Cheap LoansTaking out any loan can be a big step but many of us genuinely have a good reason to borrow money. It can often be a cash flow improvement exercise via debt consolidation, an investment in your home or business that will pay off in the long run. Whatever your motivation, is you want your loan to be a cheap loan - because let`s face it none of us want to pay over the odds. We believe that your loan should put you in a better position and whatever the amount you decide to borrow, it must be affordable. At My Sort of Loan we`ll always find you the best any purpose loan to suit your circumstances and requirements from our extensive lender panel. Our loans range from £3,000 to £150,000, may be used for any purpose and can be spread over 36 to 240 months to suit your budget.
In addition we have competitive loans available for good or bad credit profiles. So if you have been offered too high a rate elsewhere, or been let down by another company we may still be able to help you obtain the money you require at a cheaper rate with repayments you are happy with. To find out your options please call freephone 0800 0159 295 / 0330 0536001 (mobile friendly) or enquire online via our short form and let our UK based loan team show you just how cheap your loan could be via a free no obligation quotation.
Compare Best UK Loans
There are various options to establish the best loans available for you in the UK and the way you choose is of course totally up to you. You could spend weeks if not months of your life flitting between bank and finance companies trying to find and compare the best UK loans and even then there is no guarantee that you`ll find a lender with the right product for you. At My Sort of Loan we don`t claim to have all the answers or all the best loans but we do have a wide selection of some the best homeowner loan lenders in the UK to cover many different circumstances. That means that if you choose My Sort of Loan to obtain a cheap loan we won`t just find you any cheap loan, we`ll arrange the best cheap loan to suit your needs from our panel and we will provide you with a free personalised quotation to give you the facts and figures for you to decide if the loan is cheap enough to accept.
Large Home Owner Loans
Of course when looking at a large UK loan the cheaper it needs to be and potentially some of the cheapest largest loans tend to be homeowner secured loans. As a homeowner each mortgage payment can give you a little more equity in your property and this equity can be used as collateral by lenders who offer large UK home owner loans. So how large is large? Well large is relative, what`s really important is that you get the funding you need at a price you can afford and that`s where My Sort of Loan can help. At My Sort of Loan we`ll work with you to get the maximum sized loan for the best price available, our qualified UK loan advisers will advise you on a product which is tailored to your circumstances and requirements to help you achieve your borrowing goals.
- Low Rate Loans from £3000 to £150,000 - Weather you want to borrow enough to buy another property or to improve your current property My Sort of Loan have a plan to suit your needs
- Low Rate Loans for all Circumstances - My Sort of Loan have a wide range of lenders to suit most circumstances so the rate we offer will always be the best rate for you.
- Low Rate Loans for Any Purpose - Weather you want a caravan or a holiday home, My Sort of Loan have solutions for all of your borrowings requirements.
What Affects My Loan Interest Rate
There are many factors that can affect how cheap an interest rate you will get. Headline areas are: the amount you want to borrow, the term you want to pay it over, your credit history and (in the case of secured homeowner loans) the amount of equity that you are able to utilise. Those aren`t the only considerations, there are finance companies with different loan products that have different key lending criteria areas such as: business loans, short term bridging finance and very bad credit lenders (such as multiple mortgage arrears and recent CCJ`s) that deal specifically in credit repair. It can be a bit of a maze out there so whether your scenario is complex or straightforward it may well be worth talking to My Sort of Loan. Our qualified loan advisors will guide you through the twists and turns to try to find you the best rates for the cheapest loans no matter what your requirements or your circumstances are.
Common Uses Of Cheap Loans
So what can you use a cheap rate loan for? Well any legal purpose depending on the type of loan that you apply for and that`s where My Sort of Loan really can help. Cheap loans are often a focus for refinancing / debt consolidation of current credit and debts that are at higher rates. This may be one route if you want to consolidate your existing credit to reduce your monthly outgoings or replace an existing homeowner loan . However it is not always about debt consolidation low rate cheap loans could be used to buy an investment property, renovate your home, buy a chattel or vehicle at a lower rate than the suppliers finance, have cosmetic surgery or even take the holiday of a lifetime - My Sort of Loan will always aim find the right sort of loan to suit your needs.
One less obvious consequence of taking out a homeowner loan and maintain the repayments is to potentially improve your credit rating. If you`ve have credit problems in the past you might look at the different ways of dealing with credit that still needs to be paid. Of course you might want to consider going down the routes of debt management plans or IVA`s and ultimately declaring bankruptcy if things had become too much and you do not have the current ability to refinance. If you do have the potential to look at using a loan to settle bad debts this may enable you to avoid the continued long term impact that an IVA or debt management plan may have on your credit rating as your credit will usually default once in these plans as you are not maintaining the payments due under your original credit agreements.
You may believe that if you take a loan when your credit rating has taken a hit it`s going to be very expensive - right? Agreed, it is going to cost more if you`ve had notable problems (such as recent defaults, mortgage arrears or CCJ`s) but you may be surprised to see that rate gap is not as big as you expected. Furthermore as time goes by and your credit score improves - you may decide to look at refinancing your loan with a cheaper product. Before doing this always weigh up the pro`s and con`s and take into account any fees for paying the current loan off early and any fees associated with the new loan. Why not talk to My Sort of Loan about our credit repair plans and see if you can revive your credit score?