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Secured
loan in Wolverhampton |
Whatever
you need a loan for we can help you, we offer a wide
range of loans from personal, secured, unsecured and
consolidation loans to business and property development
loans. Apply for your loan online today!
Secured
loans for residents of Wolverhampton from Great
British Finance |
A
secured loan ties the loan into your property, which
gives the lender more security. This may enable them
to loan more or to reduce the rates they can offer,
though you will need to make sure you can re-pay the
loan as your property may be at risk if you cannot repay
the amount you borrow. A secured loan may be a good
way of reducing your outgoings by consolidating more
expensive borrowing, such as credit cards or store cards.
You may also be able to raise more money than if you
take out an unsecured loan.
An unsecured loan does not use your home or vehicle
as collateral for the loan. An unsecured loan is best
suited for people who do not own a property, such as
council tenants or private renters although they are
available to homeowners as well. You will almost certainly
need proof of your income and you may not be able to
borrow as much as you could if you secured the loan
against your property. Even if you
have problems with your credit history, you will still
be able to arrange an unsecured loan with Financiar.
What if I have a bad credit history, will this
affect my loan application and what type of loan I can
get?
| A
bad credit history will not stop you from getting
a loan! We know that many applicants have what
is considered to be 'Bad Credit' through no fault
of their own. Our friendly and knowledgeable loan
advisers aim to to make sure that you get the
loan you need no matter what the circumstance.
If you have any of the problems listed below you
will still be able to get a secured loan or unsecured
loan from a specialist loan provider: |
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Mortgage
Defaults or Arrears |
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Adverse
Credit and Finance |
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Poor
Credit History |
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CCJ's
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No
Proof Of Income |
(You
may find that bad credit loans have higher interest
rates and will lend you a lower total sum.)
How do secured and unsecured loans work?
Before you decide to enter into a secured consolidation
loan or unsecured condsolidation loan agreement you
should make sure that you know exactly what you are
doing, we have knowledgeable and friendly loan advisers
ready to answer any questions that you may have 7 days
a week. Unlike other specialist loan consolidation companies
we are also qualified independent financial advisers.
Our loan advisers want you to have the best product
to suit your needs. Please read the following loan information
to gain a better overview of how loans work.
DETAILED
INFORMATION ABOUT OUR UK SECURED LOANS
The loan agreement
When you enter into a Secured loan or Unsecured loan
agreement – you are signing a contract to make
the repayments, by the specified date every month
for the length of the loan agreement. Any deviation
from this agreement may result in monetary penalties.
For example, some loan lenders apply an early settlement
charge (also known as a redemption penalty) if you
repay either the secured loan or unsecured loan in
full before the agreed end date. This can be up to
2 months interest. If you think you will be able to
pay off the loan before the end of the term then your
best bet will be to arrange a secured loan or unsecured
loan with no early settlement costs, however the APR
may be slightly higher.
Flexibility within the loan agreement
If you would like some flexibility in your loan agreement,
make sure you arrange this before you sign on the
dotted line. You may be able to arrange occasional
over-payments and lump-sum payments, both of which
allow you to clear the debt over a shorter time period
than first agreed. If your secured loan or unsecured
loan is a truly flexible product then you may also
be able to use the fund as a bank account, withdrawing
funds from the account on a rolling basis, providing
you stay within your credit limit. Lenders also offer
repayment holidays, allowing you to defer your monthly
cheap loan repayments either at the start of the loan
(known as 'deferred repayment') or at an agreed point
during the term.
Interest on the loan
You are charged interest on the amount you have borrowed
with the loan – it is a percentage of the borrowed
amount which accumulates over the period of the agreement.
Interest rates on loans vary from 7% up to 20%. The
interest rate will be included in the APR. This stands
for Annual Percentage Rate, and includes the administration
cost of setting up the mortgage, any discount periods,
how often interest is calculated and also calculates
what the average rate of interest will be over the
life of the loan. To comply with the consumer credit
act all lenders must ensure that the borrower is informed
of the APR (the annual percentage rate on the loan).
Fixed or variable interest Loans
The APR can be a fixed or variable charge. A fixed
APR has the benefit of added security since the rate
will not change, a variable APR does not have this
security but could reduce the cost of your total payments
if interest rates go down.
HINTS
AND TIPS WHEN TAKING OUT A LOAN IN THE UK
Look at the small print - although the loan with the
lowest APR is one factor that contributes to a cheap
loan, you should always pay attention to the small print
as any additional costs will be found there. If at any
stage you need further information about your UK unsecured
loan or secured loan application then talk to our advisers,
remember once you submit
your loan application you still have a 'cooling off
period' which enables you to cancel your secured loan
or unsecured loan application.
Never borrow more on a loan than you need - you will
only pay more back in interest - the more you borrow
on a loan the more it costs you.
Only ever make one loan application at a time –
even if you don’t take the offer up all the loan
applications will sit on your credit record, and will
not look favorable for future finance applications.
Consider loan insurance and protection – if you
lose your job, have an accident or become sick, you
will still have to make your repayments in full so it’s
a good idea to take out loan insurance, especially if
the loan is secured on your home (A secured loan). We
offer a huge range of income protection products, if
you would like more information on how to protect your
loan then click here
Stay in control - make sure you know exactly what the
monthly loan payments will be, and how much you will
pay back in total.
Everyone’s different - lenders calculate the total
cost of a cheap uk loan (APR- both for secured loans
and unsecured loans) in different ways, so try and get
some understanding of the formulas they use.
Compare like for like – the low monthly interest
rates for loans in shop windows may look lower than
the yearly APR in another, but the only way to find
out is to carry out full calculations for both offers.
Check out the alternatives - you may be able to get
a better deal on a home improvement loan by going to
your mortgage lender rather than taking out a secured
loans or even an unsecured loan.
As one of the UK's leading online finance and insurance
providers, we offer a wide range of loans, these can
be seen below, if you would like to go directly to a
particular loan section then click onto the site search
button at the top of this page and type in the loan
that you are looking for.
We
can arrange a wide variety of loans for the following
purposes
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Debt
consolidation loans |
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Home
improvement loans |
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Car
loans |
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Holiday
loans |
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Property
development loans |
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Inheritance
tax reduction loans |
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Career
change loans |
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Bridging
loans (commercial and residential loans) |
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Short
term business loans |
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Professional
practice loans |
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Loans
for Management buy outs |
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Secured
loans |
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Unsecured
loans |
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Bad
credit loans |
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Business
start up loans |
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Property
conversion loans |
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Loans
for land acquisition |
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Venture
Capital Funding |
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TYPICAL 12.9% APR VARIABLE
LOANS SECURED ON YOUR HOME.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR
HOME. YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP
REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON
IT.
About Wolverhampton
Wolverhampton is an industrial, commercial
and university city and metropolitan borough in the English
West Midlands, traditionally part of the county of Staffordshire.
In 2002 the city had a population of 239,358. The city
was named after Lady Wulfruna, who founded the town in
985. The name literally comes from Wulfruna's town on
the hill (heaneton meaning town on the hill). It is often
abbreviated to "W'ton" or "Wolves".
The city council's motto is "Out of darkness, cometh
light". The United Kingdom government announced on
December 18, 2000 that Wolverhampton would be granted
city status, making it one of three "Millennium Cities".
Wolverhampton lies northwest of its larger neighbour Birmingham,
and forms the second largest part of the West Midlands
conurbation. To the north and west lies the Shropshire
and Staffordshire countryside. It is the 13th largest
town or city in England, although its local authority
boundaries are drawn much more tightly than most other
authorities, and includes no other towns of major size.
As a district, it is 44th largest in England. Unlike most
metropolitan authorities, Wolverhampton did not increase
its population in the major 1974 reorganisation of local
government (which included the creation of Metropolitan
Counties), as it already exceeded the target population
size of 250,000 people. This means that many other authority
areas, whilst being traditionally much smaller, show up
as 'larger' in most population size listings. The traditional
area associated with the city extends far outside its
local authority boundaries, including areas that are currently
within Walsall, Sandwell and Dudley metropolitan boroughs,
plus areas of South Staffordshire district. In fact, were
the boundaries of the former Royal Peculiar (1479–1846)
in effect today, Wolverhampton would have a similar population
to that of Manchester. Wolverhampton city centre falls
outside of the area known as the Black Country, although
some districts such as Bilston and Heath Town fall within
the Black Country coalfields, leading to confusion as
to whether the city itself falls within the region. This
confusion is not helped by the names of UK Government
regional bodies such as "The Black Country Development
Corporation", under whose remit the city falls. Districts
within the city include Bilston, Wednesfield, Tettenhall,
Bushbury, Heath Town, Compton, Blakenhall and Oxley. In
addition to this, areas within the traditional districts
of Willenhall, Coseley and Sedgley are to be found within
the city boundaries. Wolverhampton has a great range of
places to visit, parks and gardens to enjoy, entertainment,
nightlife, shops, accommodation, arts and culture and
sporting events throughout the year. If you require guides,
leaflets hotels or general information about visiting
Wolverhampton and the local area, contact the Tourist
Information Centre
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Great British Finance
Limited are authorised and regulated by the
Financial Services Authority (FSA). The FSA
does not regulate some forms of Mortgage, Inheritance
Tax Planning, Credit Cards, Personal Loans,
Deposit Accounts & Insurance. If you are
submitting an online request, we would advise
to read our KeyFacts statement, links are at
the top and bottom of this page. |
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Questions? support@finanz.co.uk
Phone: (+0044) 0845 130 0009
©2003-2006 Great British Finance Ltd, E&OE. All Rights Reserved.
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