British Gas Loan

British gas loans are not available at the moment, but there are many lenders offering personal loans along with other kinds, the loan market is extremely competitive, so it is always worth shopping around to find the best deal for your circumstances. Use our loan calculator or the links above to compare loan deals and get the best loan for you.

Loan Calculators

If you are looking for a personal loan you may have thought about using a loan calculator, after all one of your key priorities is probably finding out how much a loan would cost you. If you have one particular lender in mind they may have a specific bank loan calculator you can use to get an estimate. Most loan calculators just require you to enter how much you wish to borrow as well as how long you want the repayment period to be. They will then give you a rough idea of how much the loan would cost you in total as well as what the installments would be.

But you may find that if you apply for a loan and are accepted by the lender, they might give you a different APR than what the calculator used, changing how much the loan will cost you, this is because when calculating your APR banks will take into consideration an assessment of your credit score, and financial circumstances to decide the exact annual percentage rate they would be able to offer you.

Types of loan

Personal Loans – 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, however this does not mean you should take out a larger loan you cannot afford to service or repay. This type of loan does not require you to put up your home or other asset as security on it.

Homeowner loans – This type of loan is a ‘secured’ loan which means lenders require you put up an asset (such as your home or other property) as security on it. Because of this additional level off assurance banks are usually willing to lend more, generally up to £250,000. They also tend to permit longer repayment periods and may have a better APR. However if you fail to keep up with payments or home could be repossessed. The actual amount you can borrow is dependent on the value of your home, or the value of the equity you own if you have a mortgage, it will also be affected by an assessment of your financial information.

Before you apply 

You should carefully consider all of the available options before you take out a loan to try and get the best deal. it is also wise to look into alternative options to borrowing such as using savings.