A personal loan is a type of credit paid to a singular person for their own use, as opposed to a business loan. The loan is made directly from a lender to an individual’s bank account and the amount agreed is between those two parties. There are many reasons people choose to take out a personal loan, and with online brokers such as Loan Broker it’s never been easier to secure a personal loan. Simply fill out the application form on our website and we can then bring a variety of offers to the table from our trusted lenders.
What Is A Personal Loan?
In short, a personal loan is also an unsecured type of loan because you make the repayments back from your own earnings rather than have a car or a house used as collateral. With a personal loan, you agree to borrow a certain amount of money from a creditor, then pay it back every month in the form of repayments.
What Are The Pros And Cons Of A Personal Loan?
A lender will add interest onto the loan, so you always end up paying back more than you borrowed just for the privilege of having the loan. You could also get into a situation where you are not able to pay the loan back, such as if you lose your job.
The plus side is that you get the full cash amount in advance when you need it, and then you get a long time to pay it back in a way that is more affordable. With a broker like Loan Broker at your side, you also get a variety of offers to choose from so you can find the most suitable repayment terms for you.
What Can I Use My Personal Loan For?
Can I Get A Personal Loan For An Emergency?
Find Personal loans – With Loan Broker
Loan Broker is an FCA registered credit broker that operates across the major cities of the UK. All the lenders associated with it are also authorised by the financial regulator. The mission is to promote responsible lending and hence, our lenders perform soft credit checks to offer initial quotes. Soft credit checks are safe as they do not leave any footprint on your credit report and doesn’t even harm your credit report.
We do not charge any upfront fees to our consumers. We offer an array of unsecured loans such as – debt consolidation loans, self-employed loans, to help borrowers get back on their financial track. As a credit broker, we help our borrowers to find the right lender by considering their requirements. With Loan Broker by your side, you can choose no obligation loans. We are loan brokers, committed to extending a true hand of help for borrowers seeking hassle-free, and affordable loans despite bad credit rating.
Borrow responsibly and repay timely.