assets through the courts.