Whatever the reason behind your desire for a loan, the most important thing is trying to get the best deal you can. While AA loans are not available at the moment you can use the comparison tables above to compare the latest deals to help you decide what your best option might be. Most loans take years to pay off so it is wise to shop around before taking one out.
Types of Loan
Also known as unsecured loans are a type of loan that typically allows you to borrow up to £25,000 over a variable time period, generally speaking the larger amount you wish to borrow the lower the rate of interest you receive, however this does not mean you should take out a larger loan you cannot afford to service or repay.
Lenders will advertise their personal loans with a Representative APR however this is not the amount you are guaranteed to get from taking out a loan with them, your actual interest rate will be dependent on numerous factors such as how much you earn and your credit history, they will also take this into consideration when they evaluate how much they are actually willing to lend you.
AA Personal loans are not available at the moment, however there are many lenders who currently are offering personal loans, you can use the comparison service above to see if you can get a competitive rate on one.
This type of loan is also sometimes called a ‘secured’ loan, this is because lenders require you to put up an asset like your home or other property in your possession as security on the loan. Because of this added security you can normally borrow larger sums of money, typically between £25,000 and £250,000 with a homeowner loan. Lenders will also normally allow you to make loan repayments over a long time frame as well.
The actual amount you can borrow with a homeowner loan, as well as the length of the repayment term would be affected by the value of your home, or the value of the equity you own if you have a mortgage on it, as well as other factors such as your credit history and financial circumstances. It is important to remember before taking out this type of loan that the lender can repossess your home if you do not keep up repayments on the loan.