Why Choose a Personal Loan?

Are you wondering why choose a personal loan? One of the main reasons for choosing a Personal loan is the flexibility. There are a variety of Personal loans available which can be divided into two categories: secured personal loans and unsecured personal loans. Homeowners can apply for a Secured personal loan (using their property as security), whereas tenants only have the option of an unsecured personal loan.

Secured Personal Loan:

A Secured personal loan is simply a loan that is secured against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan; or, have a poor credit history.

Lenders can be more flexible when it comes to Secured personal loans, making a Secured personal loan possible when you may have been turned down for an unsecured personal loan.

You can borrow any amount from £5,000 to £75,000 and repay it over any period from 5 to 25 years.

The only disadvantage to a secured personal loan is that there is a risk of losing your home, if for whatever reason, you are unable to keep up the repayments.

Unsecured Personal Loan:

An Unsecured personal loan is good for people who are not homeowners and cannot obtain a secured loan for example; a tenant living in rented accommodation.

An Unsecured personal loan is a personal loan where the lender has no claim on a homeowner's property should they fail to repay. Instead, the lender is relying solely on the ability of a borrower to meet their loan borrowing repayments.

The amount you are able to borrow can start from as little as £500 and go up to £25,000.

The repayment period will range from anywhere between six months and ten years.

An Unsecured personal loan can be used for almost anything - a luxury holiday, a new car, a wedding, or home improvements.

Unsecured personal loans are invariably more expensive than secured loans, and the repayment periods demanded by lenders are shorter too.

You may freely reprint this article provided the author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

---

Law Practice Finance

How do you finance a growing practice? It is impossible... Read More

Alternative Venture Finance: Federal Grants and Loans

While most companies seeking venture capital initially think about angel... Read More

What is a Home Improvement Loan?

A UK Home Improvement Loan Can Give You The Home... Read More

Is a Microloan Right for You?

If you've been tossing around an idea for a small... Read More

The Best Day of The Week For Payday Loans

Whether your payday arrives every Friday or every other Friday,... Read More

What is a Commercial Business Loan?

A commercial business loan is designed for a wide range... Read More

A Guide to Common Loan Terms

Many people may wonder about common loan terms? words and... Read More

Cash Advance Payday Loans

The ads are on the radio, television, the Internet, even... Read More

Car Loans for People With Bad Credit

Car loans for people with bad credit are readily available... Read More

How to Spot and Avoid Predatory Lending

Predatory lenders promise loans that are "too good to be... Read More

Need a Personal Loan? Have Poor Credit? See if a Payday Loan Would Work For Your Needs

Poor credit and a financial emergency don't seem to mix... Read More

Benefits of a Secured Loan

The secured loan is favoured by many UK residents seeking... Read More

Finding an Auto Loan with Bad Credit

Finding an auto loan online is easy regardless of you... Read More

Education Loans Can Augment The Boundaries Of What You Can Achieve

Education never ends ? it is not said without reason.... Read More

What is a Student Loan?

Not everyone is aware of what is a student loan?... Read More

Finding the Loan UK that Meets Your Needs

For those in the market for a loan UK ,... Read More

Should I Get a Consolidation Loan?

If you've got a really unmanageable amount of credit card... Read More

A Look at Getting a Bad Credit Personal Loan

Trying to get a bad credit personal loan can be... Read More

How to Get a Business Loan in Five Steps

Need funds to startup or expand your business? Follow these... Read More

Instant Cash Advance Loans - Take Advantage of The Convenience of The Payday Loans Available Online

Cash advance loans not only provide you with instant cash,... Read More

Alternative Ways to Avoid Payday Loan

If you spend more than you earn on a regular... Read More

A Guide to UK Secured Homeowner Loans

Trying to find good UK secured homeowner loans might seem... Read More

Payday Loan and Cash Advance Lenders Online - How To Compare Them

When searching for a payday loan company online to get... Read More

Military Payday Loans! The Before Pay Check Financial Fiasco, is History Now

Working under the most prestigious service of the country ?... Read More

Cash Advance Loans Online - A Great Way to Make it Until Your Next Pay Day

A payday advance is a loan obtained to cover unexpected... Read More

Risk It With A Bridging Loan?

How many times have you been casually going about your... Read More

Loans For Unemployed - when your personal economy slumps during difficult times

The latest IDS figures for unemployment the claimant count measure... Read More

Finding the UK Loan that You Need

Because it can sometimes be difficult to find a UK... Read More

Secrets & Benefits of Secured Loans

Borrowing money has become more and more popular in the... Read More

What is a Homeowner Loan?

A Homeowner Loan is a way of using the equity... Read More

Bridge Loan

A buyer of a new home may find himself or... Read More

User Guide to Payday Loan Terminologies

Are you approaching towards a payday loan cash advance? Is... Read More

A Guide to Looking for Cheap Online Loans

Cheap online loans may seem hard to come by, but... Read More