A Complete Guide to Equity Release

February 11, 2023

Retirement or old age brings the unavoidable worry of having enough money to lead a comfortable life.

This is when you most need it, and you might have the least options for gaining access to cash. Life for the elderly is not easy.

To ensure that you get to do what you wish, especially after spending decades working hard, you must have the financial tools to do so.

Thankfully, equity release can bring you the much-needed relief you look for during your later years.

Equity release is a wide range of products that let you access equity or cash tied to your home.

You can take this money released either as a lump sum, several smaller amounts, or a combination of both.

This equity release can be then utilised for paying off debt, mortgage, home improvements, holidays, or simply living a fun life.

However, managing finances can be challenging. It is easy to feel lost between all the paperwork and difficult to understand financial terminologies and jargon, making it tough to understand what exactly equity release is and whether it is good for you.

Managing finances is not a one-size-fits-all kind of game. Every situation is different, and every home’s financial solutions must also be planned accordingly.

It is quite possible that equity release is a great idea for your neighbour but not so much a useful thing for you. This is why it is imperative that you first thoroughly understand everything about equity release and then move ahead with it.

To help you understand every minute detail about equity release, we have put together this comprehensive knowledge base that will enable you to take a more informed decision with long-term implications.

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What is equity release?

In recent years, house prices have skyrocketed. The overall cost of living has also increased, making most people house-rich but cash poor.
This means they have a huge value attached to their homes but don’t have liquid money to make life easy and comfortable.
This situation has made a large part of the population in the UK uncomfortable and unsure about using up their remaining liquidity, which is again not a good sign for the overall economy.
This is why equity release is becoming popular amongst the mature population. They see it as a viable option to convert some of the value attached to their homes into cash, without having to move anywhere.
The only prerequisite for taking out the product secured against your property is that you must be above 55. Equity release is quite similar to a mortgage.
However, lenders are paid back whenever the house is sold. In equity release, there are no repayments to be done each month.
Instead, a certain amount of interest is added to the loan that is repaid in case of death or if you go into any kind of long-term care. This can increase the interest load, so it is better to seek financial assistance before taking equity release.

Who is eligible for equity release?

To be eligible for equity release, you must fulfil specific requirements. These include:

To qualify for lifetime mortgages, the individuals or the couple must be at least 55 years old.
To be eligible for a home reversion plan, you must be at least 65 years old.
Your house should be in a certain condition and have a certain market value.
You can be eligible for equity release even if you already have a mortgage or loan on your property depending on the amount outstanding on that mortgage or loan. These need to be paid off at the time of taking equity release.
If you have any dependents living with you, they will need to sign a waiver stating that in case of the death of the owner or if the owner moves into a care facility, they will no longer be eligible to stay in that property

How much can you borrow through equity release?

If everything is in place, you can borrow up to 60 per cent of the total value of your home. However, several conditions play an important role in how much money you can finally borrow.
These factors include your age, your house’s worth, your health condition, etc. When taking out a product, your pay percentage typically increases with age.
So, you must be mindful of all these factors before finalising how much you wish to release and what kind of finances you plan based on the amount.

Types of equity releases

Equity releases come in two forms – lifetime mortgages and home reversion plans.
A lifetime mortgage is the most common type of equity release, where you borrow a lump sum amount of money secured against your home.
You remain the homeowner and can continue to live in the house for as long as you wish.
You are responsible for the maintenance of the house, its upkeep, repairs, bill payments and council tax, etc. You don’t need to pay anything monthly.
However, the total amount you need to pay increases as the interest compounds. The sale of the house finally pays the total amount owed if the owner dies or moves into long-term care.
On the other hand, the home reversion plan is comparatively less popular. A reversion plan works by a homeowner selling the entire property or a part of it to a home reversion provider.
The total value of this sale is usually placed at 20 – 60 per cent less than the property’s total market value.
You get a tax-free lump sum of money or regular payments of a smaller amount that you can utilise the way you want. You can continue to live in the property until you permanently move into residential care or pass away.
In this case, the property is sold, and the money is divided between the beneficiaries and the home reversion provider as per the percentages owed.

Is equity release a good idea?

Equity release has been designed to provide homeowners with several safety measures for getting money. These include:

The homeowners can stay in the house without paying any money until they pass away or move to long-term care. This kind of facility is unavailable if you avail of retirement interest-only mortgages.
A no negative equity is a clause that ensures that the amount you finally owe doesn’t exceed the total value of your property.
Homeowners are encouraged to take an independent financier’s advice who will provide an unbiased and impartial opinion about what is good for them.
Equity release may not always be a good idea for you. This will depend on you and your circumstances.
An equity release can be a good option for you if:
You don’t have viable sources of income, and you don’t earn enough to meet your requirements.
If you are unable to or do not want to downside.
You have no beneficiaries, or if you are alright about reducing the inheritance amount that your family will receive.
If your financial advisor assesses all your circumstances and feels that an equity release is a good option for you.

What are the Advantages and Disadvantages of equity release?

Equity release can be a life-altering decision for you as it can make your life more comfortable and provide you with enough money to fulfil your needs and desires.
Even though the popularity of equity release has increased a lot due to soaring home prices and plummeting interest rates, there are some downsides to it as well.
It is important to know the disadvantages before you make a final call. Here are the advantages and disadvantages of equity release:

Advantages:

It enables the fulfilment of retirement dreams and financial independence.
You can stay in your house for the rest of your life or until you permanently move into a care facility.
You are not forced to make any repayments as the loan is repaid if you move into a long-term care facility or pass away.
The loan amount never exceeds the total market value of your home. This works really well if the house prices crash.
You can give cash to your near and dear ones before you pass away.
It also allows you to save up on inheritance tax.

Pitfalls of equity release schemes

The interest rate is fixed at all times. You might have to pay a lot more than you actually borrow.
The inheritance amount you leave for your family is reduced to quite an extent as the lender is to be paid first, and then the beneficiaries are shared the remaining amount.
If you change your mind midway and wish to pay off the interest rates, you will have to pay a hefty penalty.
If your circumstances change or your partner passes away, you might find it difficult to continue staying in the same house. If you wish to move into a smaller house, you will not be able to do so.
It can also reduce the means-tested benefits you might be entitled to.
The condition of your house is accounted for when deciding whether you will get the equity release.

How to apply for equity release?

Applying for equity release comes in different stages. These stages or steps have been designed to tell you whether equity release is good for you and how you should approach it.

Seek professional advice: You must seek professional advice from someone specialising in equity release. You can choose an adviser with a specific lender or a broker who will compare all the market products and provide you with a suitable available option. They will help you understand important information like your age, health, lifestyle, finances, and family, what you are trying to achieve through equity release, and if you have other options to raise money. This will help you get a fair idea of how helpful equity release will be for you.
Seek family advice: You must speak to your family before deciding whether to take the equity release money or not. The debt that comes with equity release can significantly affect the inheritance you leave for your family members. They might have other ideas. Or they might want to pay off the interest rate to curb the total amount from spiralling out of control.
Forms and paperwork: The next step involves submitting your application. Getting an experienced solicitor on board for the entire process will be good. The equity release provider will review your application, do credit checks and identification, and then arrange for a surveyor to evaluate and value your property. The lender then issues the equity release and sends a copy to the solicitor, who will carry out the legal side of it before moving ahead. Once all legal aspects are cleared, you can get your money.

How much does equity release cost?

Equity release comes at a price, and you must consider every factor before going for it.

Interest rates: The interest rate on equity release is the biggest cost factor you must consider. Usually, the interest rates keep fluctuating. However, you can find them anywhere between 2 – 6%. The most optimal equity release interest rates in 2023 have been marked at 6.97% for a mortgage or loan to a value of less than 20%. Now some options and products allow you to pay off the interest payments, reducing the total amount of loan you will eventually pay.

Set-up cost: Releasing equity also requires you to bear some set-up costs. On average, this could range between £2,000 and £3,000. The application fee comes to around £600, the customer’s legal fees can be around £500 to £600, the advisor’s fee is approximately £1000, and the valuation fees can vary according to the property.

Early payment fees: It is not easy to handle equity release as it has several aspects. If you wish to pay some debt off in advance, you will have to pay around 25% early-repayment penalties.

What can equity release be used for?

Once you have the money, you can use it as you wish. However, it is advisable to utilise the money judiciously as there are fewer and fewer earning options. Here are some smart ways to use it:

Pay off mortgage: This is one of the most common reasons for equity release. Paying off debts will lift the monthly burden after retirement.
Home or garden improvement: Homes always require repair and maintenance, which comes at a price. The equity release money can be smartly used to fulfil these requirements.
To boost income: After retirement, your income could be limited. So, you can utilise the drawdown from equity release for monthly top-up to your existing one.
Passing on as an inheritance : You can use the deposit from equity release and pass it on to your relatives as an inheritance.
To fund holidays or large buys: Spending on holidays or buying something big can be done with the money you get from equity release.

How does bad credit affect equity release?

It is possible to get an equity release even if you have a bad credit score.
This is possible because the lender is not looking for you to pay the money but to get the money back from the market value of your home.
However, they might want you to clear every existing mortgage, settle any legal proceedings or court judgments, charge orders, or individual voluntary arrangements in advance, clear all arrears on all unsecured debts beforehand, and be free of all bankruptcy charges, if any.

Will I continue to be the owner of my property even after the equity release?

Usually, you remain the legal owner of the home even after the equity release.

In some cases, especially in the case of home reversion plans, you need to sell some or all of the value of your home to an equity release provider.

Can the house be sold after taking equity release?

Yes, you can sell your house after equity release. However, it is good to first check with your equity release provider.
If your house meets all the criteria it sets out, you can move and take your plan with you.
There are some additional conditions as well that might require you to repay some amount of the equity release.
If your house is not worth the value enough to provide security for the debt or if your new home is not acceptable to the lender, you will need to repay part of the equity release.

Can my house be taken away with equity release?

Typically, you are still the house owner and can stay there until you pass away or move to a permanent case facility.
However, suppose you take the retirement interest-only mortgage, where you agree to pay interest-only payments every month. In that case, your house can be repossessed if you fail to pay the monthly interest.
So, is equity release safe? It is, especially when you research and make the right decisions.
To ensure this, you can utilise one or more of the various equity release comparison sites and arrive at a favourable conclusion. It will also help you in getting a good price for your property.
How long it takes to get equity release depends on the kind of equity release lender you partner with. So, it is also important to choose wisely there.
If you have all your bases clear, equity release is an excellent option to secure your retirement and ensure that your life post-retirement is comfortable and financially secure.

Personal Loan Eligibility – Check If You Are Eligible

February 9, 2023

We all need extra money at some point in our lives. It could be to repay existing debt, pay for home improvements, buy a new car or invest in something important; money requirements can spring up at any time in your life.

During times like these, we need a loan that will give us a lump sum amount of money and help us out of the situation.

We often scamper through options and look for the one suited to our situation, and a personal loan is often the option that comes to our mind.

A personal loan often helps you borrow more money than you can on your credit card, and you must repay the amount in easy monthly instalments.

However, a personal loan might not always be the right choice for everyone.

So, it is advisable to take a closer look at all the requirement offers, terms and conditions, and even the monthly instalment amount before taking up a personal loan.

You can also use a loan eligibility checker or a personal loan eligibility checker to know whether you qualify for the loan.

Additionally, a personal loan comes with its own advantages and disadvantages that you must weigh before making a final call.

In this article, we will tell you everything you need to know about personal loan eligibility, what important things you must look into, whether a personal loan is good for you, and how you can improve your chances of getting a good one.

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How important is Your Credit Score to Get a Personal Loan?

One of the first and foremost things lenders look at before giving you a loan is your credit score.

This includes your credit card history. This credit score is then used to determine the risk of lending you the money.

It also helps lenders evaluate whether you are eligible for a personal loan, the total amount of money you can borrow, and the interest rate applied.

The higher your credit card score, the more likely you will get a lower-interest loan.

Usually, lenders in the UK look at the following three main agencies before giving a personal loan – Experian, Equifax and TransUnion.

These agencies collect and utilise data from various sources like lenders, utility suppliers and other publicly available information.

Such information includes how long you have been staying at your current address and your repayment history.

The credit score is also important as it can be a deciding factor in a lender refusing you to lend money.

This could happen for other reasons also, such as you have recently been declined credit, you have a pending court judgement (CCJ), or the lender feels that you are incapable of repaying the loan.

You can check your credit report to know why you did not get the loan. But fret not, even if a lender refuses to lend the loan, you can still get it if someone agrees to be your guarantor for a guarantor loan.

The guarantor promises to pay the loan if you cannot pay for whatever reason.

The guarantor must know all the terms and conditions and the obligations they will be under. However, a fundamental way to ensure you don’t face any issues while wanting to get a personal loan is to improve your credit score.

This will make getting more money at a lower interest rate easier.

How to Choose a Personal Loan?

Taking a loan means you not only have the liability to pay a certain amount of money as an instalment every month, but it also means that you additionally have to repay the interest as well.

That is why it is important to choose the right loan to get the money you need while managing the repayment without any financial struggle.

Whether for home improvement, buying a car, making a sizeable investment or purchase, fulfilling unplanned expenses, or consolidating debts, loans can make your life easy.

So, here’s how you can make the right choice:

You must ensure what APR you will be charged, so you know how much you will be required to repay.
You must never borrow more than you need.
Unsuccessful loan applications will harm your credit score, something you must be very mindful of as, in turn, it will puncture your ability to get loans in the future.
You must check if the loan has fixed or flexible interest rates. Choose the one that you feel more comfortable with.
An early repayment penalty comes with certain kinds of loans. You must check this factor before finalising a loan.
Check for an arrangement fee.
With the banking sector providing multiple options for personal loans, there is much other information to sift through. It can be confusing. Take your time and do thorough research.

How to Check Your Eligibility for a Personal Loan?

It is wise to check how eligible you are for getting a loan before you apply for one. This will increase your possibility of getting one.

Keep in mind that having multiple hard credit checks in your profile in a short period of time can reflect on your credit score. You can use several types of loan checkers to check your eligibility.

There are even bad credit loan eligibility checkers that will give you an idea about your probability. Agencies like Experian, Equifax, and TransUnion will help you get the numbers right.

They will provide a free statutory report by law. This report can also be accessed from their websites as a credit report.

Knowing what you will use the loan for is another important piece of information that you must keep handy. Most lenders like to know your plans and have clarity about the money being borrowed.

They prefer giving money for objective and practical reasons. Personal Lenders will probably not give you any loan for reasons like business, investments, timeshares, buying property, or gambling.

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What Credit Score Do You Need to Get a Loan?

Your credit score plays a vital role in deciding whether you will get a loan. The better your credit score, the higher the chances of your loan application getting accepted.

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Experian	881 and above	721 to 880
Equifax	531 and above	439 to 530
TransUnion	604 and above	566 to 603

While your score is the main deciding factor, other details will also play a crucial role in ensuring you get what you want.

Lenders look for details that enable you to gauge how well you have managed your finances in the past and get a larger picture of whether you can pay the money back.

The kind of information they look for includes details about your credit agreements, any financial links you might have with other people, if you have missed any payments in the past, CCJs, bankruptcies, individual voluntary agreements, etc.

Different lenders have their own way of calculating their costs. So, if one lender refuses to give you a loan, someone else might find you fit enough to lend.

However, be mindful of not applying for too many loans quickly.

Your loan application reflects on your credit score.

If lenders see too many applications, they might think you are struggling financially or trying to get more loans than you can afford.

How Can You Improve Your Credit Score?

A good way to ensure you get the loan is to check your lender’s requirements before applying. Although there is never a 100% guarantee that you will get the loan, if you fulfil the basic requirements, you surely give yourself a good chance of qualifying.

Additionally, if you don’t have a good credit score, there are things you can do to improve and increase your chances of getting your loan approved.

These steps include not applying for too many loans within a short period of time, clearing off all your debts within your stipulated deadlines, not missing out on any payments, using only 30 per cent or even less of the available credit, keeping all your old accounts open and timely deal with delinquencies, etc.

How to Successfully Apply for a Personal Loan?

When in need, you might want to ensure that your loan application is complete with the right information and shows you in good light.

Your loan application getting rejected might show on your credit score and lower your chances of getting the loan approved.

That doesn’t mean that you will not get it at all. There are tricks and tips that you can follow to make your loan application a strong contender.

Plan your budget: First, check if you can do without taking a loan. If you need that money, can you save up quickly? If you must, take the as little loan as you can. Try to add something from your savings to reduce monthly instalments, etc.
Research & weigh your options: The market offers many options, and if you research well, you might get a great deal. Figure out what kind of loan you are looking for. Although most personal loans are unsecured, you can also go for a secured loan option if that works out well for you. Weigh all the options and then make a decision.
Check your credit score: Checking your credit score will enable you to understand your loan eligibility. You can either take professional help or check your score through a loan eligibility checker in the UK to understand where you stand.
Build your credit history: A bad credit score is the most common reason for loan rejection. Checking your credit score will give you an idea of where you can improve. Pay your bills on time, minimise your debt, etc. This will show that you are a reliable consumer, allowing lenders to be more confident in you.
Review your outstanding credit: It is wise not to have too many credit cards or other loans. This will reduce your chances of loan approval. Lenders would feel wary of lending you money since you would already have several other credits to pay for. Minimise these credits to increase your chances of loan approval.
Compare lenders: Different lenders have different sets of rules for lending money. It is a good idea to compare lenders. You are more likely to find someone who fulfils all your requirements and gives you a good deal.

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Do I Really Need a Personal Loan?

This is a question worth asking. You must be absolutely sure that you need a loan as it is a long-term financial commitment that will stress your monthly finances.

It is a commitment to pay a certain amount of money over a period of time while the interest rate accrues.

Your financial condition might change during this time, and you might not be in the same condition to pay the monthly instalments.

This is why it is also important to plan your finances.

How will you repay the loan if you lose your income source? You might take some amount out from other insurance covers, etc., but that will only add up to the overall cost of the loan.

It is also worth considering the term of loan repayment. The longer the term, the lower the monthly instalment amount. However, you will end up paying a larger amount.

You can think of paying off your loan in advance. But do confirm early repayment penalties as certain loans come with that clause.

Taking a personal loan is a big financial commitment. Therefore, you must weigh all the options before you go for it. Firstly, make sure that you need the loan.

If you do, go for taking a loan, do your research, get your finances in place, have your credit score sorted and find a lender who fulfils your requirements while providing the necessary support.

Taking a personal loan is a great way of supporting your financial needs. And if you work smartly, you can make the most of this support system.

Wedding Loans – The Ultimate Guide To a Stress-Free Wedding

January 25, 2023

Don’t worry just yet if you recently got engaged and are trying to figure out how to pay for your special day. That’s where wedding loans come in. While we generally advise saving for your wedding before it happens, we are aware that this isn’t always an option.

It is possible to finance your wedding, but there are several things you should know before you delve into the world of wedding loans. For this reason, we’re explaining how wedding loans function. Also Their advantages and disadvantages, and how to apply for one!

How Do Wedding Loans Work?

Wedding expenses are high. It’s your big day, something you’ll hopefully only do once. It is a once-in-a-lifetime opportunity to have everyone you care about in one place. It is not something people like to skimp on.

Wedding costs may easily reach tens of thousands of pounds, and they frequently fall in line with other significant expenditures. For example, if you’re getting married, you’re probably also moving in together, expecting to go on a honeymoon. You’re possibly considering starting a baby…

It’s critical to understand that legally speaking, wedding loans don’t actually exist. When we say “wedding loans”, we actually mean – a personal loan that you use to pay for your wedding. The most typical loan type is this one.

Once the money has been deposited into your accounts, the lender doesn’t actually care how you choose to use it. But You must be clear with your lender about what you’re borrowing for when they ask you. Whether you use your wedding loan for a honeymoon or the actual wedding, it doesn’t really matter..

So to sum it up – wedding loans are actually a type of personal loan.

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What Are the Advantages And Disadvantages Of Wedding Loans?

It’s time to discuss the advantages and disadvantages of the two sorts of loans you can obtain now that you are familiar with their fundamental differences. These will enable you to decide whether wedding loans are appropriate given your financial circumstances.

Advantages Of Wedding Loans:

Convenience – To reserve your wedding date, some businesses ask for a deposit. A venue, a caterer, a photographer, a planner, and a florist may all want deposits. A wedding loan can help with these deposits if you don’t have much cash on hand.
Easy to obtain – As long as your financial records are in order, applying for and being approved for wedding loans typically only takes a few minutes.
Get money quickly – After being accepted, the money is often put into your account within a few days. Even some lenders will deliver it to you in less than 24 hours.
Reduced interest rates – Using a credit card for some wedding expenses is OK, but wedding loans typically have lower interest rates. As little as 5% is being discussed as opposed to 14% to 22% for credit cards. Particularly if you have good credit, this is true.
Improve credit score – Borrowing money is a fantastic approach to raising your credit score. That is if you are confident in your ability to repay the loan on time. Once you prove that you can manage your money and take on a wedding loan, you increase your chances of getting another loan down the line with even better interest rates

Disadvantages Of Wedding Loans:

You pay interest – When it comes to debt of any kind, especially loans, interest is almost always unavoidable. This is another reason why it’s crucial to pay it off as soon as possible.
Extra debt – The thought of beginning a marriage in debt is enough for many couples to decide against taking out a loan. Examine your willingness and ability to manage a monthly payment for a number of years.
Difficulty of other loans – This isn’t a major negative if you can quickly repay the debt. However, lenders can offer you far less than you want or even reject your wedding loan application if you take years to pay off a loan. What if you decide to apply for another loan to buy a house or a car?
The craving for more – You can feel as though you have unlimited funds when the money appears in your account. This way of thinking may lead you to overspend or blow the hard-earned wedding money.

How Can You Get Wedding Loans?

It’s time to apply if, after debating the advantages and disadvantages of wedding loans you determine that it is worthwhile. To help you prepare, we’re breaking down the procedure you’ll follow step by step.

Here is the most common wedding loan layout that takes time:

Check your credit score – Before applying for a loan, the first thing you should do is check your credit score. You can estimate how much you’ll be entitled to get by doing this. Additionally, it will assist you in anticipating interest rate changes.
Get prequalified – Most lenders will allow you to prequalify in order to determine your loan eligibility. You only need to give some basic financial data. This is crucial so that you can decide whether it’s worthwhile to apply without damaging your credit. This phase is referred to as a soft enquiry by many lenders.
Compare wedding loans – Compare interest rates, fees (such as late fees, early payoff costs, or insufficient funds fees), and the loan term, which is the period of time during which you are required to make loan payments.
Application completion – Once you’ve determined which lender suits your needs, it’s time to fill out an application. Before deciding whether you’re approved, they will examine your credit, request official financial evidence, and possibly ask you a few questions. When your application is accepted, the funds will probably be directly sent to your provided bank account.

This is the long version which can waste your valuable time. So without further ado, this is the new method which is undoubtedly faster!

The 3-Step Procedure That Only Takes MINUTES To Get A Wedding Loan:

Tell us your desired amount and the term – We need to know what your desires are so we can help you in fulfilling them.
Fill out basic information form – Fill out a quick form where we can get a more detailed view of your “perfect wedding loan”. This will enable us to do everything we can to deliver your expectations.
Explore multiple offers within seconds – It talks for itself. After filling out the quick form you get good wedding loan offers among our partners.

It is as simple as that!

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Why Use LoanTube For Wedding Loans?

LoanTube is a loan comparison company which was created to help people get good wedding loans.

We have multiple UK-based lenders that are of the utmost reputation.

As we both know – the internet is extremely powerful. It can gather an immense amount of information in as little as a microsecond, without breaking a sweat. LoanTube managed to harness this astounding power and we directed it to help people with their wedding loans.

Our proven state-of-the-art systems can help you get a loan in minutes, in 3 simple steps. As you previously saw.

With us, the rate you see is the rate you get! No fancy big numbers that will not only waste your time but make you hate lenders… We don’t want to waste your time or your resources.

On top of that our partners do soft credit checks so they DO NOT HARM your credit score!

Those are some of the benefits you get by getting a wedding loan from LoanTube. You can get your desired loan without further ado and avoid making unnecessary mistakes. Just click here and you’ll be settled!

Remember that our service comes at no charge to you and that you don’t have to accept any of the quotes we provide you if you don’t like them.

Personal Instalment Loans – Complete Guide

January 22, 2023

The vast majority of loans made to borrowers are instalment loans. Whether for personal or business purposes, most of them qualify under this category. Any loan that is paid back in planned instalments is considered an instalment loan.

As the name suggests, an instalment loan is simply a financial product that you can repay in instalments over a period. Generally, people who have large expenses to borrow an instalment loan as it allows them to make the payments in fixed monthly instalments. The credit provider will set an interest rate on the loan that you decide to borrow. The rate of interest depends on a variety of factors. Some of the most common factors that will be assessed by the lenders are your income, expenses, debt-to-income ratio, credit score, loan amount, term, and current employment status.

Maximise your options: Compare and apply for loans below with LoanTube

Apply Filters

1 Years — 20 Years

6% — 1333%

£250 — £100000

6% — 1333%

1 Years — 20 Years

Loan Amount

£4000 -

£20000

Norwich Trust

Loan Term

1 -

10 years

☆☆☆☆☆ 4.8/5

4.8/5

Representative APR

31.90%

Minimum Age

21 Years

Apply Now

Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

☆☆☆☆☆ 4.8/5

4.8/5

Norwich Trust

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Apply Now

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

☆☆☆☆☆ 4.5/5

4.5/5

Representative APR

28.96%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.5/5

4.5/5

Evolution Money Loans

Loan Amount

£5000 -

£100000

Loan Term

1 -

20 years

Representative APR

28.96%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Loan Amount

£1000 -

£10000

1Plus1 Guarantor Loans

Loan Term

1 -

5 years

☆☆☆☆☆ 4.4/5

4.4/5

Representative APR

39.90%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.4/5

4.4/5

1Plus1 Guarantor Loans

Loan Amount

£1000 -

£10000

Loan Term

1 -

5 years

Representative APR

39.90%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Click here to get a Personal Instalment Loan in minutes!

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How do these Instalment Loans work?

When you borrow an instalment loan, you agree to repay it in fixed monthly repayments until you pay off the entire amount that you’ve borrowed along with the interest. The repayment period of the loan may last for years and sometimes for months. Choose your repayment period carefully keeping in account your affordability.

You will have to fill out an online application form with necessary details such as your address, employment status, income, expenses, how are you planning to spend the funds if you receive (purpose of the loan), and the loan term. This can be done in minutes.

Once you apply, lenders will assess your loan application and they will inform you of their decision after a careful assessment. Your creditworthiness will be reviewed to determine how much the credit provider may lend you and at what terms.

Click here to get a Personal Instalment Loan in minutes!

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Types of Personal Instalment loans

Instalment loans are generally categorized into two types – secured loans and unsecured loans. Secured loans are those that you can borrow by securing against your property. That means you will be using your home as collateral to borrow a secured loan.

While with an unsecured loan, you can borrow money without providing any collateral to the credit provider. If you make payments in instalments over a specified period, then your loan is an instalment loan, irrespective of the type.

Auto loans, home loans, personal loans, and student loans are examples of other common instalment loan types. Almost all instalment loans are fixed-rate loans. This means the interest rate charged during the loan’s term is fixed at the time of borrowing. Except for – the mortgage.

Mortgages can occasionally be variable-rate loans where the interest rate increases during the loan’s period.

Personal loans

These are instalment loans that you can repay over time in fixed or variable monthly payments. Whether you will have to pay in fixed monthly instalments or variable instalments depends on the type of interest rate that you have agreed to. You can use a personal instalment loan for a variety of reasons including wedding and home improvement. As this is an unsecured form of borrowing, the rate of interest is comparatively higher than a secured loan.

Mortgage

When you take out a mortgage, you agree to pay the lender money along with interest every month till your mortgage is paid off. This is also an instalment loan as you are repaying the debt in parts. If you fail to repay your monthly mortgage payments, the lender may take possession of your property. They may sell it off to recover the money they owe to you.

These are two of the most common types of instalment loans. Now that you understand the differences between personal instalment loans and mortgages, we can go deeper.

Click here to get a Personal Instalment Loan in minutes!

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Pros and Cons of personal instalment loans

With regard to the loan amount and repayment period that suit the borrower’s financial situation. Personal instalment loans are adaptable and simple to customise to the borrower’s unique demands. With these loans, the borrower is able to acquire funding at an interest rate that is significantly lower than what is often offered with revolving credit financing, such as credit cards. By doing this, the borrower can avoid making a sizable cash outlay and instead maintain more money on hand to use for other things.

Pros:

Ability to finance big purchases
Payment amount typically stays the same throughout the loan term
Usually possible to save interest charges by paying off loans early

Cons:

Loan fees can be high
Credit can be damaged due to late or missed payments
Potential to borrow more than needed

Personal instalment loans and credit score

When you borrow a loan, the credit provider sends information to the credit bureaus. All your activities surrounding the loan that you have taken are recorded and sent to the bureaus for an update. The credit bureaus update your credit report according to the information they receive from the lender.

One good way to improve your credit is to repay instalment loans on time. Your credit score is mostly influenced by your payment history, and a long history of prudent credit utilisation is advantageous to your credit score.

If you don’t make your payments on time or you default on the loan. That will also raise a red flag with lenders and lower your credit score.

Personal instalment loans comparison

Loan comparison can help you make a good decision when it comes to choosing a loan.

No matter what loan you want to take, comparing loans is often the smartest thing you can do!

You need to check your eligibility rate to compare loans from multiple UK lenders. Then you need to sort it out manually… Just to find a good deal deal for you.

This can take a whole day, maybe even a full week. It is an unimaginably daunting process, especially if you have a problem with numbers.

Nevertheless, this still is the safest thing and it is almost mandatory.

Going for the first loan that you see is like buying a random, old car…

The chances of it being an amazing deal are really slim…

But there is a method that can fix this. It makes loan comparison as easy as ABC and you do it in just 3 simple steps…

Click here to get a Personal Instalment Loan in minutes!

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Why use LoanTube?

LoanTube is an online loan comparison service based in the UK. It was created to save people as much money as possible. To prevent them from the sales tactics you encounter daily… Online services are the fastest way to borrow personal instalments loans. It may actually be a good option (although we’re not saying it is, we encourage you to always go through your options carefully).

Although we can’t guarantee we’ll find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple UK-based lenders.

Comparing loans with us is done in three simple steps and you can finish everything in just a few minutes, getting a good deal out of all the deals from our lenders offers.

This is possible because the internet is extremely fast and extremely efficient, our state-of-the-art methods utilize and amplify the power of the internet to find loan offers as fast as possible.

Comparing loans can potentially save you hundreds of pounds, depending on the loan you want to borrow. Without further ado, you can check your loan options and use our modern loan calculator to search through personal instalment loans.

We do soft credit checks only, to make sure your credit score doesn’t get affected.

To start your application for a personal instalment loan, please click here.

Remember that our service comes at no charge to you and that you don’t have to accept any of the quotes we provide you with if you don’t like them.

Guarantor Loans UK Direct Lenders – Complete Guide

January 21, 2023

When you search for guarantor loans uk direct lenders on the internet, there can be a lot of confusion…

Guarantor loans may not be new, but their recent expansion is undeniable. It has given access to those who are having trouble getting credit.

They might not have accumulated enough credit history. They might have made some mistakes in the past that have contributed to a lower credit score.

Guarantor loans have lower annual percentage rates (APRs) since their repayment terms are longer than those of payday or instalment loans.

A guarantor is a party who guarantees repayment of the loan in the event that the borrower defaults on the terms of the loan. Lenders can avoid giving the borrower’s creditworthiness as much weight by having a third party guarantee the repayment plan.

Let us translate it for you. A guarantor guarantees that the guarantor loan will be paid. As simple as that.

Maximise your options: Compare and apply for loans below with LoanTube

Apply Filters

1 Years — 20 Years

6% — 1333%

£250 — £100000

6% — 1333%

1 Years — 20 Years

Loan Amount

£4000 -

£20000

Norwich Trust

Loan Term

1 -

10 years

☆☆☆☆☆ 4.8/5

4.8/5

Representative APR

31.90%

Minimum Age

21 Years

Apply Now

Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

☆☆☆☆☆ 4.8/5

4.8/5

Norwich Trust

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Apply Now

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

☆☆☆☆☆ 4.5/5

4.5/5

Representative APR

28.96%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.5/5

4.5/5

Evolution Money Loans

Loan Amount

£5000 -

£100000

Loan Term

1 -

20 years

Representative APR

28.96%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Loan Amount

£1000 -

£10000

1Plus1 Guarantor Loans

Loan Term

1 -

5 years

☆☆☆☆☆ 4.4/5

4.4/5

Representative APR

39.90%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.4/5

4.4/5

1Plus1 Guarantor Loans

Loan Amount

£1000 -

£10000

Loan Term

1 -

5 years

Representative APR

39.90%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Click here to get a Guarantor Loan in minutes!

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How do guarantor loans actually work?

It is no secret that “ guarantor loans Uk direct lenders “ actually mean normal guarantor loans… But how do they work exactly?
There are 3 parties – The lender, the borrower and the guarantor. The guarantor pays the loan to the lender if the borrower cannot. It is that easy.
Guarantor loans are often offered for sums between £1,000 and over £10,000. Repayment terms can range from one year to more than five years in some situations. The fact that there are three parties to the agreement—the lender, the borrower, and the guarantor—distinguishes them from conventional unsecured loans. By agreeing to the credit agreement, the guarantor pledges to pay back the loan. Yes, they have to settle it if the borrower is unable to adhere to the repayment schedule.
There are also much smaller guarantor loans available, where a borrower can submit an application for anything between £50 and £750 over a brief period of time. These must be paid back in instalments, unlike payday loans. Daily interest is levied on this type of guarantor loan, therefore prompt repayment might reduce the cost of the loan.

Click here to get a Guarantor Loan in minutes!

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If you’ve googled “ guarantor loans UK direct lenders “ read THIS

So should you take these infamous “ guarantor loans UK direct lenders “? This highly googled term can come back to bite you… So please read this before you continue.
It might be challenging to come up with the cash for bigger purchases like a new automobile if you’re new. Whether it is to the credit market, if you lack appropriate credit history, or have a credit rating… You might want to think about a guarantor loan if you find yourself in this situation. It might make it possible for borrowers with less favourable credit histories to obtain greater loans than they should. This is one of the biggest advantages when it comes to guarantor loans
Guarantor loans typically have lower interest rates than other unsecured loans. They are used if there is a concern about a borrower’s credit history. APRs range from 45% to 50% on average for loans. A guarantor loan could be a quick fix if you need money urgently… If you’ve had problems obtaining other forms of credit like credit cards or unsecured loans. Guarantor loans are often paid straight into a bank account within 24 hours of the application being submitted, provided you match the eligibility requirements.

Pros and cons of guarantor loans

Now that you understand guarantor loans, it’s time to give you some statistics. Did you know that “ guarantor loans uk direct lenders “ is a term over 1000 people search DAILY?

It is important not to take more loans than you can handle, so here are the pros and cons.

Pros of guarantor loans:

Guarantor loans provide access to credit to those with below-par credit histories or low incomes.
The availability of guarantor loans is becoming more widespread due to lenders who cater to personalised needs.
In contrast to short-term loans and payday loans, guarantor loans have lower interest rates.

Cons of guarantor loans:

The guarantor’s responsibility will be to repay the loan, in part or in full, if the borrower cannot, regardless of their financial situation.
If the guarantor cannot repay after the borrower defaults, it may negatively impact their credit score.
The borrower’s failure to pay could be mentally and financially stressful for the guarantor.

Congratulations. You now know the advantages and disadvantages of guarantor loans!

Click here to get a Guarantor Loan in minutes!

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Who can be a guarantor?

Almost anyone can act as your guarantor. They can be a family member, a friend or a co-worker. They will have to be at least 21 years old and have a good credit history. A loan guarantor must have a stable source of income and if the borrower fails to repay, the guarantor has to take the lead. They need to repay the debt if the borrower fails to do so.
If you are considering asking someone to become a guarantor, or someone you trust has asked you to become their guarantor – think twice. Assess the financial situation and loan repayment affordability before you enter into any legality.

Who cannot be a guarantor?

Now that you already know who can be a guarantor, let us understand who “cannot” be a guarantor. There are a few things you have to consider while choosing a guarantor for your loan. Ensure that you do not choose a person who:

Is your partner/wife/husband
Shares a financial account with you
Is over 75 years of age
Not a resident of the UK
Doesn’t have employment or source of income
Have a poor credit history or no history at all
Has received a CCJ or IVA in the last 6 years

Note:

Your spouse/partner is usually accepted as your guarantor, but there are times when some lenders do not accept them; Someone who is sharing any financial account with you is usually accepted as your guarantor, but there are times when some lenders do not accept them – when you apply for a guarantor loan, you will usually be informed who can be your guarantor.

Now you know almost everything about guarantor loans. Will the ones who searched for guarantor loans in the UK from direct lenders finally be satisfied? Not yet… One more thing.

Why compare guarantor loans with LoanTube?

Guarantor loans require a lot of thinking from your side. Heck, taking any type of loan requires you to do some good research and find the best possible loan for you…

That is why LoanTube is here, a loan comparison site that can help you make the best decision when it comes to choosing a loan amongst our partner lenders. It doesn’t matter if you’ve searched for guarantor loans in the UK with direct lenders or any other type of loan.

Comparing loans is often the smartest thing you can do.

How does it work?
With our state-of-the-art computer system, we can compare real-time offers from our lender partners.
This is all done in real time!
Once we’ve got all the quotes, we present all these offers with their terms and conditions to you. They will help you make an informed decision. And all of these at no extra cost.
Our proven state-of-the-art systems can help you get a loan in minutes, in 3 simple steps.

With us, the rate you see is the rate you get!

No fancy big numbers that will not only waste your time but make you hate lenders… We don’t want to waste your time or your resources.
On top of that our partners do soft credit checks so they DO NOT HARM your credit score!
Those are some of the benefits you get by getting a guarantor loan from LoanTube. Without further ado, you can get a guarantor loan and avoid making unnecessary mistakes. Just click here and you’ll be settled!
Remember that our service comes at no charge to you and that you don’t have to accept any of the quotes we provide you with if you don’t like them.

[BRAND NEW] Home Improvement Loan 2024 Secret Tips

January 17, 2023

In terms of home renovations, there are a lot of options. Some may need maintenance, such as a new roof. Others, like an extra bathroom or an in-ground pool, could increase the value of your home for your family or draw in future purchasers.

Home improvement loans can provide simple and adaptable financing for any project.

What you need to know about choosing a home improvement loan is covered in this blog, along with some of the newest tips from home improvement finances.

So, here are the newest home improvement loan tips!

Maximise your options: Compare and apply for loans below with LoanTube

Apply Filters

1 Years — 20 Years

6% — 1333%

£250 — £100000

6% — 1333%

1 Years — 20 Years

Loan Amount

£4000 -

£20000

Norwich Trust

Loan Term

1 -

10 years

☆☆☆☆☆ 4.8/5

4.8/5

Representative APR

31.90%

Minimum Age

21 Years

Apply Now

Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

☆☆☆☆☆ 4.8/5

4.8/5

Norwich Trust

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Apply Now

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

☆☆☆☆☆ 4.5/5

4.5/5

Representative APR

28.96%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.5/5

4.5/5

Evolution Money Loans

Loan Amount

£5000 -

£100000

Loan Term

1 -

20 years

Representative APR

28.96%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Loan Amount

£1000 -

£10000

1Plus1 Guarantor Loans

Loan Term

1 -

5 years

☆☆☆☆☆ 4.4/5

4.4/5

Representative APR

39.90%

Minimum Age

18 years

Apply Now

Minimum Income

Not mentioned

☆☆☆☆☆ 4.4/5

4.4/5

1Plus1 Guarantor Loans

Loan Amount

£1000 -

£10000

Loan Term

1 -

5 years

Representative APR

39.90%

Minimum Age

18 years

Minimum Income

Not mentioned

Apply Now

Click here to get a Home Improvement Loan in minutes!

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What can a home improvement loan be used for?

The borrowed money can be applied to almost anything.

Home remodelling projects can be funded through personal loans or other loans in many different ways. The possibilities are practically endless, so without further ado. Here are the options:

Roof replacement or repair
New patio or deck
Paving a driveway
Adding a swimming pool
Adding a hot tub
AC unit replacement or repairs
Plumbing problems
Repair or replacement of a septic tank
Constructing a new fence
Building a shed outside
Completing the basement
Repairing plumbing
Adding a room to your house.
Renovations and additions to bathrooms
Kitchen Renovation
Setting up solar panels

There are a lot more that we didn’t put on this list since it would be too long. This is here to give you an idea of the possibilities.

Click here to get a Home Improvement Loan in minutes!

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What to consider before taking a home improvement loan?

Many home improvements are seen as excellent investments because they can raise the standard of living for your family and boost the value of your property. But they can also be pricey, particularly if your improvements incur unforeseen expenses.

Before you sign on the dotted line, take these three factors into account if you intend to use a personal loan to pay for your home improvements.

Your remodelling goals

A home improvement project can easily consume significant time and money if its aims are not properly defined. Set definite objectives that take into account your expectations, as well as your short- and long-term ambitions, before you start.

Also, take into account the reasons for your improvements. Do you want to increase the worth of your home or are you just adding things because you like them? If the latter, you must calculate the cost of the renovation and weigh it against the potential value added.

Don’t take unnecessary home improvement loans. Always think and make a conscious decision!

Consider your budget

Your home repair wish list will need to be prioritized if you want to stick to your budget and avoid financial stress or excessive debt.

A personal loan (home improvement loan) might lower your chance of going over your budget because the money is given to you in one lump payment. With credit cards or lines of credit, which allow you to access money over a long period of time, that isn’t always the case.

The credit score

Your credit rating and debt-to-income ratio (DTI) will likely be used, If you’re applying for a home improvement loan. The lender needs to determine your interest rate, monthly payment and APR.

You can get financing for home improvements even if you have a terrible credit score. But the interest rates could be higher. If that’s the case… It could be wiser to put off your plans until you can raise your credit score and pay off your debt.

Expert Tip: When should you take a home improvement loan?

When should you get a home improvement loan to upgrade your house?

There are a few things to think about. You should ideally have a good or excellent credit score as well as a steady source of income. Keep in mind your future intentions when choosing a financing option because the payback schedule may vary.
When you sell your property, for instance, you must pay back any loans that are secured by it, including second mortgages. Make sure you have a strategy to pay off the loan by the time you sell your property… Or that you have budgeted for the expense if you intend to do so.
Additionally, the closing procedure needs to be taken into account. Unless you decide to use credit cards to pay for your home remodelling, you should anticipate a 6 to 8-week application and underwriting procedure. You should apply for a home improvement loan in the winter if you want to start working on your house remodelling in the early spring.
Pros and Cons of using a personal loan for a home improvement loan
You can use a personal loan as a home improvement loan. Personal loans are a form of instalment credit. Unlike a credit card, a personal loan delivers a one-time payment of cash to borrowers. Then, borrowers pay back that amount plus interest in regular, monthly instalments over the lifetime of the loan, known as its term.

Now that you understand what is a personal loan and how it can be used for home improvement loans… Here are the pros and cons:

Pros of personal loans as home improvement loans:

Quick access to funding.
Flexible funding you can use for pretty much anything.
Options for borrowers of all credit levels.
Unsecured, so there’s no collateral on the line and no equity needed.

Cons of personal loans as home improvement loans:

Interest rates may be higher than other financing options.
No tax benefits to using a personal loan for home repairs.
Minimum loan amounts may be higher than the cost of small home improvements, putting you in more debt than you need.

Now that you know the pros and cons of home improvement loans, we can dig a bit deeper.

Interest rates of home improvement loans

Like other forms of finance, home improvement loan rates vary by lender and depend on your credit score. The range of interest rates can be from 5.99% to 41.%.

We recommend using a personal loan as your home improvement loan. This is because it is an unsecured loan! This way, you won’t put your home on the line.

If you want to find out more about interest rates click here!

Click here to get a Home Improvement Loan in minutes!

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Why should you compare home improvement loans?

Comparing home improvement loans or other types of loans is the smartest thing you can do!
You shouldn’t fall for the first home improvement loan you see… It is the same as buying a random house.
Don’t fall for the first one you see, check it, examine it! Do what you can to find the best option possible. Don’t be lazy, your money, living quality and everyday activities are at stake!
Imagine getting a bad home improvement loan deal, and losing a ton of money for no reason. You have to live in your pain-invoking home EVERY SINGLE DAY. Feeling constant agony and regret. Not only you but also your wallet and your family…
You wouldn’t want that right? Of course not, that is why you should do your research!
There is a problem: Doing all the math, calculating loans and finding deals is extremely daunting. If you do it manually you will spend the whole day and MAYBE find a good deal…
That is why LoanTube was funded. It can find you great loan deals and you can check your APR and Eligibility Rates in a matter of minutes. Just complete 3 overly simple steps and you’re done.

Click here to get a Home Improvement Loan in minutes!

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Why you should use LoanTube

LoanTube allows you to compare loans from multiple lenders in a matter of minutes. You see, the internet is extremely fast and extremely powerful. We have managed to direct power into something that can help you.
LoanTube was created to help you save hundreds of pounds by comparing home improvement loans. It is also one of the rare loan comparison platforms that do soft checks only. Meaning they don’t hurt your credit score! In just 3 simple steps you could compare loans from multiple partner lenders. Then find the best home improvement loan for you.
It doesn’t matter if it is a secured personal loan or an unsecured one. You get it in minutes and you don’t leave the comfort of your house either.
Heck, you don’t even need to leave your bed. You don’t have anyone show up at your door asking for money. Just those two features make it indefinitely great!

To start your application for a home improvement loan, please click here.

Remember that our service comes at no charge to you and that you don’t have to accept any of the quotes we provide you with if you don’t like them.

Car Loans Unlocked – Top 7 Ways To Buy A Car

January 12, 2023

Although purchasing a new vehicle can seem frightening at first, we’ve seen that when you know what to anticipate, the process typically gets less intimidating. This is the reason we’ve put up these seven simple steps to buying a car, including all the information you need to know to help you obtain the greatest car loan deal for your new vehicle. Car Loans can help you!

1. Understand How Much You Can Afford

It’s critical to know exactly how much you can spend before entering the car yards. You’ll know how much you have to work with if you have the cash to pay for a new car in full up front. If not, you’ll need to perform the math to determine how much of a new car loan you can realistically pay.
If you have to take a car loan you will have a lot of math to do… Calculating your APR rates and eligibility rates can be a real pain. It can take a lot of time and a whole lot of unnecessary work. We will reveal the best method for calculating it at the end!

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31.90%

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Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

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Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

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☆☆☆☆☆ 4.5/5

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28.96%

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18 years

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Click here to get enough finances for your new dream car in minutes!

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2. Know When To Buy Your Car And When To Get Your Car Loan

Want to buy a new automobile for the lowest possible price? Knowing when to buy is essential! If possible, arrange your car purchase around these prime times in England:

The end of the financial year – Most retailers want to get rid of their old inventory at this time of year to make room for new models in the coming year, so it’s a fantastic opportunity to score a deal.
New Year’s – The same is true for January, when dealers offer even greater discounts on the vehicles they failed to sell in December.
The end of the financial year – Engineering or related sales are large in England, so that can be a good time to buy a new car at a discount.
The end of the month – If you didn’t take advantage of any of the previous opportunities, you could still be able to find a decent deal on a new vehicle by shopping toward the end of the month to take advantage of dealers trying to meet their monthly sales goals.
Every Monday – Monday is the greatest day to buy a car in England. As dealerships are busiest on Saturdays and Sundays, these days tend to yield the poorest deals.

This doesn’t exactly work for car loans, but it is great to know when buying a car!

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3. Know What Is Included In The Car Loan Or The Offer

You can learn exactly what’s on the model you’re interested in by conducting research. When selling new cars, dealers frequently try to sway customers with extras, but if you are aware of what is included as standard, you can make an informed decision without being swayed by extras that you already know are included.
You may be in a better position to negotiate for further things on top of what is currently offered if you do this.
This is an old trick that can distract you with shiny things and detail, don’t fall for it. Do your research, check the reviews, check the problems your car is most prone to, it is better to be a warrior in a garden, then a gardener at a war. Proper information is essential when it comes to buying cars. Information is also mandatory when it comes to getting car loans, but we will go over that later…

4. Be Ready To Negotiate Your Car Deal

Now that you got all the information you needed it is time to prepare for negotiation. Whether it is your new Tesla, a Lambo or even an old sleeper, negotiation can lower the price and give you a great feeling of victory at the end of the day. It is a win-win situation when it all settles.
Even though you might find it difficult to negotiate while purchasing a new car, it’s essential. With thorough research, you should be able to negotiate the best price, but remember to make your goals reasonable, act courteously, and keep your expectations in check.

TIP: If you choose a new model, you’ll typically discover that there isn’t much opportunity for negotiation on the price. Negotiating, though, may allow you to significantly lower the price if the model you’re interested in has to be updated.

TIP: Doing market research and finding out the price range of your desired car can help you understand the offer, be more realistic and call out the price if it is too high.

5. Understand Car Loans And The Financial Side Of Your Journey

A car loan is a way for you to finance the purchase of your new car. You can use the loan to cover either the complete cost, or a part of the payment. Then repay the money over affordable monthly instalments. A Loan for car is just an unsecured personal loan that you use to buy a car, as simple as that.
Now, we both know nothing is as simple as it sounds.
Like we previously said, car loans can be tricky when it comes to APRs, eligibility rates, credit checks, getting approved… There are a lot of things but don’t worry, the internet can always help you get some answers extremely fast.

Click here to get enough finances for your new dream car in minutes!

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6. Compare Car Loans And Check Eligibility or APR In Minutes

You shouldn’t fall for the first car loan you see… It is the same as buying a car, don’t fall for the first one you see, check it, examine it… Do what you can to find the best car possible and to find the best deal possible. Don’t be lazy, your money and everyday activities are at stake!
Imagine getting a bad car deal, losing a ton of money for no reason. You have to drive in your awful car EVERY SINGLE DAY, feeling constant pain and regret. Not only you, but also your wallet…

You wouldn’t want that right? Of course not, that is why you should do your research!

There is a problem: Doing all the math, calculating loans and finding deals is extremely daunting. If you do it manually you will spend the whole day and MAYBE find a good deal…
That is why LoanTube was funded. A lon comparison site to help you find great loan deals and you can check your APR and Eligibility Rates in a matter of minutes. Just complete 3 overly simple steps and you’re done.

Click here to get enough finances for your new dream car in minutes!

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7. Where to get a Car Loan?

LoanTube is a loan comparison company which was created to help people get the best car loan offers among their partner lenders.
We have multiple UK based lenders that are of utmost reputation.
Like we both know – the internet is extremely powerful. It can gather an immense amount of information in as little as a microsecond, without breaking a sweat. LoanTube managed to harness this astounding power and we directed it into helping people with their car loans.
Our proven state-of-the-art systems can help you get a car loan in minutes, in 3 simple steps.
With us the rate you see is the rate you get! No fancy big numbers that will only waste your time, or make you hate lenders… We don’t want to waste your time, nor your resources.
On top of that our partners do soft credit checks so they DO NOT HARM your credit score!
Those are some of the benefits you get by getting a car loan from LoanTube. Without further ado, you can get your desired car loan and avoid making unnecessary mistakes. Just click here and you’ll be settled!
Remember that our service comes at no charge to you and that you don’t have to accept any of the quotes we provide you with if you don’t like them.

[POWERFUL] This Debt Consolidation Loan Tip Saves Thousands Of Pounds

December 28, 2022

Debt consolidation loans can be a great approach if you wish to take control of your finances. You can organise payments and possibly lower interest rates in just three simple steps. Debt consolidation loans are also able to lower your loan payments each month!

This is due to the fact that personal loans frequently have cheaper interest rates than credit cards, medical loans, and other types of debt, especially if you have high to exceptional credit. You won’t have to worry about the details of merging your other debts. Because a lot of lenders also offer direct payments to creditors of third parties.

Appropriate consolidation loans are personal loans that have low annual percentage rates (APRs) flexible repayment schedules. They don’t charge prepayment penalties, allowing you to pay off your debt early without incurring charges.

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1 Years — 20 Years

6% — 1333%

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6% — 1333%

1 Years — 20 Years

Loan Amount

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Norwich Trust

Loan Term

1 -

10 years

☆☆☆☆☆ 4.8/5

4.8/5

Representative APR

31.90%

Minimum Age

21 Years

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Minimum Income

£2000 per month

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

☆☆☆☆☆ 4.8/5

4.8/5

Norwich Trust

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years

Representative APR

31.90%

Minimum Age

21 Years

Minimum Income

£2000 per month

Apply Now

Representative Example: £12,000 over 66 months, 31.9% APR fixed. Monthly payment £358.22 Annual interest rate 28.01% fixed. Interest payable £11,642.52. Total repayable £23,642.52.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

☆☆☆☆☆ 4.5/5

4.5/5

Representative APR

28.96%

Minimum Age

18 years

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Not mentioned

☆☆☆☆☆ 4.5/5

4.5/5

Evolution Money Loans

Loan Amount

£5000 -

£100000

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1 -

20 years

Representative APR

28.96%

Minimum Age

18 years

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Not mentioned

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£1000 -

£10000

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39.90%

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18 years

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What is a debt consolidation loan?

Taking out a loan to repay other loans is called “loan consolidation”. So when a borrower consolidates their debts, they obtain a new loan. Typically with better conditions (a lower interest rate, lower monthly payment, or both). They can utilize the loan to settle their existing outstanding bills. Credit card debt, vehicle loans, and other personal debts are frequently paid off with debt consolidation loans.

This can lead to a more organised payment. You don’t have to pay your loans to six different lenders or waste time and energy… Debt consolidation loans open a door to simplicity and they can even make you pay less.

Click here to get through this daunting period of life and get a debt consolidation loan in three simple steps.

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How does debt consolidation work?

Debt consolidation loans are extremely simple and straightforward!

All you do is apply for a personal loan from your bank or another lender to begin consolidating debt. Once your lender has granted you a debt consolidation loan, it might offer to automatically pay off your other debts. But you can also choose to accept the cash and settle them on your own terms.

The upside of debt consolidation loans is freedom. You have the option to give the lender your money so they can pay off your previous loans. Or you can take the responsibility and do it yourself.

This is a great feature that some other types of loans don’t have… One of those loans is the payday loan. The payday loan basically allows lenders or credit givers to take out your money at each payment day. They are one of the trickiest instalment loans out there.

Benefits

You may be considering a debt consolidation loan if you have accumulated debt over the years… Through credit cards and loans in order to lower your total monthly obligations and relieve financial strain. However, there are reasons for and against doing this, therefore you need to be fully informed.

A debt consolidation loan is a simple method to pay off all of your debts, including personal loans and credit cards if you have them and wish to do so.

Debt consolidation benefits include:

Reduce your monthly obligations to generate extra monthly spending money
Instead of managing many loans, simplify your life by making just one payment.
Instead of just paying the minimum each month, have a clear payback plan.
Utilize the chance to reduce your spending and get back on track.
Start rebuilding your credit score.

You get a new loan, ideally with a lower interest rate and a more convenient term, and use it to settle all of your existing debt. Then, with just one manageable payment due each month, you can see your finances more clearly. Perhaps you could regain control of them.

Click here to get through this daunting period of life and get a debt consolidation loan in three simple steps.

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How to get debt consolidation loans?

The process to getting a debt consolidation loan varies from lender to lender. So we cannot exactly tell you how to get it.

But here are the general rules when it comes to applying for a debt consolidation loan…

The Step By Step Guide to getting a debt consolidation loan:

Check your credit score

– You can obtain a free credit score report from your credit card company or another website that provides such information. You will gain a better understanding of your eligibility and creditworthiness thanks to this. A score of 610 is preferred, but a score of at least 720 will result in favourable terms.
Take action to raise your credit score if necessary

– Take the effort to raise your score before applying if it is below 610 or you want to raise it to get favourable terms. Some ways to do this include reducing your use of credit or paying off past-due obligations.
To what extent do you need to combine your debt

– Calculate how much you would need to borrow to pay off all of your obligations after checking your credit score. However, keep in mind that you’ll receive your funds in one lump sum. You’ll be required to pay interest on the entire quantity, so only borrow what you actually need.
Compare loans to find favourable conditions and interest rates

– Before completing your application, many lenders will allow you to prequalify. This allows you to view the conditions you would receive with only a soft credit check. Without damaging your credit score.
Formally apply for a loan and wait for a response

– Apply online or in person after locating a lender who provides you the most favourable terms for your circumstances. This procedure can take a few hours to a few days, depending on the lender.

Following these steps will get you through the entire process of getting a debt consolidation loan, no matter the nuances.

What are debt consolidation loan alternatives?

We’re not saying these are better, or worse… These are alternatives that you can take if you don’t qualify for a proper debt consolidation loan. Be aware that they can do more harm than good! Here they are:

Cards for balance transfers – For a nominal cost, you can move—or transfer—your current credit card debt to a new card with a 0% introductory APR, according to several credit card issuers. You can avoid paying interest as long as you pay off your debt within the introductory term. Which is often up to 21 months. After the introductory period expires, interest will start to build up on any remaining amounts.

Mortgage equity loan – You could be able to borrow up to 85% of your equity if you have enough equity in your home, typically at least 15-20%. You will receive a lump sum payment along with interest that you can use to pay off high-interest obligations. Since home equity loans are backed by your house… The lender has the right to take possession of it if you fail to make payments.

Credit line for home equity (HELOC) – A HELOC provides you with access to money from your home equity in a manner similar to a home equity loan. Instead of getting money all at once, you’ll have access to a credit line that you can use. You can redraw from as you pay off your debt over the draw term. Additionally, you will not be required to pay interest on the total allowed amount, simply the amount you borrow.

These are your alternatives that you can take. Like we already said, please be careful taking them because they can often do more harm than good.

It doesn’t even matter what they are… Taking any type of loan should be a rational, responsible decision!

How to compare these kind of loans?

You can apply for a personal loan (debt consolidation loan) quickly and easily online. Whether it is through traditional banks, credit unions, and alternative lending platforms. You don’t have to go to a bank location. Many of these lenders also have flexible repayment options and affordable interest rates. So you might be able to save money by combining your existing obligations.

Whichever loan you want to take, comparing loans is the smartest decision you can make!

Prequalify if at all possible

– Prospective borrowers can prequalify for a loan from a lot of personal loan providers. This entails that the applicant can provide information regarding their financial requirements, income, housing condition, and other pertinent factors… To learn what types of loans, interest rates, and payback terms they are likely to be eligible for. Better yet, this procedure often just necessitates a mild credit query… Allowing you to comparison shop without negatively affecting your credit score. The prequalification method helps simplify your search by eliminating lenders with higher rates. If you believe you might benefit from consolidating your debt but are unsure of what rates you’ll qualify for.
Think about why you’re taking a debt consolidation loan

– Personal loans are only allowed to be used for certain activities… Such as consolidating consumer debt, home improvements, vacations, weddings, funerals, significant purchases, and other personal needs. Because of this… Lenders frequently prevent you from using personal loans for things like postsecondary education costs, company expenses, or even illegal activities. Always be certain that using the loan for debt consolidation is an acceptable use of the lender before choosing one. Determine whether the lender will pay your other creditors directly to make things even better.
Watch out for additional charges

– Some lenders provide fee-free personal loans… Which exempt borrowers from paying origination fees, late payment penalties, prepayment fees, and other typical loan costs. When looking for favourable debt consolidation loan terms option… It’s critical to inquire about costs because this is more of an exception than a rule. This is crucial if you’re seeking to consolidate your debt in order to save money! Because throughout the course of the loan, fees may reduce your savings. Additionally, if a lender charges an origination fee… Confirm if it is included in the APR or deducted from the loan amount before funding. This could affect the loan amount you should ask for.
Analyse the available customer support choices from the lender

– Before you sign the loan agreement with a lender… Who is willing to lend you the money you require on reasonable conditions, there is another thing to think about. Customer service might not seem important in the beginning of your loan… But it will be crucial if you have trouble making payments or get into financial difficulties later on. To make sure it’s a good fit, check out the lender’s customer service resources! Read testimonials from previous and present borrowers.

Congratulations! You now know how to compare loans and find a favourable loan for you. Unfortunately this process is extremely daunting and it can exhaust your mind in a matter of minutes.

Read the next section if you want to see a quicker, simpler alternative! It can get you your desired debt consolidation loan in a matter of minutes!

Click here to get through this daunting period of life and get a debt consolidation loan in three simple steps.

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Like we said, comparing loans is the smartest thing you can do. Not only can it save thousands of pounds, but it can also be extremely quick and effortless.

Don’t fall for the first loan you see, because the chances are that it is sub-optimal

Heck, sometimes it isn’t even good at all.

How is this possible? Well as you already know the internet is extremely powerful! We harnessed that insane power and directed it towards something positive – saving you money and preventing you from losing it.

LoanTube’s proven revolutionary methods bring you faourable loans from multiple UK lenders within our panel! You can pick which one is the perfect debt consolidation loan deal for you. In just 3 steps, you can fill the form and get results in a minute.

LoanTube performs soft credit checks because we don’t want to harm your credit score. With us, the loan you see is the loan you get! there are no fancy, eye-catching numbers that waste your time and give you false hope.

So, if you wish to check your eligibility rates and find a good debt consolidation loan among our multiple partner lenders, click here and start comparing!

Remember that our service comes at no charge to you. You don’t have to accept any of the quotes we provide you with if you don’t like them.

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Warning: Late repayment can cause you serious money problems. For more information, go to moneyhelper.org.uk

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What is equity release?

Who is eligible for equity release?

How much can you borrow through equity release?

Types of equity releases

Is equity release a good idea?

What are the Advantages and Disadvantages of equity release?

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£2000 per month

4.8/5

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Representative APR

31.90%

Minimum Age

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