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Holiday Loans

  • Fixed and predictable repayments
  • Designed for people with a good as well bad credit score
  • A few of the lenders may allow you to repay early without any penalty

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender

Our comparison service is free for you to use. Yes it’s free!!

Are you thinking how we make money then? – We receive a fee or commission from lenders whenever you obtain a loan through LoanTube.

3 Things you Need to Know About Holiday Loans Online

If you know where you’re going and you’ve already mentally packed your suitcases ready to go, what three pieces of advice would LoanTube give you about getting a holiday loan?

  • Make sure that the size of your loan repayment comfortably fits within your monthly budget. You can do this by increasing the number of months of the loan tenure but please remember that this will also increase the overall cost of the loan.
  • Your travel agent might offer you the chance to apply for a holiday loan, however, be careful. Most travel agents only work with a particular holiday loan company. And the problem is you might not be getting the best deal. With LoanTube, you can instantly compare offers side-by-side from multiple holiday loan providers. You will see a list of all the rates they are offering you so you can make the right choice. It’s always better to have more options because when companies compete for your business, you’re the biggest winner.
  • Be careful before applying for any holiday loan that is secured. If someone offers you a secured loan, there may be a risk of losing your home, your car, or other valuables if you are unable to keep up with the repayments.
Loan

When should you Take Holiday Loans?

  • If you need a little more cash to help you in the plan
  • If you have a proper monthly income source
  • When the monthly repayment amount is well within your monthly budget

When should you not Take Holiday Loans?

  • When you are not sure you can afford the repayments of the loan
  • If you know you cannot keep within the budget and chances are there that you will cross it
  • If the loan repayment amount will saddle you for months to come

FAQs on Holiday Loans

What should be my minimum age while applying for a loan?

Our lenders lend only to customers who are aged 18 or above.

Can I apply for a holiday loan if I’m unemployed?

Yes, the lenders prefer it. You need to be in a permanent and paid employment. If you are unemployed, you may not be able to pass the lender’s affordability assessments. The exception is if you have other good sources of incomes like rental income and you can convince lenders that you can afford to pay the loan with those other incomes.

If I am bankrupt, I have an Individual Voluntary Arrangement (IVA), or I am on a debt management arrangement plan, will that affect my chances of getting a holiday loan?

People on IVA, Debt Management Plan and on Bankruptcy are considered as negative customers by lenders. It is a sign that you can’t really manage your finances. Due to this, we are very sure we won’t be able to find you a loan if you are on IVA or Debt Management Plan or have filed a bankruptcy in past.

How much do I need to tell you about myself?

Not as much as you would tell a bank! However, we’ll need you to share with us how much you earn, who you work for, what you spend every month, where are you living and your residential status.

Is this a no guarantor holiday loan?

Yes – LoanTube deals with No Guarantor Loans only.

Can I get a quick “yes” or “no”?

If we have all the information we and our lenders need, a “yes” or “no” answer from lenders who are willing to lend you with their APRs/quotes will be displayed on your screen on a real-time basis.

Does LoanTube lend me the money?

No – we are a credit broker. We are licensed by the Financial Conduct Authority to match borrowers with lenders. We arrange your loan but we do not transfer you the money and you do not pay the money back to us – you do that to your lender. Moreover, to ensure the highest levels of industry practice across the board, we only work with lenders who have been inspected and given their licence by the Financial Conduct Authority.

Who chooses the lenders to forward my application to?

Part us, part you! When we become partners with a lender, one of the first things they do is to send us a list of the types of borrowers they would like to work with. You might be just the type of borrower one company is looking for but another might not consider you. Our intelligent matchmaking system finds the right matching lenders for you which we show you in a list along with their Quotes/APRs. It’s you who decide which one to go with after going through the quotes and subjected conditions of all such lenders.

Does LoanTube charge me for the service?

No, LoanTube’s mission is to bring down the cost of borrowing by trying to find the cheapest rates for you. All of our hard work would be undone if we found you a great loan and then slapped a fee on top for our service. You never pay us a penny.

Does LoanTube require a credit check?

Yes, we do. LoanTube runs a soft credit check on your name which won’t affect your credit score. But that’s a good thing. Doing so helps us in knowing the right lenders for you even before we pass your details to them. So this way we don’t pass your details to any lender we already know won’t be able to lend you. The more we know about you, the more personalised and more suitable loan deal we can find for you.
Please note that soft credit check does not affect your borrowing capacity.

What is a soft credit check?

A soft credit check is a type of a credit check which does not leave a footprint on your report, which means, your credit score will not be affected with this. It’s only you who can see the soft credit checks on your credit report. Third party lenders can’t see this. So soft credit checks don’t affect your borrowing capacity.

Can I change my mind?

Yes. You’re never under any obligation to accept an offer that you receive from LoanTube. Even if we say “yes” then you turn around and tell us “no”, there’s no charge for our service.

Why Trust LoanTube?

LoanTube is different. We try to bring you the cheapest possible rates that are available amongst our partner lenders. Although we cannot guarantee that we will find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple lenders.

How does it work? Our clever computer system compares real-time offers made directly by the lenders. This is all done in real-time and, once we have all the quotes, we will display the offers with their terms and conditions to you.

Taking out Loan and Change of Mind

It is up to you if you want to go ahead and take out of the loan. Please read the terms, conditions, and costs (including APRs and other fees/costs) of the loan to decide whether its right for you. If you accept, a loan agreement will be made between you and the lender but if you change your mind, you can cancel it within 14 days.

Your Quote

In the vast majority of the cases, the quote you see on our offer screen is the quote you get. Occasionally, a lender may need to ask additional questions and do additional checks on your application. Depending on the information you give or they obtain from their sources if that makes your application a significantly riskier, they may change the APRs/quotes of the loan, which could make it more expensive, but you are free to reject such offers. They may also withdraw the offer of a loan.

Our Service is Free

LoanTube’s service is free regardless of whether you find a loan or not, and whether you decide to take up the offer. Under no circumstances, you will pay anything for our services. We receive payment from the lender in the form of a commission whenever a loan is taken out by a customer using our service.

How to Apply

You can apply for an unsecured personal loan with us anytime. It will not take much time to complete our loan application form. To start, click here

Representative APR example

We compare loans that can be paid back over terms of between 1 month and 25 years. The APR interest rate you will be charged depends on your personal circumstances, and will be between 3% and 299%.

This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3%, APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.

Caveats:

*Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK