Personal Loans
Secured and unsecured personal loans
There are many reasons for needing a personal loan, ranging from car loans and home improvement loans to holiday loans and even wedding loans. An unsecured personal loan is one of the cheapest ways of borrowing money for such a wide range of purposes. Unlike other forms of finance, such as hire purchase, you are credited with the amount of the loan yourself, leaving you free to spend the money in the way that suits you best. QuoteRack enables you to obtain quotes for personal loans from specialist finance companies who will be happy to discuss your individual requirements with you directly.
"I had considered buying a car on hire purchase or on a personal contract purchase basis but decided that the most flexible way was to opt for a car personal loan"
As an unsecured loan, there is no requirement to put your home up as security as you would do with a conventional mortgage. A secured loan, however, will require you to offer some financial collateral or asset against which the loan is secured.
"Our daughter was getting married and with the high cost of the wedding, we decided to get a personal loan to cover the cost - it was much cheaper than a credit card"
You may also be interested to see other QuoteRack categories such as debt consolidation loans and mortgages and re-mortgages.
Personal loans - links
The Office of Fair Trading
Information from the OFT about credit agreements and personal loans.
Payment protection insurance
Some useful advice from the Association of British Insurers about payment protection insurance.
"My house was in need of some major home improvements, including new double glazing. It was so much easier to arrange a personal loan than a re-mortgage."
"The beauty of a personal loan is that the interest rate is low and the repayments are fixed for the duration of the loan."