Guaranteed Personal Loans

When we refer to guaranteed personal loans, we are referring basically to a payday type loan. When you go to a bank or lending institution for this type of loan, you can usually qualify with no credit check. What the lender wants to see is that you have had a decent-paying job for at least three months. With guaranteed loans, usually the funds are dispersed within one business day.

With guaranteed personal loans, the financial institution usually makes a direct deposit in the borrower's bank account and then debits the payments over the period agreed upon in the terms of the loan. This type of guaranteed loan generally carries a high interest rate because there is no credit check.

Individuals with a good credit history would probably opt for a signature loan, which would provide them with a better rate.

Personal Loan

There are two categories of personal loans: secured personal loans and unsecured personal loans – See individual titles below. Homeowners can apply for a Secured personal loan (using their property as security), whereas tenants only have the option of an unsecured personal loan.

Remortgage Loan

A remortgage is changing your mortgage without moving your home. Remortgaging is the process of switching your mortgage to another lender that is offering a better deal than your current lender thereby saving money. A remortgage can also be used to raise additional finances by releasing equity in your property.

You can borrow from £25,000 up to £500,000. Rates are variable, depending on status.

Unsecured Personal Loan

An Unsecured personal loan is a personal loan where the lender has no claim on a homeowner's property should they fail to repay. Instead, the lender is relying solely on the ability of a borrower to meet their loan borrowing repayments. The amount you are able to borrow can start from as little as £500 and go up to £25,000. The repayment period will range from anywhere between six months and ten years. An Unsecured personal loan can be used for almost anything - a luxury holiday, a new car, a wedding, or home improvements. An Unsecured personal loan is good for people who are not homeowners and cannot obtain a secured loan for example; a tenant living in rented accommodation.

Secured Personal Loan

A Secured Personal Loan is simply a loan that is secured against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan; or, have a poor credit history.

Lenders can be more flexible when it comes to Secured personal loans, making a Secured personal loan possible when you may have been turned down for an unsecured personal loan.

Secured personal loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime. You can borrow any amount from £5,000 to £75,000 and repay it over any period from 5 to 25 years.

Personnel loans

Personnel loans come in a few different types. Firstly, personnel loans are loans taken out by business owners to pay personnel. This can happen for a variety of different reasons. In many cases, during certain times of the year (the holidays for example), business owners may need bigger budgets than what they would need in other times. The increase in store hours during that time period means more money with need to be spent on salaries.

Since the increase in salaries will also lead to an increase in profits, it’s fairly safe for a bank to loan money to pay the personnel. These loans are quite common but are usually offered with some kind of security in place. Unsecured personnel loans are a lot more rare but also are offered from time to time. A person with excellent credit may be able to get a signature loan for personnel, but this won’t be possible for most business owners that have poor credit. For this reason, personnel loans for bad credit are usually outside the normal realm of possibility