No upfront fees to help you find a loan*
Features And Benefits Of Being Approved For Loans
There are varying features and benefits that come with being approved for a loan, and each benefit and feature depends on your personal loan needs and circumstances. Some people’s circumstances determine that they are eligible for homeowner loans, these loans are usually longer term loans will lower monthly repayments as they are spread over a longer period of time. However some people are eligible for smaller loan amounts but with higher repayments over a shorter period of time, meaning their loan is repaid earlier.
Some borrowers have exceptional credit ratings, and therefore benefit from low APR’s. The APR is the Annual Percentage Rate and is a percentage amount added to the amount you borrow. The APR is usually higher for those with a bad credit rating, however if the monthly repayments are paid, with no missed or late repayments, a loan may help you demonstrate to future lenders that you can maintain repayments.
Before applying for a loan, please consider the following;
- Read all documentation carefully before signing
- Ensure you understand the nature of the obligations you will take on and the resulting risks
- If unsure please obtain independent advice or take time to consider if this is right for you
An unsecured loan is available to both homeowners and tenants. The fact that its unsecured means that you are not at risking losing your home if you find that you cannot meet your repayments during the term of the loan. Even with a poor credit history you could still be approved for an unsecured loan.
Read about Advantages and disadvantages of Unsecured Loans
Debt consolidation loans are loans used to pay off all of your existing debts, leaving you with just one affordable monthly payment. This type of loan is a great solution for those wanting to regain control of their finances and protect their credit rating. Borrow from £1000 to £25,000.
Read about Advantages and disadvantages of Consolidation Loans
Reasons Why Loans Can Benefit Your Life
- Buy more time & regain control of your finances – If you have lots of debt repayments to think about each month it can often be struggle to keep on top of them and keep track of which debts go out and when. Having multiple unmanageable debts can result in missing payments which can then lead to damaging your credit rating. Combining all your repayments in to one or repaying your debts over a longer period of time with a consolidation loan may help you to maintain your credit rating in the short term and even improve it in the longer term.
- Investment in your future – Applying for loans can give you the financial assistance that you need in order to change your career, and the possibility of increasing your income. For example, you may need to get really advanced yet expensive training in order to become a web designer or graphic designer. Not only will you need to buy the expensive software for these jobs, you will also need to enrol in courses which will teach you the foundation elements of this type of career. Alternatively you may want to return to education to qualify in a new field for a change in career, expensive university fees are a barrier to many so a loan may help you achieve your dream job. Getting the money you need can be a significant step towards investing in your future happiness.
- Investment in your home – If you are a homeowner then getting additional money in is a great way to invest into your property. Not only will you benefit from getting that home extension you have always wanted, it will also add value to your property in the long run. This means that when it comes to selling your home, you will be more likely to make more from your sale.
Things to consider if getting a loan:
- Make sure you know what you are getting – Some people become blinded by the offer of a loan, particularly if they have been struggling to get offers due to bad credit. This may lead them to forget to consider the whole offer. It’s about more than just being offered money, the interest rate, length of loan and total amount repayable should all be considered before agreeing to take finance.
- Make sure you can afford the repayments. If you cannot be sure you can afford the loan long term then it’s best not to accept the offer, taking a bad credit loan and then missing payments is likely to make both your financial situation and any bad credit situation worse.
- What does the lender want in return? Some lenders who offer loans to people searching the internet for “bad credit” or “no search loans” will ask for security as part of the offer. This may be your car, commonly called a log book loan or even your home on a second charge mortgage. Whilst these options can be suitable in some circumstances if you are considering swapping unsecured debt for secured debt you need to think carefully if it’s the right decision. At the end of the day they are asking for the security for a reason.
- Is a loan really the best option – If the only loan you can get is at a high interest rate making it either unaffordable or forcing you to take it over an unreasonably long period of time then there may be other options available. If the loan is for debt consolidation there are other alternatives available. Debt counselling services are available for people struggling with payments and it may be possible to negotiate a more manageable repayment scheme with you creditors. Free debt advice is available from www.moneyadviceservice.org.uk
Always make sure:
- It’s the right thing for you – Any loan you take should be on terms you are willing to accept and at a payment.
- Always make sure you are dealing with a reputable company. As of April 2014 all brokers and lenders have to be authorised by the Financial Conduct Authority (“FCA”). Ensure any company you deal with are properly authorised, this ensures they are regulated and above all act fairly and with your interests in mind.
- Always read the contract. All lenders will provide you with a copy of a credit agreement. By law this has to detail the amount you borrow, the interest rate charged, the length of the loan, any set up fees or penalties and your monthly repayment. Whilst it may look like a daunting legal contract the current regulations state these must be written in plain English and it should be simple for you to see the information you need to know to make an informed decision. You should never sign, either in person or over the internet unless you have checked and are happy with the terms of finance.
- Know your rights – Under the Financial services (distance marketing) regulations 2004 you have a 14 day cooling off period for any loan you take over the internet or phone. This means if you change your mind you can repay the original amount paid to you within 2 weeks and not face any further charges.
- Be careful of upfront fees – Here at Easy loans we charge no upfront fees. Some brokers do charge an upfront fee or require you to ring a premium rate number as part of your application. Some companies try to claim they offered a loan (usually a very low amount over a very short period at very high interest rates, i.e. a payday loan which is usually significantly different to the loan you applied for when you took the fee) and therefore they fulfilled their part under their terms & conditions and so refuse a refund when you complain. Under FCA guidelines they are not allowed to charge a fee for providing any product different to the one either promised to you or which they knew you were seeking.
Personal Loans. Good or bad credit applications welcome.
We do not charge upfront Fees
THE GUIDANCE AND/OR ADVICE CONTAINED WITHIN THE WEBSITE IS SUBJECT TO UK REGULATORY REGIME AND IS THEREFORE PRIMARILY TARGETED AT CUSTOMERS IN THE UK.
PLEASE THINK CAREFULLY BEFORE SECURING LOANS AND OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. SECURITY MAYBE REQUIRED.
ALL LOANS ARE SUBJECT TO AN ASSESSMENT AND CREDIT APPROVAL.
ALL RATES VARY SUBJECT TO LOAN AMOUNT, LOAN TYPE AND STATUS.
REPAYING YOUR DEBT OVER A LONGER PERIOD OF TIME MAY INCREASE THE AMOUNT YOU PAY.
WARNING – LATE OR MISSED PAYMENTS CAN CAUSE YOU SERIOUS MONEY PROBLEMS AND COULD SERIOUSLY AFFECT YOUR CREDIT RATING. FOR HELP GO TO MONEYADVICESERVICE.ORG.UK
EASY LOANS COMPANY ACT AS A BROKER PROCESSING THE INFORMATION THAT YOU PROVIDE TO US AND PASS THIS ON TO OUR LIMITED GROUP OF THIRD PARTY LENDERS AND BROKERS.
WE DO NOT CHARGE A BORROWERS FEE FOR THE USE OF OUR BROKERAGE SERVICES, HOWEVER WE DO RECEIVE COMMISSION FROM LENDERS (OR OTHER BROKERS) WHEN BORROWERS SIGN INTO A CREDIT AGREEMENT FOLLOWING AN INTRODUCTION THROUGH THE EASY LOANS COMPANY WEBSITE.
TELEPHONE CALLS FROM UK LAND-LINES ARE USUALLY FREE, HOWEVER CHARGES VARY FROM MOBILE PHONES SO PLEASE CHECK WITH YOUR NETWORK PROVIDER. CALLS MAY BE RECORDED FOR TRAINING AND MONITORING PURPOSES.
AS OPERATOR OF THIS WEBSITE, EASY LOANS COMPANY IS NOT AN AGENT OR REPRESENTATIVE OF CONSUMERS OR ANY LENDERS AND THEREFORE DOES NOT ENDORSE THE SERVICES OFFERED BY SPECIFIC LENDERS.
Easyloancompany is a registered trading name of Nationwide Direct Financial Limited which is an Introducer Appointed Representative of Quint Group Limited, who are a credit broker not a lender. Easyloancompany Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd, for the purposes of obtaining a loan. Easyloanlimited does not provide any loan or consumer Credit products directly. Easyloancompany is entered on the Financial Services Register under reference number 723650. Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Nationwide Direct Financial Limited is registered in England and Wales (Company number 05999918), Registered Office; Bridgewater House.58-60 Whitworth Street, Manchester, M1 6LT. Licenced by the Information Commissioners Office, (registration number Z9808421).
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details on the FOS can be found on its website at www.financial-ombudsman.org.uk.
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