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Types of Loans

There are many different types of loans that we are able to give an instant decision on within this site. These can be payday loans they can be normal instalment loans, car finance loans and sometimes even cash loans.

Payday loans

Payday loans are probably the easiest types of loans to be accepted up this is because previous credit history is not as important in making a decision for the lenders. What they are looking for is a stable background of someone who was employed and someone who is not disappeared over previous years.

There is very little paperwork to do if any of these types of loans and often payments can be made to bank accounts within hours and not days. Typically the APR on a payday loan is around 1700%, if you look at that on a monthly rate you'd be looking to pay around 10% of what you borrow back to the lender as interest.

The real problems will start payday loans if borrowers are unable to repay the money in full. When loans stats rollover and interest starts to multiply this is when people really get into trouble with payday loans. It is important only to ever borrow what you genuinely think you can pay back.

That being said most lenders will now work cooperatively with borrowers who get themselves into trouble. Compared to a few years ago and this market had a very bad reputation lenders have had to self regulate to much higher standards than ever before.

Normal instalment loans

Normal instalment loans would usually be anywhere from £2000 up to £10,000 and the only be applied for by those with a modest credit history and above. We can give you an instant decision on these types of loans through this site, all of our lenders will give you a full decision and not one in principle. However some will make basic checks after the decision to ensure that what you have told them was the truth. These can include employment checks, property status checks and ask for certain types of ID if necessary.

The interest rates on these types of loans will be much lower than the payday loan types. Repayments can be anywhere from 12 months all the way up to 5 years.

Car finance loans

thoughts that we are not yet able to bring you this facility by our application form we hope to have this with you within the next month. This feature will allow people to apply for loans for cars outside of normal dealerships. The loans will be secured on the car this will make it much cheaper again an unsecured loan in some cases.

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