Different Types of Loans Explained | Loan Types

Online Loans

What is an online loan? So much of our daily life happens online now. And an online loan is no different. It is a loan that you arrange and manage totally online. When you apply for an online loan, there are no paper forms to fill in and no face to face interview. Everything is […]

Direct Loans

What is a direct loan? Direct loans are loans that are arranged between a lender and a borrower. There is no “middle man” – for example, a credit broker – involved. The borrower applies to the lender directly, and gets a loan decision straight from them. Is a direct loan safe? Yes. As long […]

Cash Loans

What is a cash loan? A cash loan is an instant loan. A loan that will get money into your bank account within a few minutes. Ready to use straight away, just like cash. Life is full of ups and downs, and there are times when you need money urgently to sort something. At those […]

Unsecured Loans

What is an unsecured loan? Firstly, what’s the difference between a secured and an unsecured loan? When you take out a secured loan, the lender uses one of your existing assets – usually your home or car – as security for the loan. This means that if you are unable to make your loan repayments, […]

Secured Loans

What is a secured loan? A secured loan is based on the value of an asset that you own; usually your home or car. The lender has legal access to this asset for the duration of the loan. If at any stage you are unable to make your loan repayments, the lender could repossess your […]

Short Term Loans

What is a short term loan? A short term loan is a loan that can be taken out for just a brief period of time. It is ideal to help plug a financial gap for a few weeks or months, then can be repaid once you are back on your feet again. Most short term […]

Guarantor Loans

What is a guarantor loan? If you take out a guarantor loan it means that another person acts to guarantee the loan for you. If anything went wrong and you were unable to make your loan repayments, then your guarantor would be legally obliged to make them on your behalf. Who could be a […]

Payday Loans

What is a payday loan? The concept of a payday loan is to help you get through the rest of the month till payday. Sometimes you find that, for whatever reason, there is just too much month left at the end of the money. You need some kind of cash advance to survive those last […]

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