Bad credit loans frequently asked
questions
Why do loan companies offer bad credit loans?
Because people need them! In the past few years, as loan
companies have come to realise that more and more people
are having credit problems, the choice of bad credit loans
has increased dramatically while interest rates and other
charges, such as arrangement and valuation fees, have fallen.
As a result, people who would in the past have been turned
away, can now get bad credit loans.
Will I have to put up my house as collateral on a bad
credit loan?
If you choose a secured loan, then the equity in your home
will provide security to the lender in the event that you
don't make the repayments. However, if you choose an unsecured
bad credit loan, interest rates will of course be higher,
to reflect the greater risk that the lender is taking.
How much can I borrow on a bad credit loan?
You can borrow from £1,000 to £500,000, depending
on a variety of factors, including the amount of equity
in your property, your employment status and your financial
circumstances, over a period of 1 to 25 years.
Do I have to get my house valued before applying for a
bad credit loan?
No, you don't need to do anything. We will arrange the
valuation to be carried out by a property expert, who will
view your property and assess its value at a convenient
time for you.
Where can I find an explanation of bad credit loan terms?
Just click on our loan
glossary for an explanation of some of the words you
might come across when you're looking for a bad credit loan
or other form of finance.
How do I apply for a bad credit loan?
Applying for a bad credit loan is very straightforward.
You can either apply for a bad
credit loan application online using our simple form
or call our friendly staff on 0800 019 7373. Of course,
if you have any questions regarding your credit history,
we'll be happy to help, so just ask.
Return
to Bad Credit and CCJ Loans Advice
|
