Loans articles (4 of 6)

By Rebecca Goodman | 17 Oct 2022

It’s possible to get a loan while on benefits, but you could pay higher interest rates than on other types of loan. This makes it important to start considering other options from the government and credit unions.

By Rebecca Goodman | 23 Sep 2022

If you’re claiming certain benefits but need help with covering an essential cost, you might be able to get a budgeting loan or budgeting advance from the Department for Work and Pensions. These interest-free loans are repaid by reducing the benefit payments that you receive going forward.

By Rebecca Goodman | 23 Jun 2021

You may be due a guarantor loan refund if you were approved for one and a provider didn’t check your finances properly.

By Rebecca Goodman | 17 Oct 2022

While there are many reasons why you may not get a loan, it’s important to understand why you’re being turned down before you make any other credit applications.

By Rebecca Goodman | 22 Feb 2022

By choosing to refinance a loan, you could lower your interest payments and the length of the loan.

By Rhiannon Philps | 9 Feb 2023

A personal loan can improve your credit score in the long term as long as you consistently repay the debt on time. Find out more about the different ways that a loan could affect your credit score.

By Annie Millerbernd | 23 Aug 2021

Bank loans work similarly to loans from other lenders, but often require good or excellent credit to qualify.

By Rebecca Goodman | 7 Mar 2022

A fixed interest rate is an interest rate that doesn’t change, making payments predictable.

By Brean Horne | 21 Feb 2023

A bridging loan can act as a bridge between the sale of one property and the purchasing of another. It is a short-term option that helps bridge a financial gap whether you’re a landlord or property developer, or simply moving house.

By John Fitzsimons | 21 Dec 2022

Employers can offer loans to their employees in a few different ways. Employee loans can come directly from your place of work or a third party.

By John Fitzsimons | 9 Apr 2021

Credit unions offer a variety of loan products to their members. If you need to borrow money, a credit union loan can be an option worth considering.

By John Fitzsimons | 19 Aug 2021

Online loans make it easy to borrow money without visiting a bank in person. Online lenders offer a variety of loan products, including mortgages, personal loans and short-term loans.

By John Fitzsimons | 10 Sep 2021

Loans for self-employed workers can be difficult to obtain, but they aren’t impossible. We explain how to apply, where to borrow, and what to do if you have bad credit.

By Joel Kempson | 21 Dec 2022

An unsecured loan can be a simple way of borrowing money, whether you have a big expense on the horizon or other loans you want to consolidate. Find out more about how much you can borrow, over what length of time, and the pros and cons of this type of loan.

By Rachel Lacey | 18 Oct 2022

If you have a handful of outstanding debts, it may be cheaper and more manageable to consolidate them into one personal loan.

By Rachel Lacey | 15 Nov 2021

There are two main types of debt consolidation loans: unsecured and secured. Secured loans require collateral, unsecured loans do not. Offering security to the lender typically provides the borrower with access to larger sums of money.

By Rachel Lacey | 10 Aug 2021

Borrowers with poor credit who want to consolidate debt have the most difficulty getting a loan that suits their needs. However, there are options available for those with bad credit scores – you just need to know where to look.

By John Fitzsimons | 19 Aug 2022

If you miss loan repayments, you might receive a notice of default from your lender warning that you have broken your credit agreement. If you can't pay your debt, you risk defaulting on your loan.