Although there are lots of different loans available, the range of loans types is actually quite small. The different types are outlined below. For more detail on each type click on the relevant link in the left hand menu bar.
Secured Loans are guaranteed against a property. Simply put, if you fail to pay back the loan the lender can re-possess your house to recover any outstanding debt.
Unsecured Loans are a way of borrowing money without putting your home at risk as the loan company has no automatic claim to your property if you fall into arrears.
Debt Consolidation Loans are a way to group credit from a number of different sources in one place . The main attraction of debt consolidation loans for most people is lower monthly repayments and reduced complexity in managing their finances. Debt from credit cards, secured or unsecured loans and overdrafts can be considered for inclusion. But be aware that these benefits come at the price of an increase in the Total Amount Repayable.
If you're looking for a Bad Credit loans, get ready for a shock. Lenders love you, because they have an excuse for charging interest rates no other customers would accept. The first thing to do is check whether you can fix your credit rating problems with a free service like Experian Credit Expert. If not, consider a loan designed for people with CCJs or other impaired credit. If you reliably pay the loan off it can help to build or mend your credit rating.
If you need more information to decide which loan is the best for you, then check out
TheRateTart Guide to Loans
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