Loans

Are you keen for extra space for a growing family, or desperate for a different kitchen - but can't afford to up sticks and move house? Maybe it's time to look at making home improvements and upgrading your current living environment to suit your needs? - whether it's adding an extension, or simply giving the bathroom a makeover and making it more practical.  The benefits of home improvements Making the changes you want could not only make you happier, but also possibly raise the value of your home when you come to sell. For example, a good extension or loft conversion that increases the floor-space in your home will tend to increase the value too - but whether this will add more than the cost of the works depends on what the market is like when you come to sell. Or you may opt for improvements such as central heating or double-glazing as general upgrades on your property. Meanwhile, decorating the home can be done reasonably cheaply but still make it a ...

Car finance deals Buying a new car – whether it is a brand new model or a secondhand vehicle – is exciting. Arranging the finance deal you need to cover the cost, however, is not. While many people spend hours comparing and contrasting different makes and models and then haggle hard to get the price down, the number of people who take the time to scour the market for the best car finance deal is much smaller as a result. However, paying over the odds to borrow the money to pay for a car can easily wipe out any reduction you manage to get on the price paid and make the vehicle cost a lot more overall. In fact, you could end up paying thousands of pounds over the odds, which is why it’s worth understanding the various options and checking the interest rates and charges available. The different types of car finance Hire Purchase plans Hire purchase (HP) plans typically require you to put down an upfront deposit (though in some cases this can be your existing car) and...

Guide to holiday loans Whether you need to travel for a faraway relative’s wedding or birthday, or want to fund a holiday of a lifetime such as a honeymoon or round the world trip, a low rate personal loan is one of the easiest and most convenient ways to pay for your dream trip. Here is a quick guide to using a loan to pay for a holiday, as well as some tips on finding the best deal. What is a holiday loan? Whenever possible, it is best to pay for holidays using your savings. However, a cheap personal loan can be a great way to fund a trip that your finances can’t quite cover in one go.  At the time of writing, you can borrow between £7,500 and £15,000 over say three years at an interest rate of just 5% or even less – although you will pay more to borrow smaller amounts. Advantages of a holiday loan Advantages of choosing a holiday loan include that your payments are fixed – making it easier to budget – and that you can generally choose to repay the amount borro...

Home improvement loans Home improvements can be a great way to make a property a better place for you and your family to live, while increasing its value at the same time. However, even though making improvements to your current house or flat often works out a lot cheaper than trading up to a larger home, many projects still require a significant financial outlay. Whether you want a new kitchen, need to repair your roof or are planning an extension that will transform your home, you may therefore have to borrow money to fund the work. A low-rate personal loan can be one of the best ways to do this. This guide to home improvement loans should help you to decide whether it is the right finance option for you. Advantages of a home improvement loan A personal loan offering the chance to borrow up to £15,000 over five years, for example, is a popular means of funding home improvements. You can currently borrow between £7,500 and £15,000 at an interest rate of 5% or thereab...

Bad credit loans A bad credit loan, as its name suggests, is a loan specifically designed for people with a poor credit history. There are plenty of reasons why you might have a bad credit rating, from having failed to keep up with payments on a previous credit agreement, to having a County Court Judgement (CCJ) against you. Even if you’ve never had a loan or credit card before you could end up with a poor credit rating because lenders can’t access any evidence to show that you could manage your borrowing successfully. Normally it is virtually impossible to borrow from a mainstream lender if you have bad credit history, which is why there are specialist loans and credit cards available for people with poor credit records. Advantages and disadvantages of bad credit loans The biggest advantage of a bad credit loan is that you are actually able to borrow money, which you otherwise wouldn’t be able to do because of your poor credit history. This can provide a real financial...

What is a secured loan?  A secured loan, also known as a homeowner loan, uses your home as security against the debt. Secured loans can be useful for those with poor credit ratings, but you must keep up repayments or the lender might make you sell your home to recoup what you owe. Advantages of a secured loan Homeowner, or secured, loans are available for amounts of between about £5,000 and £125,000. This makes them a good choice for anyone keen to borrow a larger amount. The headline interest rates on the top secured loans also start at between 5% and 6%, although the total borrowing cost will often work out higher. Another advantage is that the fixed monthly payments should make your repayment plan easier to manage. Disadvantages of a secured loan The amount you personally can borrow via a homeowner loan will depend on your income, your credit score and your existing credit commitments, as well as the amount of equity available in your property. Even thoug...

Wedding loans guide A wedding is a joyful occasion (or should be!). But, as all recently married couples know, it can also be a very expensive one.  Most weddings nowadays cost between £18,000 and £22,000, so it is hardly surprising that a lot of loved-up couples need to borrow to cover the cost of their nuptials. A low-interest personal loan is one of the easiest and most convenient ways to fund your big day. But is it the right way for you? Here is a quick guide to the pros and cons of using a loan to pay for a wedding, as well as some tips on finding the best deal and a few alternative suggestions. Advantages of a wedding loan While most people are able to put some money towards the cost of getting married, the average cost of about £20,000 is out of reach for many couples. A personal loan offering the chance to borrow up to £15,000 over five years, for example, is a popular means of making up the shortfall. You can currently borrow between £7,500 an...

Personal loans Are you thinking of buying a car? Maybe you need a new washing machine or sofa. Or perhaps you want to jet off to sunnier climes for a well-earned break. Most of us can’t afford to pay for such big-ticket items out of our regular income. Instead we need to borrow the money – and a personal loan might be the answer.  Fixed monthly payments A personal loan, sometimes called an unsecured loan, is different from an overdraft or credit card because it allows you to borrow a fixed amount over a fixed term, usually at a fixed rate of interest.  For example, you might borrow £5,000 over three years at 9%. You therefore know at the outset how much you have to pay back each month, as well as the total cost of the loan, making it easier to budget. Most banks and building societies offer personal loans. They are also available through the growing number of peer2peer lenders, though these are as yet unregulated.   How much can you borrow? You ca...

                          Lone worker Examples of lone workers There are different types of lone workers including:   People working at home such as telecommuters, affiliated marketers, writers ·    Workers in t he energy industry or oil and gas Industry including upstream workers like surveyors, land managers, drillers, and midstream or downstream workers such as refinery workers and drivers · Construction workers · Mobile workers such as traveling salesmen, truck drivers, health visitors, repair technicians · People who work in any type of manufacturing facility · People working outside normal hours such as security guards, cleaners · Utility workers such as meter readers or technicians · Self-employed people · People who work apart from their colleagues such as receptionists, retail clerks, service station attenda...