A quick guide to loan protection exclusions

Loan protection has been in the news a lot recently as a result of consumer accusations that the providers of loan protection are merely ripping off consumers to profit rather than assessing what is in their best interests. This may sound like a wild claim until you are presented with the evidence.

The finance industry regulator the Financial services authority has found that in some cases, loan protection policies were being sold to individuals who could never benefit from them. This is because they would not be eligible to claim should they find themselves out of work as a result of sickness or unemployment.

There are a variety of reasons why someone would be unable to benefit from loan protection, and all of them are contained within the small print, or the terms and conditions. It is therefore essential that a consumer reads this information before taking the loan protection out.

Although every individual policy will have its own set of exclusions, and they largely depend on the company, there are some generic ones that all loan protection policies have. The first is that you have to be between 18 and 64 to claim the majority of them. Any older than that and you are no longer deemed to be of working age. Some do not include this condition now as a result of the act against age discrimination, but it is still worth looking for or asking about.

You also have to be working on a full-time basis to be able to claim loan protection. If you work less than sixteen hours a week or no longer work, then you cannot claim. The whole idea behind loan protection is that it enables you to maintain repayments if your income is dramatically reduced. However, if you are not working, to begin with, or are not the primary wage earner, then it could be argued that your debts should not be affected.

Of course, these are only two of the exclusions associated with the terms and conditions of loan protection, but already you should have an idea as to whether you qualify for it! Be sure to read all of the terms and conditions and take independent advice if necessary, and you will not go far wrong!

A perfect match for your pocket – Cheap secured loans

Cheap secured loans will help you get the loan money on your terms. These loans are at very low-interest rates which makes them popular among the borrowers.

You work hours earning money to give your family the right way of living. Sometimes it happens that deficiency of money arises and then you go for loans to cover up that deficiency. Cheap secured loans are the best way of getting the money which can be quickly repaid afterwards without making a hole in your pocket.

The loan

Cheap secured loans are available at low rates with easy repayment options. Affordable secured loans are meant to fit in a common man’s pocket most appropriately.

Lenders ask for the following when you look for a cheap secured loan:

  • How much you want to borrow?
  • How long you need to repay the loan amount?
  • How much you can pay?
  • If you need payment protection insurance(PPI)

How is the interest calculated?

The lenders calculate interest rates on the system called risk-based pricing. This means that they access each individual’s circumstances and credit history before deciding which interest rate to offer to the borrower.


There are specific hidden terms that you should be aware of. These are:

  1. Lenders can charge you with a fee for loan arrangement.
  2. If you repay the loan before the end of the loan term, you may be charged with an early repayment fee also known as a redemption fee. The price can be as much as two month’s interest.
  3. You can avoid paying the loan instalment for some time. However, you still have to pay the interest which is added to your outstanding balance.

How to find the best cheap secured loan deal?

While looking for a loan, your topmost priority is to save your money from going out in the form of high interest. You can spend some time shopping for loans in the market. It is always recommended to start your search with banks and financial institutions. This will give you a brief idea about the market scenario. You can also bargain with the lenders for better rates and flexible terms. 

Will my credit score affect the loan?

Yes, your credit status will affect the interest rate on the loan to a certain extent. However, no lender could reject your loan application based on your credit score. Your credit score reflects your encounters with debts in the past. Lenders look for them to get the assurance that you will be paying the loan instalments smoothly.

Applying for the loan

Applying for the loan is quite simple and hassle-free. You can even apply online through various loan lender websites. You need to fill in details like your name, address, contact information, amount you are looking for, the value of the collateral you are offering. The lender once satisfied with your application, will himself contact you with his services. So let the cheap secured loans cover up your financial incompetence.

Applying for a college student loan − How to come prepared

Anyone who has looked at tuition prices lately knows how expensive college can be, whether a student carries a full course load or not. Not only can they spend hundreds of dollars per course unit, but there’s also the added expense of books, student services, medical costs, and lab fees. More students are applying for a college student loan these days than ever before, to help cover such expenses.

Student loans are available to all students, but that doesn’t mean they’re easy to come by. Depending on the state and the college or university, expenses for a year’s course of study can range from hundreds to thousands of dollars, and the prices go up for State university locations. The decision to apply for a student loan may be the only reasonable option that many people have to fund their college education. Still, there are several things to consider before shopping for one.

First, take stock of your finances. Are you looking at the student loan to fund all of your school expenses or only a portion of them? When figuring the amount you’ll need, try to add in everything that involves school costs, even food, and extracurricular events. If you already have a job, great, but if you don’t, you need to sit down and figure out precisely what you need for class fees and right on down to paying for your school I.D. card. Many people forget such costs as student services, parking, and the medical insurance that is offered by most school campuses, so make a list and check it twice.

When it comes time to shop around for your loan, try local banks in your area first, especially if you have an account in a local branch. The good thing about student loans is that you don’t have to start paying them back until your schooling is finished but keep an eye on the interest rate that is attached to your loan repayment plan. Interest rates may vary depending on state and area. Still, you may be able to obtain a lower interest rate if you have already established some credit or banking history. If you have a job, so much, the better.

If your local bank branch turns you down, try other lenders, most especially student government loans. Many universities and colleges also offer student financing, so check their interest rates too. Knowledge is power, and that goes for education and finances.

Bad credit and overdue bills don’t look right, no matter if you’re nineteen or ninety. To increase your chances of not only obtaining a loan but also getting the amount you asked for, try to go in with a good payment history to back up your claim that you’ll be able to repay the loan when it becomes due. Earning a college degree is something that can’t be measured with money, but unfortunately, it’s what makes the world go round. When you obtain that loan, you should already have a tentative plan in place to start paying it back.

Applying for an advertised low-interest debt consolidation loan

Debts. Mounting debts. Debts out of control. Flashing across the recesses of your mind with regularity maybe these phrases. If you are like many people in the world today, you are confronting or trying to confront as best you can – ever-mounting debt. 

You may be trying to get control over growing debt before it becomes a severe problem, and before it starts to harm your overall credit history and credit score.

With this in mind, one solution that you should include in your overall debt management mix and plan should be applying for a low-interest debt consolidation loan. 

Provided you make an application for a low-interest debt consolidation loan. At the same time, your credit score is still in a reasonably good position; you will have several options available to you. 

However, you will need to keep in mind that often there are “hidden” fees, costs, and charges that are associated with a low-interest debt consolidation loan which you may have seen advertised.

The element of buyer beware

When it comes to considering an advertisement for a low-interest debt consolidation loan, you do need to keep in mind the old phrase of caveat emptor – buyer beware. With very few exceptions, a lender that is promoting a low-interest debt consolidation loan through advertisements will not be fully open about all of the costs associated with that loan option. Instead, the lower interest rate necessarily (and naturally) will be prominently promoted. 

At best, in some very fine and nearly (if not wholly) illegible print tucked away in the bottom corner of the ad will be some general information about the existence of other fees, charges, and costs associated with the loan.

It would help if you kept in mind that no matter how closely you scrutinize the advertisement. The advertisement is not an appropriate source for you to obtain information about a low-interest debt consolidation loan.

Do your homework

If you are compelled to consider a low-interest debt consolidation loan that you’ve seen advertised, it is vitally important that you do your homework. You need to research and analyze all aspects of the low-interest debt consolidation loan itself. This should include considering all documentation presented by the lender – but also independent resources of information that you will be able to find both on the Internet and World Wide Web and in the brick and mortar world.

Double-check all provisions in a low-interest debt consolidation loan agreement

When it comes to a low-interest debt consolidation loan agreement, you do have to read everything in the agreement, everything. Provisions regarding costs, fees can be hidden away in the most unlikely of places within a low-interest debt consolidation loan agreement. 

In the end, by following the suggestions and pointers outlined in this article, you will be able to make intelligent and educated decisions about a low-interest debt consolidation loan.

Personal loans in the UK – What you should never do

Little white lies are harmless, right? Not when they are listed on your loan application. Lies on your loan application are not harmless and can be detrimental to your chances of obtaining credit. Different people have different reasons for lying on their loan applications. Some people want to hide a bad credit history, while others do not want to reveal personal information. Still, regardless of the reasons, being a loan liar is not a good practice. It can hurt you and undermine your chances of getting a loan. Unfortunately, loan lying is relatively common in Britain.

Who are the loan liars?

Loan liars come from all walks of life. Men between the ages of 26 and 40 make up two-thirds of those who lie on their loan applications for secured loans, insurance, and credit cards. Of these men, approximately 64 percent of them lie to hide a poor credit history. By contrast, 77 percent of women lie on their loan applications to hide a poor credit history. Of this number, 17 percent use an alias. Of all the loan liars, 10 percent admit to using false documents to support their false claims on loan applications. Also, 9 percent of men and 7 percent of women lie about their status of employment or salary.

Why should you not be a loan liar

Of course, the number one reason to NOT be a loan liar is that it is illegal. Some people don’t care one whit, however, about legalities. That is OK, though, because there are other equally compelling reasons. Consider why you want to get a loan in the first place: to get approved for credit or to get approved for a higher amount of credit. You could be digging yourself into a deeper hole. Suppose you do get that credit or higher limit, now what? How will you make your payments, and what do you have at stake that you could lose? If you lied to obtain a mortgage, you could lose your home. Think about it and consider the ramifications before telling that tale.

What impact do loan liars have on overall debt?

Loan liars play a large part in incurring overall debt, meaning loans that are not repaid. Massive overall debt contributes to higher interest rates for everyone. If you are a part of the problem by contributing to the overall debt, you are part of the reason that interest rates increase. Do you want to be a part of the problem or a part of the solution? It is up to you.

How do you get caught?

More and more companies are catching loan liars before they can do any real damage. How do they do it? Lenders are working together and sharing information, and this is making it much easier to catch loan liars. They are using loan data sharing services that capture the loan liars before they are accepted.

The bottom line, it is just not a good idea to lie on loan. If you do get away with it, you will likely not be able to afford it. If you don’t get away with it, you could face legal problems. It is a no-win situation. Play it safe and tell the truth.

Personal debt consolidation loan − The impact of your credit score

You may have reached a juncture in your life at which you’ve found yourself dealing with ever mounting and more unmanageable debt. You do feel that your debt has become entirely out of control. 

You may be looking for solutions through which you can restore some order to your finances. As you go about looking for answers regarding your debt problem, you likely have come up with many questions along the way. For example, you may have several questions about your debt consolidation loan options. You may be wondering both how your credit score will affect your ability to obtain a personal debt consolidation loan and how your credit score might be improved if you can get a personal debt consolidation loan.

Through this article, you will be provided with an overview of how a personal debt consolidation loan works. You will be presented with information about how a personal debt consolidation loan is impacted by your credit score and, conversely, how a personal debt consolidation loan can impact your credit score.

The Impact of Your Credit Score on Qualifying for a Personal Debt Consolidation Loan

The status of your credit score largely will dictate what type of personal debt consolidation loan you may be able to qualify for in the first instance:

  • A low-interest personal debt consolidation loan
  • A bad credit personal debt consolidation loan

If you maintain a good or excellent credit score, you should be able to find a lender that deals in low-interest personal debt consolidation loan options and opportunities.

On the other hand, if your credit score has fallen from the good or excellent zones, lenders are developing personal debt consolidation loan options for consumers who have started to have difficulties with their credit scores.

The Impact of a Personal Debt Consolidation Loan on Your Credit Score

If you do apply for, qualify for, and obtain a personal debt consolidation loan, you actually will have taken a step that will have you on a course towards improving your credit score and towards cleaning up your credit history. With a personal debt consolidation loan, you will be able to pay off past due accounts. Provided that you make a payment on your debt consolidation loan on time, your credit score will improve a bit every month. Over time, you will end up with a much-improved credit score and a more admirable credit history. As a result, more and more doors will open to you in the future when it comes to matters like finding reasonably priced home mortgage financing or when it comes to purchasing a car without having to spend an arm and a leg an interest attached to an automobile loan.

Online student loans − why, where, and how?

After graduating from high school, most of us have some confusion regarding our further education.

It is never an easy decision for attending Universities. Universities are expensive, and although you can take out a loan, it will take years to pay back even if you become incredibly successful with the career choices you make.

Today, large numbers of lenders are available in the market to offer you college loans. Due to increased competition, some lenders are offering attractive student loan packages even with various liberties in repayments like payment holidays. That’s why students are advised to research on their own before finalizing a deal.

You can use the internet to search for a private student loan as well as a government student loan.

Why apply online for student loans?

  1. Online student loans are affordable, with a low rate of interest.
  2. They are unsecured, so your home equity or retirement accounts are never at risk.
  3. They are straightforward and fast, require no government forms, and no deadline, and quick approval.
  4. Online student loans give you the chance to earn on your investments and savings.
  5. Require no paperwork.

How to apply online for student loans?

You can apply via a lender or can directly login to the website, and can apply for an online student loan. If you are a graduate, you will be asked to provide the following information:

  1. Information, name, and address of the applicant.
  2. Two personal references.
  3. The Balance and rate of interest of your current student loans.
  4. Your choice of online student loan payment plan.


Online student loans are easy, less time-consuming, need no paperwork, and offer you student loans with a competitive interest rate. However, it is recommended that you do thorough research online to choose the best deal. Do not postpone, and you can save a lot of money by getting a student loan.

Applying for a college loan for dummies

Interest rates are comparatively lower for dummies. Companies take specific care of student loan dummies. These type of loans are provided to them to pay tuition fees, library fees, campus fees, and also medical expenses. Government offers them specific grants and government student loans for all their expenses during education. 

If you have the plan to go to college and you want to apply for a student loan, then you have to spend a little time to research on your own.

It would help if you kept some pointers and guidelines in your mind, which will help you to choose the right loan option and assure you of the approval of your loan application:

  1. At the time of filling your application form, you should have the following documents: 
  2. A document containing information about your financial status. 
  3. Income proof certificate of your parents (might be asked if you are still living with your parents.)
  4. Consult your high school financial aid office for a better school loan option, as they are trained to help you. Collect every needed information from various sources.
  5. Prepare a budget, including all needed expenses.
  6. If you are an excellent scholar, then you are recommended to apply for a grant or government student loan before going to apply for a student loan, which will make your student life easy.
  7. Always try to grab every offer provided by the Student Loan Company. You can get the required information by visiting the lenders’ website.
  8. Do not avail offers like interest rate reductions, on-time payment’s interest rate reduction (always repay your student loan on time, as some companies offer you a 7. reduction of 1.5% if you repay them on time.)
  9. Autopay interest rate reduction: How you are going to repay your student loan? A wise selection can fetch you up to a .5% reduction.

All these tips seem to be very minute, but they will keep your financial position strong during your student life.

Applying for online secured loans

Credit card companies usually charge interest rates that lie between 2-3 percent per month. Even if you are looking forward to getting married, the secured personal loans can prove to be very helpful. Benefits are given to any business transactions even in loans, debt consolidation loans are the most appropriate way to get your credits paid by with a large sum of money immediately at hand.

Only the reason behind taking out any form of money provision is to upkeep your finances. But in a market where there are numerous loan schemes, it won’t be evident for you to choose the best and you may end up with a loan that does not suit your circumstances at all. If you are looking for a finance that provides you flexibility in terms of interest rate and repayment schedule, consider applying for an online Secured Loans UK. All of your debts thus are consolidated under the secured debt consolidation loan provider. Collateral ensures a lower interest rate on secured debt consolidation loans.

The motive behind any debt consolidation loan is usually that you intend to replace higher interest rate debts with a lower interest rate new loan. Since it is a Secured Loans UK form of the loan scheme, you have to pledge any asset to secure the amount. For all of your varied purposes, you can get a reasonable sum of money. Any person who owns an asset can apply for this loan plan. Under secured debt consolidation loans, lenders usually approve a loan ranging from £5000 to £75000 which a lot also depends on the equity in collateral, good credit history, and current repayment capability of the borrower. Through this loan scheme, you can obtain an amount anywhere in the range of £5000-£75000. You are granted at least five years for the repayment of the loan amount. With a significant loan amount, you can efficiently execute several personal demands. Also, ensure comparing various secured debt consolidation loan providers for better terms-conditions. Another benefit of availing of this loan scheme is that of its low-interest rate. Due to the collateral, lenders are free from any risk, and in turn, they approve the Secured Loans UK amount at cheap rates. Online access is convenient and straightforward, and you have access to as many lenders as you can.

Applying for a secured loan

Owning a home is a dream that most families would want to achieve. A home provides you with a feeling of contentment because you finally have acquired a property that you can call your own. Buying a home is more convenient and practical than renting one. Settling monthly payments for your rent is just like buying a house when the money that you have paid is put together. The only difference is that you will never be able to own the place that you have been allotting cash. On the other hand, when you purchase a home, you pay for it and call it your own without worries once you have settled all your loan payments.

Recently, properties in the market have been pricey. This is the reason why most home buyers opt to rent. However, they do not know that renting is more costly than buying a house. If you want to buy a house but you do not have considerable deposits in your bank, you can avail of a secured loan. When you apply for a secured loan, you are required to provide your lender with a type of security. In this case, your house is your security, whether it is acquired through a mortgage or bought outright. When you obtain a secured loan using your home, which has been achieved through a mortgage, it is called second charges. On the other hand, when you apply for a secured loan against your home, which you bought outright without getting a loan, it is called as first charges.

The first step in applying for a secured loan is knowing which kind is perfect for your needs. A secured loan is available in various amounts and for several reasons. The amount of your secured loan is settled each month over an agreed term. Term agreements in a secured loan, typically, range from 3 to 25 years. If ever you do not heed to the policies of the lender, you will be charged with a penalty. When you avail of a secured loan, your lender will charge an interest rate on the amount that you have borrowed. In a secured loan, the interest rate is called a yearly percentage rate. It is recommended that you make a comparison of the annual percentage rate for you to determine which loan is ideal for you.

The second step to acquiring a secured loan is knowing where to make an application. Lending firms have several options for you to choose from. You can apply for a loan through the telephone, through their branches, through a written application or, through the firm’s website. The initial assessment of the application for a secured loan is relatively quick, but the provision of loan amounts are regulated. You are given a period wherein you should be aware of the conditions and terms of the loan. When your lender assesses your loan application, he or she will put into consideration your financial obligations and your income. He or she will determine if you can handle to take and repay added finances. Your lender will also look into the history of your credit and other several aspects. Each detail is carefully looked through to make sure that the payment will not burden you, and late payments will not burden your lender.