Tag Archives: personal loans
Loans 360: Any Loan, Any Time
There are many reasons that you might need to apply for different types of loans, and none of them are enjoyable. One of the best features a loan outlet can offer to customers who are in a difficult financial situation is an easy application process. There are many reasons why Loans 360 may be the ideal choice for you or someone you know who has had past credit problems and who also needs help to get back on their feet.
Personal Loans
When you encounter a loan officer at a traditional lending institution, they often act in intimidating or demeaning ways towards customers who do not boast a high credit rating or FICO score, or who may have had problems paying their bills in the past. This can add to the stress of solving your current financial problems and, suffice to say, no one likes to be treated that way.
The personal loans at Loan 360 are that many degrees in the opposite direction. We do not act as a judge towards customers payment history because our business is to help people get loans who are turned down elsewhere. This is a refreshing experience for many of our customers; we are happy to provide it time and time again.
Our loan plans are customized to get you the interest rate that you can afford, which will help you re-build your credit history. We are primarily interested in your income-to-debt ratio, that is to say, the comparison of your income against your expenses and debts. Examples of these debts could be your mortgage or car payments.
Thats it! We just need your basic contact information and your application will go right into processing. We are proud to offer some of the most user-friendly loan application products on the market today.
Online Personal Loans
Another way we serve our customers is by offering them access to the alternative online loan application. Because our loans are not secured, or backed by collateral, the online application is exceptionally fast. Collateral-based online personal loans have much longer processing periods. In addition, no credit check is required.
This speeds up the processing of your application as well. Other lending institutions must go through these other steps, which can result in longer waiting periods before the status of the loan is revealed to the customer. At Loans 360, we can accommodate bad credit or no credit with no problem.
Online personal loans Gaining foothold in the UK credit market
One can find a variety of personal loan products in the market bad credit loans, business loans, car loans, career development loans, cosmetic surgery loans, debt consolidation loans, education loans, holiday loans, homeowner loans, home improvement loans and wedding loans.
A recent study indicates that secured personal loans have the largest market share in the UK loan bazaar.
This can be attributed to the fact that secured deals offer maximum loan benefits like quick attention, high credit limit (normally between £5,000 and £250,000), competitive low APR (normally 6.7% onwards), flexible payback terms and negotiable clauses subject to basic credibility parameters like past credit history, DTI ratio and property value.
The above-mentioned benefits can only be availed by homeowners and property owners, because these loans necessities pledging collateral against the loan amount. Secured loans:
Are suitable for big monetary requirements, as the credit range is quite high
Are probably the only option for people who have been denied an unsecured loan
Are most suitable for bad credit holders, as loan benefits are maximum .
Cons of availing personal loans in secured form:
As an alternate form of repayment, collateral protects the lenders investment, i.e., in case of repeated defaults or non-repayment, the lender can take over the pledged collateral to recover his money. Also, a secured loan deal has an additional thing time-consuming property evaluation procedure, which requires a lot of time.
Growing popularity of online loans:
Another study indicates that the online personal loans are catching up in the UK loan bazaar, as more and more people are opting for loans over the Internet. This can be attributed to:
Convenient presence of numerous lenders, who make loans more accessible and the entire loaning process very expedient
Greater transparency in lending rates across the country
Cheap loans as compared to conventional lending institutions, as their overheads are comparatively less .