FINANCE

There are three types of loans you can apply for:

⦁ Unsecured Loan. This is a loan which is not tied to any asset, the customer can borrow from £1,000 - £35,000 over a period of 1 year – 5 years.

⦁ Secured Loan. This is a loan which is tied as a second charge behind a mortgage, the customer applying must be a homeowner, with a mortgage on the property in their name, the customer can borrow up to £500,000 and make repayments up to a term of 35 years depending upon the lifetime of the mortgage.

⦁ Guarantor Loan. This is a loan which means the customer will need to find another person with better credit than themselves to co-sign the agreement with them. This could be a friend or family member and the Guarantor does not have to be a homeowner. One of the benefits of a Guarantor Loan is that if they keep up with repayments their credit score will improve meaning they will increase their chances of obtaining a better APR in future. The customer can borrow £1,000 - £8,000 up to a period of 5 years.