Loan

Jan 8 2018

Loans UK – The UK s leading lenders under one roof #department #of #education #loans

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Secured loans

  • 5,000 – 100,000
  • Between 5 and 25 years
  • Interest rates from 6.9% APR

A secured loan is only available to people who own their own home and have equity in their property.

Example: 150,000 house value and a 75,000 mortgage balance = 75,000 available equity in the property.

The equity is not the only determining factor when obtaining a loan. Your credit rating will also restrict the loan amount available and interest rates payable.

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Unsecured loans

  • 1,000 – 15,000
  • Between 5 and 25 years
  • Interest rates from 6.9% APR

Availability of unsecured loans is based on your credit history.

Example 1: 50,000 salary, good job, own their own home and never missed a payment on their loans or credit cards = lowest available loan rates.

Example 2: Self Employed, variable income, missed a couple of payments on a credit card and rent their home = no unsecured loans available.

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Bridging loans

They can be arranged in days as opposed to weeks and amounts of between 25,000 and 5 Million can be made available.

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Written by CREDIT


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