Cheap Loans for Bad Credit
Searching for a cheap loan or one of the cheapest loans online can be quite a daunting process considering how many lenders there currently are on the market offering cheap loans. It could also take hours or even days of comparing cheap loans online to find the most suitable loan for you.
The Money Hub can assist you in finding a cheap loan that is suited to your personal situation. The rate of interest that you might be offered will depend on such factors such as your credit history, the better your credit history the more likely you are in getting one of the cheapest loan rates. If you have a poor credit rating, do not worry we will do our best to help you find a good deal.
The Money Hub can help both homeowners and tenants from £1,000 up to £500,000 and you can arrange a loan repayment term between 12 months & 25 years.
If you own your home and are thinking about taking out a cheap homeowner loan, this is a great way of raising money by releasing equity in your property for various reasons. Cheap loans are also an excellent choice if you are thinking about making some improvements to your home and need a bit of extra cash to create the home you have always wanted!
There are many reasons as to why you may be thinking out taking out a cheap loan, here are some examples:
- Home Improvement Loan - New Kitchen / Bathroom / Extension / Loft Conversion / General Improvements.
- Family Holiday / Round-the-World Trip / Gap Year Travelling.
- Debt Consolidation - Combining some or all of your outstanding debts into one affordable monthly payment.
- Loan for your business - New company start up or maybe you are looking to expand your existing business.
- New Car.
You must never forget that obtaining a cheap loan or any form of loan, is a very important decision that requires lengthy consideration. There may be some questions that you might like to ask your advisor when applying for your cheap loan. Some of these may include:
- Will I have to pay a fee for applying for my cheap loan?
- I have been declined previously; will I be able to re-apply?
- Am I able to postpone my monthly repayments on my cheap loan for a month or perhaps two?
- If I were to enter into any sort of financial difficulty what would happen if I missed a few payments?
Frequently Asked Questions
I have a poor credit score, does this mean that I will not be able to get a cheap loan?
Not necessarily as your credit score may not be as a low as you are anticipating! However if you do have a poor credit score, we may still be able to find you a cheap loan by comparing various quotations from our panel of lenders.
I have been provided a loan quote from my bank who I have been with for over 10 years, but its expensive. Can you offer anything cheaper?
We can compare many different quotations provided by the various lenders that we work alongside. Some of whom offer interest rates lower than that of major high-street lenders such as banks.
Get a quote now for a cheap loan by calling us or complete the enquiry form and we will call you to discuss your cheap loan enquiry in more detail.
Looking for a Cheap Loan
Get A Quote Now - It's FREE!
How we work
Just some of the UK Lenders we compare
UNSECURED LOAN REPRESENTATIVE EXAMPLE - 49.9% APRC (variable) Secured loans from 3.83% APRC.
SECURED LOAN REPRESENTATIVE EXAMPLE - Assumed borrowing of £30,000 over 240 months, with a 36 month fixed rate followed by a variable rate plus a brokers fee of £1,495 and a lender fee of £495 would result in a monthly repayment of £256.04, the APRC 8.2% for 36 months then a monthly repayment of £247.45 on variable rate, the total amount payable would be £59,817.24. The actual rate available will depend on your circumstances, please ask for a personalised illustration.
By taking out a secured loan you are borrowing money that is secured against your home. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay. Rates as of 16/01/2017.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP, GO TO MONEYADVICESERVICE.CO.UK.