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Fast Cash Personal Loans - How To Get The Loan Fast
The quickest way to get cash is to apply for a cash personal
loan, also called a payday loan. In a matter of minutes your
application can be approved and you can find your money in your
checking account the next morning. While you are online, you...
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There are many benefits and drawbacks to consider when deciding if a fixed rate mortgage is right for you. It is important to look at all options when it comes to something as important as getting a mortgage for your new home. There are a few...
Let Us Uncover The Mystry Of Secured Loans
Okay, so one day you wake up and realize that you are far away from understanding your finances, let alone managing them. Finances are a gamble where you ought to win. If you lose you lose everything - whatever you have build, you have bought,...
Online Loans Made easy
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Shopping for Loans Online
When looking for loans online, you might find yourself wondering exactly how secure your information is and how the loan that you can get online would compare to a loan obtained at a physical establishment such as a bank or finance company. Both of...
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Unsecured Loans
When looking for a personal loan, borrowers normally have two options to choose from - unsecured personal loans or secured personal loans. Unsecured loans are loans where the borrower does not have to officially put down any collateral against the loan. They are open to both homeowners and tenants, although some providers of unsecured loans prefer to deal only with homeowners. The amount you can borrow on unsecured loans is generally limited to a maximum of £25,000. It is also unlikely that you will be able to obtain an unsecured personal loan for amounts of less than £1000.
Secured loans on the other hand provide borrowers with the ability to borrow more than £25,000 on a personal loan. They are almost exclusively open to homeowners as a form of collateral is needed to place against the loan. In most cases this collateral is the borrower's home or equity in the borrower's home.
Both secured loans and unsecured loans can be arranged through a large variety of lending sources, including high street banks, Internet lenders and building societies. With so many sources to choose from it can sometimes be difficult to make the decision on who to obtain your loans through. Here are some points to consider in order to help you make that decision: -
APR - The APR is the annual percentage rate - i.e. the rate of interest that you will pay on unsecured loans once any introductory rates expire. The APR will essentially dictate how much your unsecured loan will cost - the lower the APR then the less you will end up paying for your unsecured loan. You should also watch out for APR charged on a sliding scale. Some loans companies only offer their headline APR rate once the borrower commits to an unsecured loan of 'x' amount. Smaller loans are often
charged at a much higher APR, which can be more than triple the headline rate.
Fixed or variable rates - Most unsecured loans are available on a variable APR. This means that the interest rate may go up or down to reflect changes in the base rate as set by the Bank of England. However, some loans companies are offering unsecured personal loans at fixed interest rates. The fixed rates are initially higher than the variable rate, but will protect you from future increases in the standard APR rate across the life of the unsecured loan.
Credit arrangement fees - Some lenders of unsecured personal loans will charge a credit arrangement fee and administration fee for setting up your loan. Other lenders may waive one or both of these fees, saving you money.
Online application form - Does the lender have a user-friendly online application form? Using an online application form is often the quickest route down which to apply for an unsecured loan.
Processing time - How long will it take for the lender to give you a decision on your application? Some lenders offer instant decisions on unsecured personal loans.
Loan payment protection - Most lenders offer to protect the payments on your unsecured personal loan in the event that you are made redundant or are unable to receive an income because of illness. The cost of loan payment protection can vary significantly between lenders so if you are considering taking out loan payment protection make sure it is not going to cost you an arm and a leg! About the Author
Matthew Bourne has been working in the loans, mortgage and life insurance industry for over 10yrs and is currently working for http://www.loansgalaxy.com/unsecured-loans/
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The Student Loans Company Ltd. |
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Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
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Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
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Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
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Direct Loan Home Page |
The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
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Personal, home equity loans for union members at Union Plus |
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Secured Loans UK - Secured Personal Loans - accepted.co.uk |
We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
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The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
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