Thinking of taking out a payday loan? Perhaps this will make you think again. A recent report by the BBC has highlighted that fact taking out a payday loan has the potential to harm your chances are successfully applying for a mortgage in the future, regardless of whether the loan was repaid on time or not.
“Nearly two-thirds of brokers contacted by trade publication Mortgage Strategy for Newsnight had a client turned down for a mortgage after a payday loan.”
The term ‘bad credit loan’ refers to a variety of different loans which are targeted at borrowers who will be rendered ineligible for standard personal loans due to their credit rating.
Typically, these loans can prove to be particularly expensive compared to their standard counterparts and therefore it is essential that you find out all of the information that you can before considering applying for one.
Guarantor loans are one of the most flexible loans currently available. Public awareness is greater than it has ever been and although they have actually been in existence for a very long time, they are enjoying far greater publicity due to the fact that so many people are now unable to obtain a loan from their bank.
There can be no escape from the current payday loan hype. Whether it is television adverts attempting to shine a light on their beneficial qualities or stories in the written media highlighting the associated dangers of taking out this type loan, information surrounding payday loans is thrown at us from every angle.
When you are doing your homework about applying for a new loan, it can be all too easy to stray from your original plan, especially if you find that you are eligible to apply for more than you actually need. However, if you find that you are faced with mounting debt, doing your homework can lead to an effective method of bringing debt under control if you are prepared to stick to your original goal.
Have you recently been declined credit by your bank or building society? Are you in need of a quick cash boost? Guarantor loans could offer the ideal solution for you.
he first 12 months is a crucial time for any small business. With funds being limited at best, finding an effective method of generating additional credit can literally be make or break for many small businesses.
The traditional way to borrow money for any business has been to turn to your bank manager for a loan or an overdraft. However due to the increasing reluctance of banks to lend to anyone they feel pose a repayment risk, approximately only 20% of start-ups are funded by bank lending, with a much smaller percentage of these being first timers.