Loans articles (3 of 6)

By Holly Bennett | 5 Dec 2022

Having a loan secured against your home doesn’t necessarily mean you can’t remortgage, but it will play a part in the lender’s decision and may limit the options that you have.

By Holly Bennett | 19 Oct 2022

Collateral loans are secured loans that use an asset as security for the money you borrow. This will typically be your home, but lenders might consider vehicles and other types of asset too.

By Tim Leonard | 7 Nov 2022

Providing security for a loan means you put forward an asset, such as your home, as collateral against the loan that you need. As lenders feel they are taking on less risk with loan security in place, secured loans often have lower interest rates than loans with no security attached.

By Rhiannon Philps | 6 Feb 2023

If you need to borrow money – perhaps to pay for a car, home improvements or other big-ticket item – why not find out first if you can get a pre-approved loan? This is when lenders check your eligibility and tell you whether you provisionally qualify for a loan, without affecting your credit score.

By Rhiannon Philps | 8 Aug 2022

Doorstep loans, also known as home credit, are emergency short-term loans for small sums of money. They can be an expensive and risky form of borrowing.

By Rhiannon Philps | 16 Dec 2022

Loans between friends and family can be a quick and easy way to access money, but they aren’t without their complications. If things go wrong, your relationship could suffer, so find out what you can do to try to make lending to friends and family a success.

By Rhiannon Philps | 11 Oct 2022

Logbook loans provide a way to borrow using your vehicle as security for the loan. You can use the vehicle while repaying the loan, but very high rates of interest and the risk your vehicle could be repossessed means logbook loans are almost always best avoided.

By Rhiannon Philps | 17 May 2022

If you want to sell your house with a secured loan on it, you can either pay it off or move it to a new property. This will depend on your personal circumstances and how much you owe.

By Rhiannon Philps | 15 Feb 2023

Taking out a loan against property could be an option if you need to borrow a larger sum, perhaps to help pay for home improvements, or are struggling to get an unsecured loan. However, be aware there is a risk you could lose your property if you don’t make your repayments.

By Anthony Beachey | 22 Jul 2021

Peer-to-peer lending whereby specialist websites (known as platforms) bring lenders and borrowers together, offers borrowers an easily accessible alternative to traditional lenders such as banks and building societies. But how do you go about getting a peer-to-peer loan?

By Anthony Beachey | 9 Feb 2023

Peer-to-peer lending, whereby borrowers and lenders are matched via websites, known as platforms, offers distinct advantages to borrowers and investors. But it’s important to be aware of the risks involved.

By Anthony Beachey | 30 Aug 2022

Before applying for a loan you’ll want to be clear about the criteria you need to meet. We explain what lenders consider, the checks they make and what you can do to prepare.

By Rebecca Goodman | 23 May 2022

Personal loans are often used for big ticket expenses such as a new car and can be one of the cheapest ways to borrow money.

By Rebecca Goodman | 23 May 2022

If you want a new car but don’t have the cash to buy it outright, a personal loan is one way to pay for it.

By Rebecca Goodman | 5 Jul 2022

Dreaming of a holiday in the sun? A personal loan could be one way to pay for your next trip.

By Laura Whateley | 5 Jul 2022

Credit bureaus define "good credit" differently: it's 881-960 for Experian; 531-670 for Equifax; and 605-627 for TransUnion. If you have good credit, you can afford to shop around and compare the best rates for personal loans.

By Laura Whateley | 23 Nov 2021

A credit builder loan helps those with poor credit scores or limited credit history to demonstrate creditworthiness. Borrowers agree to fixed monthly payments, which helps build up their score, as long as they repay the loan in full.

By Laura Whateley | 18 May 2022

If you have a fair or average credit score, you can still access a range of loans and credit options. However, you may find you face higher interest rates than someone with an excellent credit history.

By Laura Whateley | 27 Jun 2022

Your credit score is important for lots of reasons, not least because it can help lenders decide whether to approve your loan application. There is no single credit score that will guarantee you get a loan, but a better score can improve your chances of approval.

By Rebecca Goodman | 2 Dec 2022

It can be possible to get a loan if you have a disability or long-term illness and are receiving disability benefits, but the interest rates you’re asked to pay might be high. It’s usually best to explore all the options available first.