There is a way of receiving loans called peer-to-peer lending or peer loans. The top peer-to-peer lender in the UK is ZOPA which first launched in 2005, introducing an accepted alternative to more traditional loans and investment options. Read more…
“Social Lending” the fair(er) alternative
In 2005 when the global economic crisis hit, people were finding it very hard to get credit from the bank or most financial institutions. This lead to a new form of lending called peer loans, or social lending. Read more…
Cash or financing? What is the better alternative?
Many people would like to be able to pay for their car outright as nothing beats the feeling of not having debt hanging over you or having to make a high car payment each month. When you pay in cash, it eliminates the interest and finance costs. There is another good feeling knowing that the car belongs to you and you can do with it as you please. Furthermore, if you want to sell your car then you can do. If you get a car loan the bank will hold the title, which can make the selling process complicated should you wish to get a different car before you have finished paying for the one you have already. Read more…
Buying advice: Understanding car loans and finance
When buying a car there are a number of options available, personal loans, car loans, secured loans, cash or peer loans. The options available to you will depend on a number of factors. Your credit history, savings, loan amount and loan term are just some of them. Read more…
Improving your credit score with a bad credit loan
Everyone tends to have to make an expensive purchase at some point. It may be you need a new car or need to so some emergency repairs to your home such as a new roof or boiler. Whatever the reason, it is not always easy to get credit especially if you have a bad credit history. This is worst now more than ever due to the global economic difficulties. Read more…
Ways to get out of the “bad credit spiral”
When credit became easier to get hold of many people just kept borrowing more and more money. Transferring balances from credit card to credit card, taking out loans, using overdraft facilities, it was an easy thing to do. When the recession hit, people were being made redundant or at best weren’t getting a pay increase. With the other costs of living such as food and energy increasing rapidly, money has become short for many. The debts however mount up rapidly and all of a sudden people were finding themselves in a lot of debt without a way of repaying their monthly outgoings. Read more…
UK personal loan companies – Who is right for you?
Personal loans are for people who want to borrow a lump sum for a variety of reasons. This could be to buy a car, pay off other debt, a holiday of a lifetime, home improvements or for education. Personal loans can be spent in any way you wish, over a varying time frame and at a lower interest rate than other lending, such as credit cards. Read more…
Remortgaging and secured loans
Home owners can benefit greatly from remortgaging. If the interest rate being paid on a current mortgage is greater than one on offer then remortgaging can lower the interest costs month by month and so significantly over the term of the mortgage. Lower interest rates mean lower monthly payments. If you are looking to simply reduce your mortgage payments but not borrow any more money then remortgaging is a good option. Read more…
Cheap cash in your hand with a payday loan?
A payday loan is a short term loan, usually quite a small amount, which is meant to help the borrower cover his or her expenses until the next payday. Sometimes these types of loans are known as cash advances. In the United Kingdom payday loans are growing rapidly with four times the number of people taking out payday loans nowadays compared to just three years ago. Read more…
Improve your credit score for a cheaper personal loan
If you are one of the many people who have had difficulty paying bills recently you may be wondering how you can improve the damage suffered to your credit rating. Money lenders look at your credit rating to see if you have defaulted on payments, how much debt you are in or if you have any County Court Judgements. If they see that you are behind with your repayments on your mortgage repayments, your credit rating will suffer and you will find it harder, and more expensive to get credit. If you considering personal loans then the better your credit history the cheaper your loan will be. This is because the better your credit history the less of a risk you pose to the money lenders. Read more…