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Holiday Loans

  • Fixed and predictable Repayments
  • Designed for people with good as well Bad credit score
  • Higher loan amounts attract lower interest rates
  • Lender may allow you to repay early without any penalty
Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK

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 use LoanTube to find you a loan.

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 you pay your loan back over but please remember that this will 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 one holiday loan company. What’s the problem with that? You might not be getting the best deal for you. With LoanTube, you can instantly compare offers side-by-side from multiple holiday loan providers. Where more than one holiday loan company wants to work with you, you’ll see a list of all the rates they’re offering you personally so you can make the right choice for you. It’s always better to have more than one choice 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, you may be at risk of losing your home, your car, or other valuables if you’re unable to keep up repayments.
Loan

When you should take Holiday Loans

  • Take the holiday you and your family need now
  • You can borrow spending money for your holiday too
  • All monthly repayments are at a fixed rate
  • LoanTube makes applying for a holiday loan easy
  • We can deliver you excellent loan offers and rates within seconds (most of the time)

When you should not take Holiday Loans

  • Your holiday will cost more because interest is charged on loans
  • If you fail to keep up repayments, you may have to pay a default fee
  • If you’re unable to pay your holiday loan back, this will significantly affect your chances of borrowing again in the near future

Frequently asked questions about Holiday Loans online

Is there a minimum age for holiday loan applicants?

Yes – we need you to be 18 years or older.

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

Sorry but we can only offer loans to consumers in full time, permanent employment.

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?

Yes – sorry – but, at this time, we do not have any lenders on our panel looking to offer loans to consumers experiencing these difficulties.

How much do I need to tell you about myself?

Not as much as you’d 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 and what that spending goes on, and addresses you’ve recently lived at.

Is this a no guarantor holiday loan?

Yes – you don’t have to ask anyone to volunteer to pay the loan for you should you not be able to keep up with repayments.

Can I get a quick “yes” or “no”?

Definitely – we know you don’t want to wait and we’ve set up LoanTube to make sure that you don’t. When you fill in our form, we’ll tell you pretty much straight away (within seconds) about whether our lenders are saying “yes” or “no”. On your screen, you’ll see what the offer from each lender is together with an APR and a total cost of borrowing. From time to time, a lender may need to phone you up to get additional information. If they do, the rate you’re shown still remains locked in so no nasty surprises.

Does LoanTube lend me the money?

We’re a broker, licensed and regulated by the Financial Conduct Authority. What that means is that the government has inspected our company and the way we do things and they’re happy for us to introduce borrowers to lenders. When you get your loan, it won’t come from LoanTube’s bank account, it’ll come from the lender you’ve decided to go ahead with. And, just so you know, all of the lenders on our panel have had to past the strict Financial Conduct Authority tests to get their licence too.

Who chooses the lenders to forward my application to?

Part-human, part-machine! We have great working relationships with the lenders on our panel. We’re always talking to them about who they like to lend money to – they actually give us pointers about the type of borrowers they like to work with. What our technical team then do is program everything each lender tells us into our clever computer system. When you enter your details when applying for your loan, that same clever computer system compares you against the criteria each lender has given you and intelligently pairs you up. And it’s all done in seconds.

Does LoanTube charge me for the service?

Finance brokers like LoanTube receive a “thank you” payment every time a borrower we’ve introduced to a lender then takes out a loan. That money doesn’t come from you – we never charge you a fee, whether you take out a loan or not. Instead, we get paid by the lender. Does that mean you end up paying more? No it doesn’t because our computer system makes each suitable lender bid against each other to lower the rate of interest you’re paying. In many cases (although not all), you may get a better deal coming through us than by going direct.

Does LoanTube require a credit check?

LoanTube and the lenders on our panel are all licensed by the Financial Conduct Authority. That means that we’re all committed to best practice and looking after the interest of vulnerable people or people in financial distress. None of us want to lend to someone where, by doing so, we’ll make things worse for them by turning debt that’s difficult to manage into debt that’s impossible to manage. Part of what we do and our lenders do to determine that someone is suitable for a holiday loan and that they can make the repayments is by performing a credit check. So our answer is that a credit check will be carried out as part of your application for a loan.

Can I change my mind?

Yes. You can stop your loan application at any time and you don’t have to accept an offer that one of our lenders makes to you. There is never any charge for our service.

Why apply through LoanTube and not somewhere else?

At LoanTube, we do things differently and the person who benefits the most from that is – YOU!

Once you’ve submitted your application, LoanTube conducts a credit search on you. After this, we’ll then show your credit report together with the details you’ve given us during your application together only to the FCA-approved lenders on our panel that we know will want to lend to you.

They’ll then get back to us with their decisions – “If they can lend to you and, if yes, then what is the APR”. There may be multiple offers from different lenders. Once you accept a particular offer, the APR shown to you will be locked in.

What makes LoanTube different? Every single lender who gets back to us with a YES wanting you as their newest customer will actually compete for your business. How does this work? Lender X says “we’ll offer this APR for this loan” and then Lender Y says “we can do better than that – this is what we’ll offer you instead”. This “bidding system” can really make the loans cheaper for you. We do all the hard work for you – it’s that simple.

And yes, all this is done in real-time and all automatically. To start your application, please click here.

Representative APR example

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