You could avail different kinds of loans to fulfill a variety of your needs. Sometimes, you might get a bad credit score, yet, there are loans available against a bad credit score. You can avail at least ten best kinds of loans not just from banks, but also from private financial institutions. Find below the details of different kind of loans that you can avail to fulfil your requirements.
Unsecured Loans: These are loans that do not need a lot of paper work or collateral. This is a kind of personal loan. When you are in dire need of money and have nothing to show as security or collateral, then an unsecured loan is the best option to go for. All you will need to submit is your salary slip, residence proof, and tax certificates to get this loan. You will have a moderate percent of interest against the amount of loan you avail. Most of the banks do not provide this kind of loan. You will have to approach many private financial firms that provide unsecured loans. The terms and conditions of these firms might vary from that of a bank.
1 year Bad Credit Loan: If you have a very bad credit score, because you have been a defaulter when it comes to repayment, and it would reflect on your credit score, bank might not give you a loan. Before you approach any bank for yet another loan, the bank will first look into your credit score. If it is bad, then there are many financial firms that provide you loans against a bad credit score. The amount of loan that you will secure against a bad credit score will be less.
Bridging Loan: This is a short term loan that you will need to, say, pay for your debts, or the immediate amount of money that you will need when you are buying a property. This kind of loan bridge the gap of the money that is needed immediately. Many bridging lenders are available when you are dealing with finances while buying, developing, or modifying a property.
Secure Loans: You will get a secure loan within twenty four hours of time against any kind of collateral. You can get a secured loan anywhere between seven thousand pounds to fifteen thousand pounds. This is different for each bank and finance lending firm.
Car Loan: If you want to buy a car, then you can get this loan from any bank to buy the car of your dreams. There are many auto financiers who will provide this apart from the standardised banks. You just have to fill the form, and you will get all information about the paperwork you need to submit. You have flexible options of repayment.
Business Loans: Start your business and fulfil the dreams of entrepreneurship as many banks in UK will provide you a business loan up to twenty five thousand pounds. You can choose the repayment option of one year to ten years.
Education Loan: You can avail a student loan or an education loan when you want to apply for a University. When you submit the offer letter from the university, along with the other documents, you can then, get an education loan with option of repayment after you finish your education.
Consolidated Loans: If you have credit and debit loans that are piling up, then consolidated loans are the best loans you can take to pay off all your debts at once. This decreases the rate of interest of repayment of over all loans that you have taken.
Logbook loan Company: If you need a loan immediately, then you can find many lenders who will keep your vehicle or car and lend you money immediately. As long as you don’t pay the lump sum amount, the lender holds your vehicle.
Payday Loans: If you are living pay check to pay-check, and for whatever reason, you don’t receive your one months’ salary, then you can immediately apply for payday loans and bridge the gap of that amount.