Loans
11 Sep 2009 — admin
This section provides information on loans in the UK. If you borrow money, it is important that you borrow only what you will be able to repay.
In the UK there are different ways that you can borrow money if you need it, including:
If you are unable to borrow money by these ways there are other lenders that may be willing to lend money to you, however they are often very expensive, these may include sub-prime lenders and doorstep lenders.
Sub-prime lendersSub-prime lenders are licensed lenders that give loans to people who are unable to get credit from mainstream lenders because of a poor credit record. They often charge a much higher rate of interest than banks and building societies.
Doorstep (or 'home credit') lendersDoorstep lenders (salespeople who come and knock on your door) give loans, but can be expensive. If you consider taking out a loan from them, you should:
There are also unlicensed lenders, who you should avoid such as loan sharks.
Loan sharksLoan sharks are unlicensed lenders. They operate illegally and will lend you money, but:
For more information on borrowing money, visit the websites below:
|
  |
myUKinfo.com is a cross-government initiative for the UK, led by the East of England Development Agency
© 2010 myUKinfo
Page last updated: 10 Mar 2010 22:46 UK