A vast number of all kinds of loan products are available and sometimes it is not easy to decide which kind of loan is the most suitable. The most popular loan is probably a secured loan because it is possible to borrow a large amount of money, and usually there is a long period of time in which to pay back the borrowed money. The loans are secured with a large asset, usually one’s home. People who start a business usually will need some funding and will apply for a business loan. Here you can, depending on the size of your business, borrow up to GBP 1,000,000. Car loans specialize in the financing of vehicles and usually are cheaper then financing it through your dealer.
For people with a bad credit score a number of loan products are available, like for example bad credit loans and unsecured loans. Furthermore, there are loans designed for people with several loans already combining them all in one, logbook loans which are secured against your car and payday loans, which are short-term loans with the next salary as security. No matter which loan one opts for, they all have in common that not keeping up with one’s repayments means extra fees, bad credit score and the danger of ending up in debt.