Help with loans

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Credit brokers and payday loans

If you are looking for a payday loan, using a credit broker to find one could cost you money in unnecessary fees. This page tells you more about what you should think about before you use a credit broker to find a payday loan.

Second charge or second mortgages

Second charge mortgages are often called second mortgages because they have secondary priority behind your main (or first charge) mortgage. They are a secured loan, which means they use the borrower’s home as security. Many people use them to raise money instead of remortgaging, but there are some things you need to be aware of before you apply.

Refused credit or refused a loan – what you can do

If you’ve been turned down for a credit card or loan there are steps you can take to understand why. There are also things you should avoid doing which could make it even harder to get credit in the future. Read on to find out more and to learn about alternative borrowing options to consider or avoid.

Personal loans

If you want to borrow money and pay back a fixed amount every month, a personal loan is one option. Here’s what you need to think about before you borrow and how to make sure you get the best deal for you.

Loan sharks

Loan sharks are illegal lenders who often target low income and desperate families. They might seem friendly at first but borrowing from them is never a good idea – even if you feel you have no other options.

Borrowing through a Peer to Peer Platform

Over the last few years a new area of lending has been increasing in popularity – peer to peer, or social lending. The idea is that people who want to borrow money are matched up with those who will lend it. Here’s how it works and how it compares to borrowing from banks and building societies.

Logbook loans

Logbook loans are loans secured on your vehicle, so the lender owns your vehicle until you pay the loan back. You can keep on using your vehicle as long as you repay the loan. However, logbook loans are expensive and risky and you should avoid them if you can.

Pawnbrokers – how they work

When you approach a pawnbroker you have two choices – either to leave something valuable as security for a loan, for example an asset such as jewellery or an antique, or sell the item to the pawnbroker. This article explains the first option. Pawnbrokers can lend money quickly but

Borrowing from a credit union

Credit unions are co-operatives that accept deposits and give out loans. They are set up by people with a common interest, such as where they live or work, and offer low-interest loans, savings and sometimes bank accounts. They’ve been around since the 1940s but in recent years have become increasingly popular among savers and borrowers.

Alternatives to payday loans

If you need to borrow money and are thinking of getting a payday loan, stop to consider your options. Although easy to set up, a payday loan can quickly turn into a problem debt for many people. It can also affect your credit rating if you don’t pay it back on time.

Payday loans – what you need to know

Payday loans are an expensive way to borrow. Never take out a payday loan unless you’re certain you can repay it on time and in full – otherwise the costs can soon spiral out of control. If you’re thinking of getting one, here’s what you need to know.

Home credit or doorstep lending

Home credit is a type of doorstep lending. It can be expensive compared to other types of borrowing , so is best avoided if you have access to other forms of credit. Find out why and what the alternatives are.

Debt consolidation loans

Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

Find an adviser

If you decide you want financial advice, you can begin your search for the most appropriate regulated financial adviser for you by simply entering your postcode below:
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